The forecasted intramural expenditure on R&D in the UK shows a steady increase from 2024 to 2028, with values rising from 113.49 billion USD PPP in 2024 to 134.07 billion USD PPP in 2028. In 2023, the actual expenditure stood slightly lower, indicating a positive growth trajectory. The year-on-year growth rate highlights a consistent pace with an average increase around 4-5% annually. The compound annual growth rate (CAGR) from 2024 to 2028 is expected to remain robust, reinforcing the trend of rising investment in R&D over this period.
- Increased government and private sector investments in innovation and technology may drive future expenditure.
- Potential economic changes and global market dynamics could impact R&D funding and priorities.
- Emergence and growth of key sectors such as AI, green tech, and biotech might influence R&D allocations.
