New Zealand's technology industry continues to rise, with Wellington-based Datacom leading the charge.

The IT services company was named our fastest-growing tech business for the second year in a row in the annual TIN100 report released today, achieving revenue of $725 million.

The company is now second overall, behind Fisher - Paykel Appliances and ahead of Fisher - Paykel Healthcare.

The industry generated total revenue of $7.014 billion, representing a 4.7% increase over last year's $6.7 billion. $5.103 billion was generated in exports.

The TIN100 is published by Technology Investment Network. In his introduction to the report, managing director Greg Shanahan says his enthusiasm for the technology sector is not because technology is ‘cool'.

"The world is up for grabs,” Shanahan says.

"This is a difficult but exciting time for the technology sector.

Shanahan is particularly encouraged by the fact that the number of companies with revenues over $50 million topped 30 for the first time.

"It is evidence of a maturing sector increasingly defined by larger, more capable companies.

ICT is one of three sectors covered by the TIN100 report, the others being high-tech manufacturing and biotechnology. Go here to purchase a copy, or here to read our story on how the tech industry can save the New Zealand economy.