New Zealand’s Top 200 Tech Companies See $12.1 Billion Revenue Bump In 2019
New Zealand’s top 200 tech companies see $12.1 billion revenue bump in 2019
New Zealand’s technology sector had a lot to celebrate when it rang in the new year in January. The TIN200 – the top 200 tech companies in the country – saw a $12.1 billion increase in revenues over the course of 2019, helping to firmly solidify New Zealand as a global player on the technology stage.
New Zealand’s robust technology sector – which offers products and services including wireless infrastructure, health IT, digital content, payments, geospatial, and telecom – experienced 12% growth in 2019, most of which is tied to a growing export market.
Key players in the New Zealand tech industry include long time staples like Xero, Rocket Lab, and Rex Bionic, as well as relative newcomers like Pushpay, Soul Machines, and Syft. These companies operate in global markets that span robotics, accounting software, aerospace, Fin Tech, artificial intelligence and agricultural technology.
ADInstruments, which grew out of Otago University’s biology department, has found a niche for itself in the booming online learning sector, and is a world leader in obscure research equipment such as working heart systems.
The diversity of New Zealand’s tech sector bodes well for continued growth in the future, as does the rich talent pool that exists in the country. Local tech firms employ about 50,000 people worldwide, half of whom are based in New Zealand. Local talent is a key component for continued growth in the future.
“Our tech sector is sending a strong messaging that it has the potential to become our country’s leading source of offshore revenue,” says TIN founder and managing director, Greg Shanahan. “We’re very excited to see the potential this this long-term sustainable growth presents.”