In 2023, the total internal R&D personnel in the UK's manufacture of electrical equipment sector stood at approximately 5.13 thousand full-time equivalents. Forecasted data indicates a steady year-on-year growth, with 2024 starting at 5.28 thousand and reaching 5.85 thousand by 2028. This reflects an overall compound annual growth rate (CAGR) of approximately 3% over the five-year period. This growth suggests a consistent investment in research and development within this sector, potentially driven by innovations in technology and increasing demand for electrical equipment.
Future trends to watch include:
- Technological advancements driving further R&D personnel growth.
- Impact of governmental policies on R&D investments.
- Growth in digitalization and the need for electrical equipment adaptation.
- Potential disruptions in the market or supply chain affecting growth rates.
