The United States leads global business expenditure on R&D with a significant share. Emerging economies like China are rising rapidly, yet traditional powerhouses such as Japan and Germany remain key players. In 2023, the most notable growth rates were seen in Lithuania, Estonia, and Cyprus, indicating dynamic shifts in smaller markets. Conversely, Montenegro saw a slight decline. The past five years portray a diverse CAGR landscape, with regions experiencing robust innovation momentum.
Future trends to watch include the impact of technological advancements and digital transformation on R&D expenditure. Asia's growth trajectory, especially India's potential rise, and Europe's response to sustainable innovation demands will also be pivotal.
Top countries in Business Expenditure on R&D in All Businesses Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 44.15 | 2023 | +7.64% | +10.25% | View data |
| 2 | 2 China (except Hong Kong) | 20.59 | 2023 | |||
| 3 | 3 Japan | 8.65 | 2023 | +1.34% | +2% | View data |
| 4 | 4 Germany | 5.67 | 2023 | +2.27% | +1.82% | View data |
| 5 | 5 South Korea | 4.66 | 2023 | +4.11% | +4.11% | View data |
| 6 | 6 France | 2.71 | 2023 | +2.05% | +2.1% | View data |
| 7 | 7 United Kingdom | 2.32 | 2023 | +1.95% | +2.67% | View data |
| 8 | 8 Italy | 1.18 | 2023 | +2.31% | +0.57% | View data |
| 9 | 9 Switzerland | 1.17 | 2023 | +2.91% | +4.08% | View data |
| 10 | 10 Belgium | 1.07 | 2023 | +7.5% | +9.61% | View data |
