IoT ONE Index: Top 100 IIoT companies - geographical distribution
For this week’s IoT ONE Index, we will be focusing on the geographical distribution of the top 100 IIoT companies index published recently.
- The top 5 countries with the most companies represented on the index are the United States (51), Germany (10), Japan (7), the United Kingdom (7) and Switzerland (3).
- 63% of all the vendor HQs featured on the IoT ONE platform are based in these 5 countries.
- Of these 5 countries, the US accounts for a lion's share with a whooping 49%.
- It is evident that a handful of countries hold a majority of these companies. One reason why some countries make better IIoT innovation hub could be down to their National Absorptive Capacity (NAC).
- According to an Accenture report published in 2015, NAC is defined as “a country’s ability to weave innovations into their economic and social fabric.” The report mentions that there are four factors that determine a country’s NAC towards IIoT:
- Business commons such as economic openness and access to capital
- Take-off factors such as government support and spending on R&D
- Transfer factors such as consumer willingness to adopt new technologies
- The Innovation Dynamo which comprises factors like entrepreneurial culture
It is hence no surprise that the aforementioned top 5 countries also have some of the highest NAC scores. Read more here.
We prioritize quantitative data in the rankings