China, U.S. lead innovation, Europe nowhere, says survey

China, U.S. lead innovation, Europe nowhere, says survey

LONDON – China and the United States are the two countries most likely to come up with "disruptive technology breakthroughs" with a global impact in the next two to four years, according to a survey conducted by auditor and consultancy KPMG (Amstelveen, The Netherland).

Nearly one third of respondents (30 percent) said China will be the future "global hotspot for innovation," followed by the United States with 29 percent, India (13 percent), Japan (8 percent) and Korea (5 percent). The United Kingdom ranks 11th and was named by just 1 percent of respondents.

"More and more technology executives believe that when it comes to tech innovation the center of gravity is moving east. Until now China has been better known for its disruptive cost model rather than its disruptive technologies but things are beginning to change," said Tudor Aw, technology sector head for KPMG Europe LLP, in a statement.

The survey also showed that 43 percent of respondents said it is likely that the technology innovation center of the world will move 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 percent), followed by India (21 percent) and Japan tied with Korea on 9 percent each.

The survey was conducted with 668 technology business executives between March 2012 and May 2012 with 34 percent of the respondents based in the Americas, 42 percent in Asia Pacific, and 23 percent in Europe, Middle East and Africa.

The survey revealed that the technology sector set to have the biggest business impact in four year's time is likely to be mobile devices named by 28 percent of respondents. Some 17 percent referenced cloud computing and storage and 13 percent advanced IT and 3-D technology.

The barriers to commercializing these technologies are thought to be security and privacy governance (30 percent), followed by funding and access to capital (24 percent) and technology complexity (24 percent).

Another snippet from the survey was that the respondents considered the top approach to motivating innovation amongst employees was to provide financial incentives (39 percent).


Related links and articles:

www.kpmg.com

News articles:

Marvell aims to be China chip leader

Report: Qualcomm wafer fab not ruled out

Rebuilding America: Silicon Valley is back

Join the Conversation: Is Silicon Valley losing its mojo?

TAG:United States United Kingdom survey KPMG technology innovation