Global Technology Industry Innovation Survey 2020

The 2020 Global Technology Industry Innovation Survey has been conducted by KPMG Organization. The company has conducted this innovation survey by including responses from more than 800 global leaders in the technology industry. This is the 8th year of the survey.

Key Findings-

• The 2020 Global Technology Industry Innovation Survey by KPMG reveals which cities will be the leading innovation hubs over the next four years other than Silicon Valley/San Francisco.
• According to the survey, Singapore has achieved the top spot in this year’s global rankings. Singapore has improved from its previous year ranking in which it was ranked as 7th in the list.
• Singapore offers advanced IT Infrastructure, IP protection laws, strong government support and pool of talent.
• London, U.K has been placed second in the global list.
• Tel Aviv has been ranked third on the list. It was ranked 15th in the previous year ranking.
• There are some cities in this year’s list which were outside the top 20 in the last year list but have found a place in the top 20 this year. Such cities are- Chicago, Frankfurt, Mumbai, Shenzhen, Montreal and Dallas.
• There are also cites which were in top 20 last year but have lost their ranking this year. Such cities are- Washington DC, Paris, Amsterdam, Barcelona and Los Angeles.
• As per the survey, the Global technology executives are confident that Silicon Valley will retain its position as technology innovation centre of the world this year also.
• Only 37 per cent of the executives said that the centre will move from Silicon Valley.
• Some of the reasons cited by the executives that why Silicon Valley can move as World innovation centre are that other cities’ infrastructure is catching up with Silicon Valley, shrinking talent pipeline, negative population migration, etc.
• As per the survey, the top country that promises to develop the most impactful disruptive technologies is the U.S like previous rankings and China has been ranked second. India is also at 2nd rank.
• But this year, the US has increased its lead over China (28% vs. 13%). Last year it was 23% vs. 17% per cent.

Leading Technology innovation hubs outside Silicon Valley/San Francisco over the next four years

Rank	Technology innovation hub
1	Singapore
2	London, UK
3	Tel Aviv
4	Tokyo, Japan
5	New York, U.S
6	Shanghai, China
7	Beijing, China
8	Seoul, S. Korea
9	Bengaluru, India
10	Hong Kong SAR, China

Countries that promise to develop the most impactful disruptive technologies

Country	Rank
US	1
China	2
India	2

India Specific Findings-

• India has been ranked at 2nd place (tie with China) in the countries which promise to develop most impactful disruptive technologies.
• Bengaluru, India has been placed 9th in the list of leading technology innovation hubs outside Silicon Valley/San Francisco over the next four years.
• Bengaluru was placed 18th in the last year ranking.
• Mumbai has also found a place in top 20 innovation hubs. It has been placed 16th.
• The increase in the ranking of Bengaluru and Mumbai is due to the continuous rise of India in Global innovation index.

Questions

Q1. What is the rank of India in KPMG’s 2020 Global Technology Industry Innovation Survey?

1. 1st
2. 2nd
3. 3rd
4. 4th
5. 5th

Answer- 2

Explanation- India has been placed 2nd (tie with China) in the KPMG’s 2020 Global Technology Industry Innovation Survey in the list of countries which promise to develop most impactful disruptive technologies.

Q2. Which Indian city has been included in the top 10 leading innovation hubs outside Silicon Valley/San Francisco over the next four years in the KPMG’s 2020 Global Technology Industry Innovation Survey?

1. Bengaluru
2. Mumbai
3. Jaipur
4. Chennai
5. Pune

Answer- 1

Explanation- Bengaluru, India has been placed 9th in the list of leading technology innovation hubs outside Silicon Valley/San Francisco over the next four years. Bengaluru was placed 18th in the last year ranking.