Top 20 mid-sized high-tech companies in the US

This article lists the top 20 mid-cap technology companies in the United States. If you want to skip the discussion about the technology industry, check out Top 7 Mid-Cap Technology Companies in the US.

Global technology spending is projected to reach $11.47 trillion by 2026. This shows that a compound annual growth rate (CAGR) of 7.75% is expected over his five years from 2022, when annual spending on technology was $8.51 trillion. .

Although the technology industry faced some challenges in 2023, it moved forward and delivered strong results. It was also a year of great excitement regarding the capabilities of artificial intelligence (AI). But in 2024, companies are considering prioritizing AI in their strategies to outperform their competitors.

This is the year of AI deals and partnerships that could shape the future. It has already been reported that Apple, Inc. (NASDAQ: AAPL) is in talks with Alphabet, Inc. (NASDAQ: GOOG) for his Gemini-powered features on the iPhone. Gemini is a generative artificial intelligence chatbot developed by Google.

Going forward, spending on software and IT services, supported by cloud computing and cyber security, is expected to dominate the market. Tech companies will continue to experiment with various AI-related applications. In a Deloitte survey, 52% of technology leaders say AI will be a dominant technology in 2024. Additionally, an overwhelming 47% of technology leaders vouch for computing. Furthermore, 27% of respondents believe that AI will be transformative for businesses in 2024.

The United States is at the forefront of global technology and innovation. This sets the pace of progress in various areas. The country also holds a staggering 36% share in the global information and communication technology (ICT) sector. Additionally, the Consumer Technology Association predicts that the US consumer technology industry's retail revenue will reach $512 billion in 2024, an increase of 2.8%.

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2023 has been a challenging year for the tech sector, but the AI ​​boom has led major tech stocks like Microsoft (NASDAQ:MSFT) and Metaplatforms (NASDAQ:META) to see big gains. . Analysts believe that tech companies are just getting started with AI innovation. The new era of profits that began with the launch of his ChatGPT and Generative AI in late 2022 will continue to bring positive results in the technology sector in 2024 and beyond.

AI is also helping small and medium-sized technology companies make a name for themselves by disrupting large companies. Theia Insights is an example of a small business that has the potential to disrupt an entire industry with the help of AI. The company claims that through AI, it can extract vast amounts of information and help investors make better decisions. Theia Insights also recently raised $6.5 million.

Another AI-related trend in the technology industry is the formation of partnerships within and outside the industry. We've already seen how Apple, Inc. (NASDAQ:AAPL) and Alphabet, Inc. (NASDAQ:GOOG) are reportedly in talks to integrate generative AI into the iPhone. Interestingly, Apple, Inc. (NASDAQ: AAPL) stock rose 4% following these reports.

AI is also forcing technology companies like Microsoft Corporation (NASDAQ:MSFT) to partner outside of their industry, particularly in the form of collaboration between the vendor and end-user industries. Microsoft Corporation (NASDAQ:MSFT) has collaborated with LV Prasad Eye Institute in Hyderabad, India, to incorporate machine learning and bring data-driven eye care services to India.

Top 20 mid-sized high-tech companies in the US

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methodology

To create our list of the top 20 mid-cap technology companies in the U.S., we started by defining mid-cap stocks. For this list, we selected only companies with market capitalizations between $10 billion and $20 billion. We then categorized the companies based on market capitalization and selected the top 20 companies.

So let's take a look at our list of the top 20 mid-cap tech companies in the US.

Incidentally, Insider Monkey is an investment site that tracks the movements of company insiders and hedge funds. Using a similar consensus approach, we identify the best stock picks for over 900 hedge funds investing in US stocks. The top 10 hedge fund consensus stocks outperformed the S&P 500 by over 140 percentage points over the past 10 years. Whether you're a novice investor or an expert looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and company insiders.

20 – Dynatrace, Inc. (NYSE:DT) Market Cap – $13.71 billion

Headquartered in Waltham, Massachusetts, Dynatrace Dynatrace, Inc. (NYSE:DT) specializes in observability and applications. The company offers a wide range of services and products, including AI-powered observability solutions. One of his proprietary solutions at the company includes Davis, an AI engine that combines various AI techniques for automated root cause fault tree analysis, predictive analytics, and generative AI. Dynatrace, Inc. (NYSE:DT) also partners with leading service providers such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform to provide multicloud observability for SAAS and managed service deployment models. .

19 – Gen Digital, Inc. (NASDAQ:GEN) Market Cap – $14.07 billion

Gen Digital, Inc. ranks 19th on the list of the top 20 mid-cap companies in the United States. The company focuses on providing technology solutions for digital life. Gen Digital, Inc. (NASDAQ:GEN)'s main products are focused on cybersecurity and digital safety, designed to protect individuals and families from digital threats, and are designed to protect individuals and families from digital threats. emphasizes the importance of

18 – Zebra Technologies Corporation (NASDAQ:ZBRA) Market Cap – $14.97 billion

Zebra Technologies Corporation (NASDAQ:ZBRA) is one of the top 20 mid-cap technology companies in the United States. We specialize in mobile computing, marking, tracking, and computer printing technologies. Zebra Technologies Corporation (NASDAQ:ZBRA) is headquartered in Lincolnshire, Illinois. We offer a wide range of products including RFID printers/encoders, barcode printers, and mobile printers.

17 – Manhattan Associates (NASDAQ:MANH) Market Cap – $15.41 billion

Manhattan Associates (NASDAQ:MANH) ranks No. 17 on the list of the top 20 mid-cap technology companies in the United States. We specialize in providing supply chain commerce solutions. The company has a reputation for developing technology solutions that address complex business challenges in the supply chain. Manhattan Associates, Inc. (NASDAQ:MANH) provides a suite of software solutions designed to manage supply chain, inventory and omnichannel operations for a variety of industries.

16 – Enphase Energy, Inc. (NASDAQ:ENPH) Market Cap – $15.44 billion

Enphase Energy, Inc. (NASDAQ:ENPH), headquartered in Fremont, California, is an American technology company that develops and manufactures solar microinverters, battery energy storage solutions, and EV charging stations. Innovative microinverter technology converts DC power generated by solar panels into grid-compatible AC. Enphase Energy, Inc. (NASDAQ:ENPH) has experienced significant growth and success over the years.

15 – EPAM Systems, Inc. (NYSE:EPAM) Market Cap – $15.55 billion

EPAM Systems, Inc. (NYSE:EPAM) ranks No. 15 on our list of the top 20 mid-cap tech companies in the United States. We specialize in software engineering services, digital platform engineering, and digital product design. EPAM Systems, Inc. (NYSE:EPAM) has a long-standing focus on innovation and growth. We have expanded our services through strategic acquisitions and partnerships.

14 – Nutanix, Inc. (NASDAQ:NTNX) Market Cap – $15.66 billion

Founded in 2009 and headquartered in San Jose, California, Nutanix, Inc. (NASDAQ:NTNX) is a leading provider of multicloud computing solutions. Its products and services enable organizations to manage and optimize their cloud infrastructure. Nutanix, Inc. (NASDAQ:NTNX) has achieved significant growth and success in the industry with its enterprise operating systems.

13 – SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Market Cap – $15.77 billion

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) ranks No. 13 on the list of the top 20 mid-cap tech companies in the United States. The company provides various services in the fintech field. SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) serves a variety of industries, including wealth management.

12 – Trimble, Inc. (NASDAQ:TRMB) Market Cap – $15.77B

Trimble, Inc. (NASDAQ: TRMB) is a technology company focused on providing solutions that help customers work in new ways and improve productivity, quality, safety, transparency and sustainability. Its core technologies include physical modeling, connectivity, and data analysis. Trimble, Inc. (NASDAQ:TRMB) offers a diverse range of products and services to access industries such as construction, agriculture, and transportation.

11 – Robinhood Markets, Inc. (NASDAQ:HOOD ) Market Cap – $16 billion

Robinhood Markets, Inc. (NASDAQ:HOOD ) ranks No. 11 on the list of the top 20 mid-cap tech companies in the United States. It is a financial services platform that provides intermediation and cash management applications. Robinhood Markets, Inc. (NASDAQ:HOOD ) is headquartered in Menlo Park, California and serves customers throughout the United States.

10 – Pure Storage, Inc. (NYSE:PSTG) Market cap – $16.5 billion

Pure Storage, Inc. (NYSE:PSTG) is a top 10 mid-market high-tech company in the United States. The company specializes in providing advanced data storage and services. We offer a variety of solutions designed to make data storage easier and faster. Pure Storage, Inc.'s (NYSE:PSTG) products include software-defined storage, cloud data services, and solutions for artificial intelligence (AI) workloads.

9 – Akamai Technologies, Inc. (NASDAQ:AKAM) Market Cap – $16.51 billion

Akamai Technologies, Inc. (NASDAQ:AKAM) specializes in providing cloud services for online content and business applications. Its expertise includes delivering, optimizing, and securing online content and business applications. Akamai Technologies, Inc. (NASDAQ:AKAM) also offers a wide range of products, including security solutions, media distribution services, and operator tools.

8 – Skyworks Solutions, Inc. (NASDAQ:SWKS) Market Cap – $16.91 billion

Skyworks Solutions, Inc. (NASDAQ:SWKS) ranks No. 8 on the list of the top 20 mid-cap tech companies in the United States. The company is an American semiconductor company specializing in the design and manufacturing of high-performance analog and mixed-signal semiconductor solutions. Skyworks Solutions, Inc.'s (NASDAQ:SWKS) products are used in electronic devices such as smartphones, tablets, and smart home devices.

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