With the end of 2016, the Boston Consulting Group conducted a survey of over 50 companies and compiled its rankings for the year of the world’s most innovative companies. Nearly 70% of all 50 companies and 80% of the coveted Top Ten are American.
Apple ranked #1 for 11th year in a row Photo Credit: Reuters/Channel 2 News
According to a new survey conducted by the Boston Consulting Group (BCG) around 70% of the world’s most innovative companies in 2016 are American. For their 11th annual global survey on the state of innovation, BCG polled and ranked 50 companies around the world.
Their Top Ten list is, as expected, dominated by American companies which have taken the top six spots: Apple, Google, Tesla, Microsoft, Amazon and Netflix.
2016’s Top Ten Most Innovative Companies:
Most of the rankings do not come as a surprise, especially for Apple which has made the top of BCG’s list for the 11th year in a row. The top four tech firms that take the spotlight, Apple, Google, Tesla and Microsoft, have poured tens of millions into research and development (R&D) each year and as a result, are continuously releasing the most innovative technologies to date.
“Given faster-changing markets-and the fact that even in more traditional sectors technology is becoming a key differentiator-a not-invented-here mindset can be fatal,” BCG partner Andrew Taylor said to Yahoo!Finance.
Two US companies made the Top Ten for the first time: Netflix and Facebook, which jumped up 15 and 19 spots, respectively. In addition, Amazon jumped up four spots marking its move from simple online shopping to the world of instant gratification on PrimeNow, TV series hits on PrimeVideo and most recently its launch of AmazonGo, a new type of grocery store. According to BCG research, “65% of strong innovators mine big data or social networks for ideas.”