• 06-NOV-2013

The Most Innovative TMT Companies Expect 90% Growth Rate Over the Next Five Years

Seizing the innovation edge
PwC Study Demonstrates How Technology, Media and Telecom Companies Can Harness Breakthrough Innovation to Grow Revenue

New York, 6 Nov 2013‑‑PwC's recent global innovation study, Seizing the innovation edge, found that the most innovative 20% of Technology, Media and Telecom (TMT) companies surveyed expect a growth rate of nearly 90% over the next five years, more than twice the TMT average (37.5%) and over four times higher than the least innovative TMT companies (22.2%).  The same top 20% innovative TMT companies collectively benefited from an additional $45 billion in revenue over the last three years, compared with the least innovative companies. This is the equivalent of more than $1 billion per company, or a 14% revenue uplift.

Data from the report indicates the top 20% of performers account for the revenue increase by establishing and executing a coherent innovation strategy and planning for a greater proportion of breakthrough and radical innovations. The report, the first of three papers exploring innovation within TMT, highlights how innovation is accelerating growth for leading TMT companies.