Tokopedia, PatSnap among 8 fastest-growing firms by revenue in Southeast Asia

Eight companies from Southeast Asia have been listed in the 2020 Asia Pacific Technology Fast 500 index by professional services network Deloitte Touche Tohmatsu. This year’s list includes Indonesian ecommerce startup Tokopedia and Singapore-headquartered patent insights provider PatSnap.

This index is an annual ranking of Asia Pacific’s fastest-growing firms in the hardware, software, communications, media, life sciences, and clean technology industries. The companies are selected based on their percentage of fiscal year revenue growth over three years.

Photo credit: Tokopedia

Among the Southeast Asian firms, Malaysia’s ARB Berhad, an IT and internet-of-things solutions and services provider, leads at 72nd place with 799% growth. Meanwhile, Tokopedia is ranked at 94th place with 608% growth.

They are followed by Blue Wireless (311%), Cresco Data (237%), vKirirom (147%), Ivy Mobile Technologies (132%), Involve Asia Technologies (109%), and PatSnap (94%).

“Even though the Covid-19 pandemic has brought about unprecedented disruptions to businesses in the last year, it has also catalyzed digital transformation across Southeast Asia as companies pivoted to respond, recover, and thrive,” said Yang Chi Chih, Deloitte Southeast Asia’s technology, media and telecommunications industry leader.

“Looking ahead, we expect technology companies in the region to continue this growth trajectory, focusing and leveraging on 5G technology, cloud, and data analytics,” he added.

Terminus Technologies, a Chinese software company that provides smart solutions on public security, administration, and services to government agencies and corporations, claimed the no.1 spot in the index by posting a 17,915% growth rate.

With 175 companies represented in the list, mainland China maintained its leading position by taking five of the top 10 spots, followed by Australia, Taiwan, and Japan.

Photo credit: Deloitte

But because of Covid-19, the average revenue growth in 2020 was at 551%, marking a decrease from 717% in 2019 and a record high of 987% in 2018.