The United States is home to a robust ecosystem of technology companies, including Google, Facebook, Amazon and Netflix, but India’s is a bit more haphazard, according to research firm Technavio.
Tech giants like Facebook and Google have a significant presence in India, but it is not as pronounced as in the United States.
It also has a smaller user base and lower revenues than the United Kingdom and France, Technavios found.
India’s technology sector has also struggled to grow, with India’s revenue growing by only 6% between 2014 and 2017.
Indian companies are also less profitable than their American counterparts, Technapians found.
Tech companies, which typically take the brunt of US competition, have suffered because of their smaller user bases and lower revenue.
Technavio found that India has the fifth-largest user base in the world, but only 5% of its online users are active users, according.
Tech firms also have a much smaller user-base compared to those in the U.S., with India having about 40% of the population.
India is home for about 8 million tech workers, according TechnavIO, which is about a third of the total workforce in the country.
The tech sector has been growing slowly for years, with growth of just 3% in the US in 2020 and less than 3% for India.
It is expected to see an increase of 4% for 2020, Technacities reported.
As the United State’s tech sector continues to grow and gain ground, India is taking its technology companies and their workers to new markets.
Indian startups have had to take on a more competitive position with the U, however, Technaspor said in its report.
The U.K. and France have strong homegrown tech companies, but the Indian companies are less well-known, the report said.
For instance, in 2017, Google was a $2 billion company and had more than 1,400 employees.
In 2018, it was a billion-dollar company and only 10 employees, according, Technadog.
While the U-K.
has had to compete against India’s fast-growing companies, India’s success has been less obvious, according the report.
India’s growth is not a surprise to some tech executives in the States, who have long seen it as a way to get into the market faster.
In 2017, the U.-S.
Chamber of Commerce reported that India had attracted more than $2.2 trillion in investments in the tech sector in the last five years.
Despite its recent successes, the Indian tech sector still has a long way to go before it is competitive with the United states.
Read more from Technapedia: India’s startup ecosystem lags behind U.s. tech companiesThe report also found that the United countries tech industry has been slower to develop in the past few years than the Indian one.
Overall, India accounted for about 12% of total investments in technology companies in the first five years of the millennium, but had just 8% in 2019, Technafacts said.