In 2023, the U.S. led globally in R&D expenditure in electronic components, valued at $45.62B, outpacing Taiwan's $33.62B. South Korea and Japan followed, with moderate increases, while Europe, led by Germany, struggled to gain substantial footing. Noticeable percentage increases were seen in the U.S. (9.14%), Taiwan (15.42%), Japan (9.24%), and specifically Romania (20.54%). Meanwhile, the UK faced a significant decline of 11.12%, part of a 5-year downward trend.
Future trends to watch:
- Continued U.S. and Taiwan dominance, driven by technological advancements and government incentives.
- Potential recovery and growth in Europe with strategic investments in innovation hubs.
- Rising competition from emerging markets seeking to bolster their electronic component industries.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Electronic Components and Boards by Country
| # | 10 Countries | Million US Dollars PPP = 2015 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 45,620 | 2023 | +1.85% | +9.14% | View data |
| 2 | 2 Taiwan | 33,620 | 2023 | +14.48% | +15.42% | View data |
| 3 | 3 South Korea | 14,360 | 2023 | +5.55% | +7.44% | View data |
| 4 | 4 Japan | 12,880 | 2023 | +9.3% | +9.24% | View data |
| 5 | 5 Germany | 2,210 | 2023 | +1.21% | +1.28% | View data |
| 6 | 6 Italy | 819.66 | 2023 | +0.66% | +1.58% | View data |
| 7 | 7 Israel | 234.72 | 2023 | +4.7% | -0.1% | View data |
| 8 | 8 Canada | 184.74 | 2023 | -3.85% | -1.05% | View data |
| 9 | 9 United Kingdom | 83.04 | 2023 | -10.39% | -11.12% | View data |
| 10 | 10 Spain | 79.93 | 2023 | +4.06% | +5.92% | View data |
