US dominates global public tech market cap Global markets are showing signs of stabilisation. With the exception of China, all global regions have seen some recovery in public market values since the 2021 peak. The United States continues to dominate, capturing 70% of the global market cap at $17T. At just $1.4T in total market cap, Europe captures only a mid-single-digit percentage (6%) of the total public market capitalisation of global technology companies, despite capturing four positions within the top 10 countries by tech market cap. Total market cap ($T) per region, 2021 to 2023 2021 2022 2023 25 20 ) T 15 $ ( p a c t e k r a 10 M 5 0 United States China Europe RoW Notes: Sources: S&P Capital IQ Platform, as of date 30 September 2023, for illustrative purposes only. | 240