Asia reclaims its standing as the epicenter for global innovation after briefly falling behind the United States in 2016, according to the 2017 Top 100 Global Innovators report issued by Clarivate Analytics. The annual report highlights the most successful organizations in the world that are active in innovation through research and development, protection of their IP and the achievement of commercial success. It also reinforces a prevailing trend among innovative businesses of prioritizing investment in unique, enduring inventions – for which patents are successfully brought to market and enjoy greater global commercial potential.
Forty-five Asian companies appear on this year’s list, a 15% increase over 2016, with long-recognized organizations like Honda, Komatsu, Samsung and Toyota joined by newcomers Fuji Electric, Hon Hai and Nichia. North America runs second with 36 companies appearing on the list, where newcomers like Facebook, Molex and Western Digital join Apple, Abbott Laboratories, Boeing, Microsoft and others.
Asian organizations outperformed the rest of the Top 100 in all metrics during 2017, indicating that the region is producing higher quality innovation, seeking to commercialize its innovation globally and creating more impactful innovation than both the remaining Top 100 Global Innovators and organizations outside the Top 100.
The organizations in the 2017 Top 100 represent three continents and 11 different markets, with major innovation hubs Japan and the USA accounting for 75% of the list. Eighty-five of the 2017 Top 100 Global Innovators also appeared on the 2016 list, and six are new to the report.
Data further indicates that while patent filings by the Top 100 Global Innovators have increased at a slower pace than those outside the list, the Top 100 are more successful in bringing their innovations to market – the ultimate measure of success. Overall, the volume of global patent filings has increased by 11.9% during the last five years, compared to a 2.4% increase for the Top 100. However, the number of patents granted to the Top 100 in 2017 grew by 5.7% year-over-year, compared to a 3.4% increase for companies outside the Top 100.
The chemicals and cosmetics industry experienced a jump from nine companies in the 2016 Top 100 to 12 this year, with long-time members like 3M, Arkema, Dow, DuPont, Nitto Denko and Shin-Etsu joined by newcomers Asahi Glass, Mitsui Chem, Nichia and Toray.
See the entire report here.