From 2013 to 2023, business expenditure on R&D in consumer electronics manufacturing in Spain saw a considerable decline from 0.13 units to 0.06 units. The year-on-year variation reveals significant fluctuations, with notable decreases in most years. The period between 2013 to 2023 experienced a compound annual growth rate (CAGR) varying significantly, highlighting a general downward trend.
Key insights include:
- 2013-2015: R&D spending declined sharply, with -31.58%, -7.69%, and -25% year-on-year declines.
- 2016-2018: A slight recovery and stabilization, with expenditure peaking in 2016 at 0.11 units and maintaining at 0.12 units in 2017-2018.
- 2019-2023: A continued decline, with a significant drop in 2023 at -14.29%, hovering at 0.06 units.
Future trends indicate a consistent decrease in R&D expenditure, forecasted to decline to 0.05 units by 2028. The forecasted 5-year CAGR of -3.58% and a total decline of -16.67% suggest a need to monitor changes in market dynamics, potential shifts in technology investment, and innovation strategies by companies to align with global technological advancements.
