The forecast for the UK’s total gross domestic expenditure on research and development (R&D) shows a steady increase from 2024 to 2028. In 2023, the actual expenditure stood at 36,500 thousand persons. Year-on-year growth is consistent, illustrating the UK’s commitment to enhancing its R&D capabilities. The compound annual growth rate (CAGR) over the five-year period is approximately 1.56%.
Future trends to watch for include:
- Increased investment in emerging technologies.
- Focus on sustainability and green technologies.
- Potential impact of economic conditions on R&D funding.
