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North Asia dominates Asia’s 500 fastest-growing tech companies
Korea’s Kakao Corporation secured first place in the 2014 Deloitte Technology Fast 500 Asia-Pacific programme, marking this as the first time a South Korean company has been the overall winner. While Kakao led the overall ranking, Chinese companies once again dominated the 2014 rankings
The Asset 21 Nov 2014

Korea's Kakao Corporation secured first place in the 2014 Deloitte Technology Fast 500 Asia-Pacific programme, marking this as the first time a South Korean company has been the overall winner.

 

While Kakao led the overall ranking, Chinese companies once again dominated the 2014 rankings with five companies in the top 10, including Telison; a Green Technology company. With four green technology companies make up the top 50 in the 2014 rankings may be an indicator of future growth in this sector.

 

"Our 2014 rankings have once again revealed some fascinating results from across the region and it's encouraging to see a green technology firm take second place. It's also extremely exciting that in addition to continued strong representation from China over the years, we now have a South Korean firm taking the top spot for the first time in the thirteen years of the Deloitte Technology Fast 500 Asia Pacific programme history," said Ichiro Nakayama, DTTL eader, Technology Fast 500 Asia Pacific.

 

Based in Seoul, Kakao achieved an annual growth of 11,618%and is the company behind KakaoTalk, the popular mobile instant messaging application. The company was founded in 2010, and in 2013 generated its revenues through gaming, digital content, mobile commerce and marketing channels for brands and celebrities. Kakao has been named a "Top developer" on Google's Android Market and KakaoTalk was chosen as the No.1 Free SMS App by CNET.

 

The top 500 companies in 2014 averaged a revenue growth of 405%, a significant increase from last year's average growth of 356%. Additionally, a total of 342 companies making up this year's ranking had final year revenues under US$10 million, a notable increase over 258 in 2013.

 

With 100 companies in the top 500, China once again leads the rankings geographically for number of fastest growing companies; but this year marked a decline from 128 companies in 2013. Taiwan recorded 90 companies in the ranking, down from 108 companies last year.

 

Other countries are strengthening their presence in the rankings, with India now tied with Taiwan for second place, with 90 ranked companies. Considering India contributed 43 companies in 2011, this indicates an increase of some 109% over the last four years.

 

Similarly, Australia (74), New Zealand (51) and South Korea (47) also recorded increased numbers of ranked companies in the 2014 results.

 

Sector Trends

 

Although the software sector is slightly down by 16 companies from 2013, it still leads the industry sectors for the second consecutive year, with 146 companies and also delivers our overall winner in the ranking, Kakao.

 

The telecommunications and networking sector recorded an increase from 31 to 58 companies ranked since 2013, and from this sector Australia's NEXTDC placed at number six in the ranking. The media and entertainment sector also recorded impressive growth of 69% over 2013, with more companies focused on digital advertising making the ranking.

 

While green technology saw little change in numbers listed on the ranking, it is notable that Chinese company Telison ranked number 2 overall, and a total of four green technology companies made the top 50 list, perhaps an indication that this sector is adapting fast and changing to meet market needs.

 

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