In its annual ranking of the “50 World’s Most Innovative Companies,” Boston Consulting Group placed Toyota 5th overall and the highest automotive brand.

This year, for the first time, more auto manufacturers than technology companies are in the top 20.

The report cites the automotive surge is based on manufacturers:

  • trying to meet increased fuel-efficiency standards
  • striving to make vehicles safer
  • and improving in-car entertainment and communication systems

To read more details about the World’s Most Innovative Companies, check out CGMA’s full story.