The global leader in technology innovation -- the US -- could soon face a threat in this space from the world's fast emerging markets -- India and China.

"The US is leading the world in technology innovations because of market size and talent. But India and China are starting to match US's consumer and tech talent base," global technology research firm Forrester's Vice President Navi Radjou told PTI.

This will lead to more tech innovations emanating from these two countries in the coming decades, he added.

Both the Asian giants altogether boast nearly half billion strong middle class, he said.

"India alone is adding five million new cellphone subscribers each month and both the countries are together creating number of engineers and professionals, which is increasing their talent reservoir," Radjou said.

Some Indian IT firms already have same level of technology enabled innovation to answer the global competition, he said.

Radjou, who is coming to India next week to speak at Nasscom's India Leadership Forum 2007 summit in Mumbai, said that companies like Infosys has already made investments in knowledge management systems to promote knowledge reusability across its practise areas and client accounts on a worldwide basis.

Wipro has also invested heavily in security technologies to protect intellectual property as part of its Research and Development service capabilities, he added.