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Charted: The Industries Where Asian Companies are the Strongest

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A chart showing the the share of Asian companies in the top 3,000 global firms—measured by market cap in 2020—broken down by sector and industry.

The Industries Where Asian Companies are the Strongest

The last 30 years of globalization have benefited Asia greatly.

As a result of deepening trade relations and access to other markets, Asian companies have grown in output and prominence. But which sectors do they excel in?

Using data from McKinsey Global Institute we visualize Asian companies’ share of the top 3,000 global companies, broken down by industry, revenue, and patent share.

A top 3,000 company was defined as having a market capitalization of over $5 billion in 2020.

Ranking Asia’s Strongest Industries

Unsurprisingly, among the top 3,000 companies globally, Asian companies are most prevalent in the manufacturing sector. Specifically, the region’s strength is in industries like consumer electronics, industrial electronics, electric vehicles, and semiconductors.

For many Asian countries, manufacturing is the bulwark of the economy. In Asia’s largest economy, China, the manufacturing sector accounts for nearly one-third of economic output. In Asia’s 13th largest economy, Vietnam, it accounts for almost one-fourth of gross domestic product.

However, manufacturing isn’t all what Asia is known for anymore. Here’s a full list of the top Asian companies’ share in various industries.

IndustryAsian Share of Top 3,000 CompaniesRevenue Share (%)Patent Share (%)
Consumer electronics69%64%77%
Industrial electronics62%68%91%
Electric vehicles67%45%96%
Semiconductors57%45%54%
Consumer internet39%32%12%
Biopharma26%9%3%
E-commerce22%31%50%
Online payments19%17%<1%

Note: The top 3,000 companies list is industry agnostic; companies are classified by sector according to their main business.

Another fast-growing industry where Asian companies are thriving is in the consumer internet services space. Asia is home to half of the world’s internet users, which is driving innovation within the region’s online services industry.

And even though Asia is home to “only” 22% of e-commerce companies within the top 3,000, these firms accounted for 50% of patents granted.

Five Distinct “Asias”

Asia is of course a vast place, and for this reason McKinsey divides the Asia-Pacific region into five distinct “Asias” to get a more granular view. For the most part, they use UN country groupings here, though McKinsey notes it excludes parts of Western Asia (i.e. the Middle East) due to dissimilarities with other Asia-Pacific economies:

  • Advanced Asia: High per-capita GDP, urbanization, and connectivity. Includes Australia, New Zealand, Japan, South Korea, and Singapore.
  • China: 18% of global GDP and population.
  • Emerging Asia: Southeast Asia, strong regional connections and trade. Includes Indonesia, Vietnam, Thailand, and others.
  • India: 18% of global population but only 3% of global GDP.
  • Frontier Asia: Limited integration, large populations and potential. Includes Pakistan, Bangladesh, Sri Lanka, and others.

McKinsey noted that the region is economically integrated—without formal political governance and despite sometimes being at odds with each territorially—with 59% of Asian trade done with other Asian countries.

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Mapped: The Industry Hiring the Most People In Every Country

The restaurant industry has the most vacancies in the U.S., followed by non-profit organizations.

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Mapped: The Industry Hiring the Most People In Every Country

Job searching can be challenging, especially when you are located in a region where your skills may not be in high demand.

This map illustrates which industry is hiring the most people in every country, based on LinkedIn job listings searched by Resume.io. This analysis only considers countries with 300 or more job listings and data is as of August 2023.

The Top Job Postings in America, Canada, the UK, and Australia

The restaurant industry had the most vacancies in the U.S., accounting for 7.9% of all job ads. It was followed by non-profit organizations with 5.6%, and motor vehicle manufacturing with 4.4%:

U.S. Industry by Job Ads% of Job Ads
Restaurants7.86%
Non-profit Organizations5.59%
Motor Vehicle Manufacturing4.41%
Software Development4.28%
Hospitality4.07%
Wellness and Fitness Services3.78%
Financial Services3.76%
Transportation, Logistics, Supply Chain, Storage3.61%
Internet Publishing3.59%
Defense and Space Manufacturing3.53%

According to the study, the trend in restaurant hiring is indicative of America’s return to eating out after the COVID-19 pandemic.

Meanwhile, hospitals and health care were Canada’s biggest potential employers, with almost 15% of all job ads. Retail came in second with 12.4%, followed by staffing and recruitment with 6.8%:

Canadian Industry by Job Ads% of Job Ads
Hospitals and Health Care14.82%
Retail12.45%
Staffing and Recruiting6.85%
Human Resources Services4.61%
IT Services and IT Consulting3.86%
Technology, Information and Internet3.75%
Financial Services3.53%
Manufacturing3.16%
Internet Publishing2.85%
Construction2.61%

In the UK, the construction industry had the most wanted ads with 9.2%. Britain’s construction industry has faced ongoing worker shortages, exacerbated by Brexit, which has prevented EU citizens from working in the UK without visas:

UK Industry by Job Ads% of Job Ads
Construction9.22%
Industrial Machinery Manufacturing6.03%
Education Administration Programs5.78%
Financial Services4.88%
Non-profit Organizations4.69%
Civil Engineering3.99%
Motor Vehicle Manufacturing3.62%
Accounting3.45%
Advertising Services3.43%
Hospitality3.36%

Just three sectors accounted for over 30% of the jobs available in Australia. Government administration was the sector hiring the most people (11.60%), followed by staffing and recruiting (10.8%) and hospitals and health care (10.2%):

Australian Industry by Job Ads% of Job Ads
Government Administration11.60%
Staffing and Recruiting10.81%
Hospitals and Health Care10.20%
Retail6.85%
IT Services and IT Consulting5.55%
Financial Services3.06%
Construction3.01%
Education Administration Programs2.68%
Human Resources Services2.54%
Software Development2.24%

Industry Hiring In Every Country by Job Ads in 2023

Across all countries, two sectors posted the most wanted ads in the most countries (28), staffing and recruiting and IT services and IT consulting. Healthcare and retail industries also appear among those in high demand.

CountryIndustry
🇦🇱 AlbaniaInternet Publishing
🇩🇿 AlgeriaBanking
🇦🇴 AngolaHuman Resources Services
🇦🇷 ArgentinaHuman Resources Services
🇦🇲 ArmeniaSoftware Development
🇦🇺 AustraliaGovernment Administration
🇦🇹 AustriaRetail
🇦🇿 AzerbaijanBanking
🇧🇭 BahrainStaffing and Recruiting
🇧🇩 BangladeshSoftware Development
🇧🇪 BelgiumStaffing and Recruiting
🇧🇴 BoliviaHuman Resources Services
🇧🇦 Bosnia and HerzegovinaSoftware Development
🇧🇷 BrazilTechnology, Information and Internet
🇧🇬 BulgariaIT Services and IT Consulting
🇰🇭 CambodiaHospitality
🇨🇦 CanadaHospitals and Health Care
🇰🇾 Cayman IslandsIT Services and IT Consulting
🇹🇩 ChadStaffing and Recruiting
🇯🇪 Channel Islands (Jersey)Financial Services
🇨🇱 ChileHuman Resources Services
🇨🇳 ChinaTechnology, Information and Internet
🇨🇴 ColombiaHuman Resources Services
🇨🇩 Congo (Democratic Republic of the)Hospitality
🇨🇷 Costa RicaIT Services and IT Consulting
🇭🇷 CroatiaIT Services and IT Consulting
🇨🇾 CyprusTechnology, Information and Internet
🇨🇿 Czech RepublicStaffing and Recruiting
🇩🇰 DenmarkRetail
🇩🇴 Dominican RepublicInsurance
🇪🇨 EcuadorIT Services and IT Consulting
🇪🇬 EgyptTechnology, Information and Internet
🇸🇻 El SalvadorHuman Resources Services
🏴󠁧󠁢󠁥󠁮󠁧󠁿 EnglandStaffing and Recruiting
🇪🇪 EstoniaTechnology, Information and Internet
🇪🇹 EthiopiaSoftware Development
🇫🇮 FinlandIT Services and IT Consulting
🇫🇷 FranceStaffing and Recruiting
🇬🇫 French GuianaIT Services and IT Consulting
🇬🇪 GeorgiaStaffing and Recruiting
🇩🇪 GermanyStaffing and Recruiting
🇬🇭 GhanaHigher Education
🇬🇷 GreeceTechnology, Information and Internet
🇬🇵 GuadeloupeTechnology, Information and Internet
🇬🇹 GuatemalaHuman Resources Services
🇭🇹 HaitiStaffing and Recruiting
🇭🇳 HondurasIT Services and IT Consulting
🇭🇰 Hong Kong (SAR)Financial Services
🇭🇺 HungaryIT Services and IT Consulting
🇮🇸 IcelandHigher Education
🇮🇳 IndiaStaffing and Recruiting
🇮🇩 IndonesiaHospitality
🇮🇶 IraqDefense and Space Manufacturing
🇬🇧 Ireland (Northern)Staffing and Recruiting
🇮🇪 Ireland (Republic of)Staffing and Recruiting
🇮🇲 Isle of ManHuman Resources Services
🇮🇱 IsraelSoftware Development
🇮🇹 ItalyRetail
🇯🇲 JamaicaStaffing and Recruiting
🇯🇵 JapanIT Services and IT Consulting
🇯🇴 JordanTechnology, Information and Internet
🇰🇿 KazakhstanIT Services and IT Consulting
🇰🇪 KenyaSoftware Development
🇰🇼 KuwaitDefense and Space Manufacturing
🇰🇬 KyrgyzstanIT Services and IT Consulting
🇱🇻 LatviaIT Services and IT Consulting
🇱🇧 LebanonTechnology, Information and Internet
🇱🇮 LiechtensteinStaffing and Recruiting
🇱🇹 LithuaniaIT Services and IT Consulting
🇱🇺 LuxembourgStaffing and Recruiting
🇲🇴 MacaoHuman Resources Services
🇲🇰 Macedonia (North)Technology, Information and Internet
🇲🇾 MalaysiaFinancial Services
🇲🇹 MaltaTechnology, Information and Internet
🇲🇶 MartiniqueTechnology, Information and Internet
🇲🇺 MauritiusFinancial Services
🇲🇽 MexicoIT Services and IT Consulting
🇲🇩 MoldovaInternet Publishing
🇲🇨 MonacoStaffing and Recruiting
🇲🇦 MoroccoIT Services and IT Consulting
🇲🇲 MyanmarStaffing and Recruiting
🇳🇵 NepalSoftware Development
🇳🇱 NetherlandsStaffing and Recruiting
🇳🇿 New ZealandStaffing and Recruiting
🇳🇮 NicaraguaIT Services and IT Consulting
🇳🇬 NigeriaHuman Resources Services
🇳🇴 NorwayStaffing and Recruiting
🇴🇲 OmanStaffing and Recruiting
🇵🇰 PakistanSoftware Development
🇵🇦 PanamaIT Services and IT Consulting
🇵🇬 Papua New GuineaStaffing and Recruiting
🇵🇾 ParaguayTelecommunications
🇵🇪 PeruHuman Resources Services
🇵🇭 PhilippinesIT Services and IT Consulting
🇵🇱 PolandIT Services and IT Consulting
🇵🇹 PortugalIT Services and IT Consulting
🇵🇷 Puerto RicoRetail
🇶🇦 QatarStaffing and Recruiting
🇷🇪 ReunionBusiness Consulting and Services
🇷🇴 RomaniaIT Services and IT Consulting
🇷🇺 RussiaTechnology, Information and Internet
🇸🇭 Saint HelenaSoftware Development
🇸🇦 Saudi ArabiaStaffing and Recruiting
🏴󠁧󠁢󠁳󠁣󠁴󠁿 ScotlandStaffing and Recruiting
🇸🇳 SenegalStaffing and Recruiting
🇷🇸 SerbiaIT Services and IT Consulting
🇸🇬 SingaporeStaffing and Recruiting
🇸🇰 SlovakiaIT Services and IT Consulting
🇸🇮 SloveniaTechnology, Information and Internet
🇿🇦 South AfricaStaffing and Recruiting
🇰🇷 South KoreaIT Services and IT Consulting
🇪🇸 SpainIT Services and IT Consulting
🇱🇰 Sri LankaIT Services and IT Consulting
🇸🇪 SwedenGovernment Administration
🇨🇭 SwitzerlandInternet Publishing
🇹🇼 TaiwanSoftware Development
🇹🇭 ThailandSoftware Development
🇹🇳 TunisiaSoftware Development
🇹🇷 TurkeySoftware Development
🇻🇮 U.S. Virgin IslandsIT Services and IT Consulting
🇺🇬 UgandaEducation Administration Programs
🇺🇦 UkraineSoftware Development
🇦🇪 United Arab EmiratesTransportation, Logistics, Supply Chain and Storage
🇬🇧 United KingdomConstruction
🇺🇸 United States of AmericaRestaurants
🇺🇾 UruguaySoftware Development
🇻🇪 VenezuelaConsumer Services
🇻🇳 VietnamSoftware Development
🏴󠁧󠁢󠁷󠁬󠁳󠁿 WalesConstruction

Which countries or industries stand out the most to you?

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