In 2023, European business expenditure on R&D in IT hardware wholesale showed significant variation by country. Spain led the pack with 162.09 million euros, demonstrating a significant commitment to innovation in this sector. Belgium and Italy followed with 10.89 and 4.25 million euros, respectively. Among the countries, Belgium showed the highest year-on-year growth with a 24.47% increase, while Italy reported a 21.77% rise. Finland showed a slight decrease of 0.76%, and Serbia had a marginal decline of 0.19%. Over the past five years, Belgium and Italy have likely experienced robust growth, with their allocation towards R&D doubling or more.
Future trends to watch include:
- Increased investment from Spain could further consolidate its leading position.
- Belgium and Italy may continue to experience substantial growth, due to their focus on innovation and technology adoption.
- Finland and Serbia might need strategic shifts to reverse declining or stagnant R&D investments.
- Overall, European countries could see increased competition and collaboration in technological advancements, driven by regional and global market demands.
Top countries in Business Expenditure on R&D in IT Hardware Wholesale by Country
| # | 5 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 162.09 | 2021 | View data | ||
| 2 | 2 Belgium | 10.89 | 2023 | +18.8% | +24.47% | View data |
| 3 | 3 Italy | 4.25 | 2023 | +21.38% | +21.77% | View data |
| 4 | 4 Finland | 1.54 | 2023 | +20.22% | -0.76% | View data |
| 5 | 5 Serbia | 0.26 | 2023 | +56.21% | -0.19% | View data |
