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China seen as next innovation hub: KPMG

Posted: 03 Jul 2012     Print Version  Bookmark and Share

Keywords:disruptive technology  innovation  China  U.S  India 

The U.S and China are two destinations most likely to come up with disruptive technology breakthroughs with global impact in the next two to four years, according the 'Global Technology Innovation' survey by KPMG.

In the survey, KPMG asked about 668 business executives to predict disruptive technology breakthroughs and the scope of change in the next 2-4 years.

About 30 per cent said China and the U.S show promise for disruptive breakthroughs with global impacts, while only 13 per cent cited India.

Interestingly, only 39 per cent of U.S respondents selected the U.S as most promising, while 71 per cent in China selected China.

Moreover, 44 per cent of global respondents said it was likely that the technology innovation centre of the world would shift from Silicon Valley to another country in the next four years.

China was named as the country most likely to be the next innovation centre (45 per cent), followed by India (21 per cent) and Japan tied with Korea on 9 per cent each.

"The pace of technology innovations today is happening at unparalleled speed and China's projected rapid rise to prominence as a technology leader would be another example of this," said Gary Matuszak, partner, global chair and US leader, KPMG's Technology, Media and Telecommunications practice.

"China's anticipated parity with the US tech sector shows the significant challenge facing the US to retain its position as an innovation leader. Other countries will continue taking steps to boost technology innovation and to attract tech entrepreneurs."

Almost 30 per cent of global respondents expect that the next tech breakthrough to drive the greatest business transformation in the next four years will come from smartphones, tablets and other mobile technologies.

The survey listed Apple as the top innovator in the world followed by Google and Microsoft.

In India, Infosys was identified as the innovation leader, and in Israel, it was IBM. At the same time, about one-third pointed to Google, Facebook and Amazon as emerging leaders in mobile commerce.

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