In 2023, the UK's Gross Domestic Expenditure on R&D stood at approximately $89.38 billion. From the forecasted data, there is an upward trend with yearly increases as follows: 2024 sees a 2.8% rise to $91.84 billion, 2025 a 2.9% increase to $94.55 billion, 2026 a further 2.8% to $97.23 billion, 2027 climbs 2.7% to $99.88 billion, and 2028 by 2.6% to $102.5 billion. Analyzing the compound annual growth rate (CAGR) over these five years, we observe an approximate average annual growth of 2.8%.

Future trends to watch:

Potential impacts of economic changes and policy shifts on R&D funding.
Tech industry influences, especially AI and green technologies, driving increased investments.
International collaborations potentially altering expenditure dynamics due to post-Brexit adjustments.