Automakers are Among the World's Most Innovative Companies
According to Boston Consulting Group (BCG), innovation has always been important in the automotive sector, but that focus on new technologies and product features is growing. Their report documents how automakers have increasingly vied with technology companies for top ranking in BCG’s annual survey of the most innovative companies: fourteen automakers are among the top 50 in BCG’s most recent survey, compared with ten carmakers in 2012 and only five in 2005, three companies rank in the top ten along with consumer electronics and Internet giants, and nine automakers are in the top 20.
in the top 50
in the top 20
in the top 10
For the first time since BCG began conducting this survey, there are more auto manufacturers than consumer companies in the top 50 and more carmakers than technology companies in the top 20.
More automotive and technology companies perceive innovation and R&D investment to be important to the success of their businesses than do companies in other industries. Almost 85 percent of respondents in both sectors rate innovation as a top priority.