The R&D budget for Industry and Knowledge in the US is projected to grow steadily over the forecast period. The budget is estimated to increase from $42.08 billion in 2024 to $46.45 billion by 2028, reflecting a compound annual growth rate (CAGR) of approximately 2.5%. This steady growth highlights the ongoing importance placed on research and development within the US, building upon the actual base of 2023.

Future trends to watch for include:

Increased investment in emerging technologies such as AI, biotechnology, and renewable energy.
Shifts in funding priorities driven by government policies and global economic conditions.
The impact of international collaborations and competition on domestic R&D strategies.