Boston Consulting Group released its 10th annual listing of the world’s 50 Most Innovative Companies on Wednesday.
The list is based on a survey of 1,500 C-suite executives.
The list included several tech companies, including Apple, Google and Samsung, which all ranked in the top 10.
Surprisingly, three-quarters of the companies in the top 50 were non-tech in the 10th annual survey. Also surprising was that the majority of companies on the list come from the U.S. The highest ranking Chinese company was Tencent at 12, followed by Huawei (45) and Lenovo (50).
Study co-author Andrew Taylor said that’s an increase from a decade ago, when there were no Chinese companies on the list. “The rate of innovation of Chinese companies is increasing, and the perception of their innovation is increasing,” he said, “but with a lag.”
The survey also noted the changing role of technology across industries.
“Technology used to live in its own silo—the IT department,” the report said. “Today, digital, mobile, big data and other technologies are used to support and enable innovation across the organization, from new product development to manufacturing to go-to-market strategies, in multiple industries.”