The value added of scientific research and development in Norway is projected to increase steadily from 2024 through 2028, beginning at 26.74 billion Norwegian Krones in 2024 and rising to 33.79 billion Norwegian Krones by 2028. Based on actual values, the value stood at 24.98 billion NOK in 2023. The year-on-year growth rates are as follows: 6.88% (2024), 6.88% (2025), 6.26% (2026), 5.72% (2027), and 5.23% (2028). The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately 5.98%.
Future trends to monitor include:
- Government funding and policy changes in scientific research.
- Private sector investment in R&D and innovation initiatives.
- Technological advancements and their impact on productivity and efficiency in R&D.
- Global economic conditions which may influence budget allocations to research and development sectors.