Tech firms grow fast in China
China Communications Media Group of Taiwan topped this year’s 2013 Deloitte Technology Fast 500 Asia Pacific ranking of fastest-growing technology, media and telecommunications companies in the region.
CCMG specializes in applications for mobile phones and grew its revenue 266 times over the past three years.
“China, India and Australia are generating an increasing number of fast-growing, successful technology companies and are challenging Taiwan as a technology hub in the region,” said Ichiro Nakayama, leader of Deloitte Touche Tohmatsu Limited’s Technology Fast 500 Asia Pacific program.
“All three markets have shown an increase in the number of companies ranked among the 500 fastest-growing businesses for the past three years, indicating that breakthrough innovation is being cultivated in these markets,” said Nakayama.
The report shows that the top 500 companies averaged a revenue growth of 356%, though this figure is down from last year’s average growth of 467%.
The Top 10 winners alone realized an average revenue growth of 6,483%, higher than that of the Top 10 of the four previous years of the program(5,209%) in 2012.
With 128 companies ranked in the top 500, China emerged this year as the market with the most fast-growing companies in Asia Pacific. China’s ranking has improved year after year, rising from No. 2 behind Taiwan in 2012 and No. 3 in 2011 behind Taiwan and South Korea.
Similarly, India has risen from fifth place with number of companies ranked in the top 500 in 2011 and 2012, to third place this year, with a total of 78 ranked companies. This year’s runner-up, Ardom Telecom, is a product of Indian telecommunications and networking innovation.
Taiwan, which ranked No. 1 last year, ranks No. 2 in 2013 with 108 companies in the top 500, marking the sixth time that a Taiwanese company earned the top rank in over the past 10 years.
Australia saw substantial growth for the third consecutive year, with 66 companies ranking in the top 500, which is six more than in 2012 and 13 more than in 2011. As for Japan, which ranked seventh in terms of number of companies in the top 500, it distinguished itself by being the only market with two in the top five: Locondo, Inc., an eCommerce company selling shoes and bags online, and Donuts Co. Ltd., a mobile social game and social services provider.
In terms of sectors, while five out of the top 10 fastest growing companies in 2012 were in the Internet or software sector, that number jumped to eight of 10 in 2013, including this year’s No. 1.
Leading the list with 161 companies, the software sector saw a notable increase from the 119 companies it claimed in the top 500 in 2012. The semiconductor, components and electronics sector ranked second (116 companies) and the internet sector remained at third (104 companies).