In 2023, the Higher Education Expenditure on R&D (HERD) in the UK stood at a significant benchmark from which we observe a steady year-on-year increase in the subsequent years. The forecasted values for 2024 to 2028 exhibit a consistent upward trend. In 2024, the expenditure is projected to be 181.81 million USD PPP, increasing to 193.47 million USD PPP by 2028. This consistent growth suggests a compounded annual growth rate (CAGR) that implies a robust and sustained investment in R&D within the higher education sector.
Year-on-year, the variations from 2024 to 2028 illustrate an incremental percentage increase, highlighting confidence and commitment to research and development. The anticipated average annual growth rate over this five-year period will further assist in underpinning future innovation and research capabilities within the UK.
Future trends to watch for include the impact of potential policy changes in funding, technological advancements, and international collaborations. Monitoring these aspects will be crucial to understand their influence on the sustained growth in R&D expenditure in higher education.
