Facing increasing competition and saturating global markets, more companies beyond technology are pursuing innovation and science as growth drivers, according to new data.
Roughly two-thirds of the top 50 innovative businesses are nontechnology companies, according to an annual ranking of innovative companies by The Boston Consulting Group released Wednesday. A natural growth path for multinationals is conquering new customers and geographic markets. "Once you've done all that, there's only one way to grow," said Michael Ringel, a senior partner and managing director at BCG. "Companies in any industry can draw on improved technology and science to drive innovation."
While up to 21 of the top 50 companies have squarely been in technology or telecom during the past five years, innovative health-care companies are breaking into the top 50 and top 10. Eight of the top 50 innovative companies in 2015 are in health care, according to the report.
Spanning multiple sectors, the top 10 most innovative companies for 2015 are:
Broken down globally, the top 50 includes 29 companies from the U.S., 11 from Europe and 10 from Asia. The full list can be found here.