I thinky you're right and this also applies to the single market. The tech sector is fragmented not just because of language/culture but because of different regulatory regimes in each country. The EU tries to solve that for member states but even that is stymied by so many competing national interests. The EU can't seem to agree between it being a club of nations or a single state and so we end up with a mix instead - it fails to be the best of either option as a result.

Also it doesn't help that the UK has left the EU nor the attitude in Europe generally allowing international companies to buy up tech companies. Look at ARM - UK based chip manufacturer but bought out by a Japanese company and now being floated on the US stock market.

For me the failure of a European tech giant to emerge is in part due to a failure of the EU. It needs to decide what it wants to be and push in that direction. The half way house to try and keep everyone happy is not working and it is one of the reasons the UK left (it was a close referendum and many factors played into the vote but it's been easier for people to simplify that story to black/white and entirely the UKs fault and based out of narrow issues, so there has been no real look at the many factors that drove that decision and no effort in the EU to look at what it could and should be doing to be better).