In 2023, US higher education applied research expenditures were recorded at 23.9 billion USD PPP. Forecasts from 2024 to 2028 exhibit a consistent upward trend. Specifically, the year-on-year variations show increases of approximately 2.38% from 2024 to 2025, 2.24% from 2025 to 2026, 2.19% from 2026 to 2027, and 2.07% from 2027 to 2028. Over the five-year period, the expenditures are expected to grow at a compound annual growth rate (CAGR) of about 2.22% per year.
Future trends to watch for include potential fluctuations in federal and state funding for research, technological advancements that could influence research focus areas, and evolving partnerships between universities and private sector entities, which could further impact applied research expenditures.
