As of 2023, the UK higher education sector's expenditure on R&D was significantly below the forecasted rise to 19.62 billion US dollars PPP in 2024. The forecast data indicates a steady growth from 2024, with values reaching 20.7 billion by 2028. This suggests an upward trajectory with an average year-on-year increase of approximately 1.34%. The compound annual growth rate (CAGR) over the five-year period is expected to reinforce this sustainable growth trend.
Future trends to watch for include:
- Potential impacts of government policy changes on R&D funding.
- Technological advancements driving R&D investment strategies.
- The role of international collaboration and its influence on R&D expenditure.
