Insight
China is close behind but other countries and U.S. cities far from Silicon Valley are rising fast.
By Mike Alva
More than a third of technology industry leaders globally say the U.S. remains the world's leading technology and innovation hub, according to KPMG's 2018 global technology innovation survey.
In fact, the 34 percent who said the U.S. showed the most promise for disruptive technology breakthroughs is up from 26 percent in last year's survey.
China remained in second place, with 26 percent of more than 750 technology leaders worldwide ranking it No. 1.
While the findings show the two tech powers continue to dominate, the survey's findings also indicate that the global decentralization of tech innovation is pervasive and extends beyond the U.S. and China. Compared to last year, tech industry leaders selected amore geographically diverse Top 10when asked which cities, in addition to Silicon Valley/San Francisco, will be the leading technology innovation hubs over the next four years.
“Innovation has become decentralized globally with some cities making great progress while others still face macroeconomic and infrastructure challenges,” saidKPMG Global and U.S. Technology Sector Leader Tim Zanni. “Many factors affect a city’s perception as an innovation hub, including accelerators, tech parks, corporate investment, state-of-the-art infrastructure and, in all cases, at least a few highly successful and wildly popular success stories.”
KPMG’s 2018 technology innovation report provides insight on several trends and findings about leading countries, hubs, visionaries and tech innovation management.
To speak with KPMG’s Tim Zanni (@TimZanni) about the report, tech innovation or other trends in the technology industry, please contactMike Alva.
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About Tim Zanni
As KPMG's Global and US Technology Leader, he plays a key client relationship role for the firm’s largest global technology clients.
As an expert in technology and innovation trends, I've closely followed the evolution of tech hubs globally and the factors influencing their rise. The KPMG 2018 global technology innovation survey you mentioned reflects a pivotal moment in the decentralization of tech innovation, showcasing how the landscape has evolved beyond the traditional dominance of Silicon Valley and China.
Firstly, the survey highlights the shifting perception among tech leaders regarding the leading hubs for disruptive technology breakthroughs. The US maintained its position as the top hub, with 34% of leaders acknowledging its prowess, marking a significant increase from the previous year's 26%. This growth signifies sustained confidence in the US as a breeding ground for groundbreaking tech advancements.
China's presence as the second-ranking hub, with 26% of global tech leaders endorsing it, underscores its rapid ascent and formidable competition against the US in the innovation realm. This rivalry between the US and China continues to define global tech advancements.
However, what's particularly intriguing is the emergence of other cities worldwide in this race. The survey illustrates a diversification in the top-ranking innovation hubs, beyond the conventional Silicon Valley/San Francisco axis. Tech leaders are recognizing a more geographically diverse Top 10, indicating a broader distribution of innovation centers across the globe. This trend emphasizes the decentralization of tech innovation, attributing importance not just to established tech giants but also to up-and-coming cities with flourishing ecosystems.
Factors influencing a city's perception as an innovation hub, as highlighted by KPMG's Tim Zanni, include various elements like accelerators, tech parks, corporate investments, state-of-the-art infrastructure, and success stories. These elements collectively contribute to shaping the narrative of an innovation-friendly environment.
The KPMG 2018 technology innovation report provides comprehensive insights into these trends and findings, shedding light on the evolution of leading countries, emerging hubs, visionary leaders, and strategies for managing tech innovation effectively.
As for Tim Zanni, KPMG's Global and US Technology Leader, his role is pivotal in nurturing client relationships with the firm's largest global technology clients. His insights and expertise play a critical role in understanding and navigating the dynamic landscape of technology and innovation.
If you're interested in delving deeper into the report's findings, discussing tech innovation trends, or exploring the changing landscape of disruptive technologies, connecting with Tim Zanni or accessing the KPMG report could offer valuable insights into this transformative phase in the tech industry.
