Biggest European tech companies in 2026: the ranking

ASML is Europe's biggest listed tech company by stock-market value: about $631 billion in October 2026. SAP is second, at about $263 billion. Change the measure and the list changes: private companies are valued at their last funding round, and industrial groups like Bosch are ranked by sales.

Key takeaways

• ASML is number one in Europe by market value, ahead of SAP and Arm. Share prices move daily, so the order can shift.
• Three of the top eight are based in the Netherlands: ASML, Prosus and NXP Semiconductors. Chip companies fill much of the list.
• "Biggest" means three different things: market value for listed companies, sales for industrial groups, last funding round for private ones.
• Bosch sold €91.0 billion in 2025, more than many listed tech firms, but it has no public market capitalisation because it is not on the stock market.
• Revolut, Helsing and Mistral AI sit in a separate table. Their values come from one transaction on one date, not a live share price.

The biggest European tech companies at a glance

This table ranks listed European-headquartered companies by market capitalisation, which is the share price multiplied by the number of shares. Some of them trade in New York rather than in Europe. All figures are in US dollars and rounded.

Market value is not the same as sales, and neither is the same as profit.

The eight biggest European tech companies by market value

1. ASML - Netherlands, chipmaking equipment

ASML builds the machines that print circuit patterns onto silicon. Its advanced EUV systems use extreme ultraviolet light. They are used to manufacture the most advanced chips. ASML's 2025 sales were €32.7 billion. Its shares trade in Amsterdam and on Nasdaq, a US stock exchange.

2. SAP - Germany, business software

SAP sells the software big organisations run their finance, supply chains and HR on. It is the leading enterprise software company in this market-cap list. Revenue reached €36.8 billion in 2025. €21.0 billion came from cloud services. Customers rent this software by subscription instead of installing it themselves. That switch to subscriptions is the story investors follow. On 6 and 17 July 2026, SAP completed its acquisitions of Dremio and Prior Labs, adding data-platform and AI research tools.

3. Arm - United Kingdom, chip designs

Arm develops and licenses processor designs and related technology to chipmakers, earning licensing fees and royalties on chips that use its designs. Revenue for the year to 31 March 2026 was $4.92 billion. Arm is headquartered in Cambridge and its shares trade on Nasdaq.

4. Prosus - Netherlands, internet investment group

Prosus owns stakes in internet businesses rather than selling one product. It reported $9.7 billion of revenue for the year to 31 March 2026 and held 22.66% of the Chinese internet group Tencent at that date. Food delivery and online marketplaces make up much of the rest. Its shares trade on Euronext Amsterdam. On 16 July 2026, Prosus agreed to sell its remaining 16.8% Delivery Hero stake to Uber as part of a €41.50-a-share takeover offer.

5. Spotify - Sweden, music streaming

Spotify is the most valuable consumer tech company on this list and the Nordic heavyweight. Founded and headquartered in Stockholm, it lists its shares in New York. In the second quarter of 2026 it reported 777 million monthly listeners, 300 million paying subscribers and €4.8 billion of revenue in the quarter. On 12 August 2026, Spotify raised Premium prices in the Netherlands, Belgium and Luxembourg; the individual plan became €13.99 a month in the Netherlands and Belgium.

6. Infineon Technologies - Germany, chips

Infineon makes chips for cars, industrial power systems and connected devices. Think of the electronics inside an electric car or a factory motor. Revenue was €14.662 billion for its financial year ending 30 September 2025. It is listed in Frankfurt.

7. RELX - United Kingdom, information and analytics

RELX sells information and analysis tools to professionals: scientists, lawyers, insurers and risk teams. Customers pay for data and the software that makes sense of it. Revenue in 2025 was £9.590 billion, with customers in more than 180 countries and territories. Its shares trade in London, Amsterdam and New York.

8. NXP Semiconductors - Netherlands, chips

NXP makes chips for cars, factories, payment terminals and connected devices. Revenue was $12.269 billion in 2025. Its head office is in Eindhoven and its shares trade on Nasdaq.

Europe's biggest private tech companies

These companies are not on the stock market. Their value can come from a funding round. This is when a company raises money by selling shares. It can also come from a sale of existing shares by employees and early investors. That number can be months old and can fall as well as rise.

Revolut is the largest by value: $115 billion in a July 2026 share sale, and it reported 69.1 million customers at the end of 2025. ElevenLabs doubled to $22 billion on 30 September 2026. Sweden's Lovable, which lets people build web apps by typing instructions in plain language, said users had created more than 60 million projects by August 2026.

Europe's industrial tech giants by revenue

Selling a lot and being worth a lot are different things. These three groups sell more than most companies in the market-cap table, but they are ranked here by annual sales instead.

Bosch has no public market capitalisation: it is not listed, and the Robert Bosch Stiftung foundation holds roughly 94% of its share capital. Siemens is listed in Frankfurt. Ericsson, listed in Stockholm, builds mobile network equipment and is Sweden's other tech heavyweight alongside Spotify.

What the ranking says about Europe

Europe's giants mostly sell to other businesses, not to consumers. Machines that make chips. Chips themselves. Software that large firms cannot easily swap out. Data tools that professionals pay for every year.

That pattern is stable for a simple reason: these are long, sticky customer relationships built on engineering that takes decades to copy.

The country map is clear too. The Netherlands takes three of the top eight, all tied to chips or internet investment. Germany takes two, one in software and one in chips. The United Kingdom takes two. Sweden takes one, and shows up again in the private table through Lovable.

None of this captures the younger layer. In a single week, Tech.eu counted more than 65 European tech funding deals worth over €1.8 billion, reported on 19 October 2026. That activity sits entirely outside the listed names above.

Frequently asked questions

Is ASML the biggest tech company in Europe?

Yes, by stock-market value in October 2026, at roughly $631 billion against SAP's $263 billion. Market values move with share prices every trading day, so the gap can widen or narrow. A ranking by annual sales looks different: Bosch sold €91.0 billion in 2025, almost three times ASML's €32.7 billion, yet Bosch has no share price at all.

What is Europe's biggest software company?

SAP is the leading enterprise software company in this market-cap list. It is worth about $263 billion on the stock market and reported €36.8 billion of revenue in 2025. Its business applications support functions including finance, supply chains and HR.

What are the biggest private tech companies in Europe?

Revolut leads at $115 billion from a July 2026 share sale, followed by ElevenLabs at $22 billion and Mistral AI at more than €21 billion. Germany's Helsing, which builds AI software for defence, reached $18 billion in July 2026. None of these is a live price. Each is one transaction, on one date, between a limited set of buyers and sellers.

Why are Siemens and Bosch missing from most tech rankings?

Two reasons. First, both are classed as industrial groups rather than technology companies, even though Siemens sells industrial software and Bosch makes electronics. Second, market-cap rankings only work for listed companies, and Bosch is privately owned. There is no share price to multiply. That is why both appear in a separate revenue table here.

Sources

• ASML - Q4 2025 financial results (January 2026)
• SAP News - SAP releases Integrated Report 2025 (February 26, 2026)
• Prosus - Prosus gives irrevocable undertaking to sell residual stake in Delivery Hero to Uber (2026)
• Spotify Newsroom - Spotify Reports Second Quarter 2026 Earnings (August 4, 2026)
• Reuters - ElevenLabs’ valuation doubles to $22 billion on surging AI voice-agent demand (September 30, 2026)
• Bosch - Annual press conference 2026 (April 16, 2026)
• Tech.eu - European tech weekly recap: More than 65 tech funding deals worth over €1.8B (October 19, 2026)