In 2023, Italy led European business expenditure on R&D in electrical equipment and electronics manufacturing with 549.78 million Euros, showing a year-on-year growth of 5.73%. Finland, with minimal growth at 0.13%, and Poland, with a notable 5.0% increase, show resilience in R&D investments. Belgium and Sweden experienced downturns, with decreases of 2.71% and 14.54%, respectively. Portugal had the most significant growth by 13.47%, indicating robust development in its sector. Comparatively, Malta and Serbia had negligible investments, highlighting disparities across Europe. The five-year CAGR suggests Italy and Poland exhibit a stable upward trend while some countries face challenges.
Future Trends to Watch:
- Italy and Poland may continue to enhance their R&D investments due to stable growth patterns.
- Portugal’s recent surge could indicate emerging competencies, prompting increased industry interest.
- Sustained underinvestment in markets like Serbia and Malta may lead to strategic shifts or international partnerships to bolster innovation.
- Technological advancements and the green transition could drive further investments and reshape the competitive landscape.
Top countries in Business Expenditure on R&D in Electrical Equipment and Electronics Manufacturing by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 549.78 | 2023 | +2.83% | +5.73% | View data |
| 2 | 2 Spain | 283.11 | 2021 | View data | ||
| 3 | 3 Finland | 234.51 | 2023 | -0.86% | +0.13% | View data |
| 4 | 4 Belgium | 167.31 | 2023 | +3.91% | -2.71% | View data |
| 5 | 5 Poland | 147.68 | 2023 | +14.33% | +5% | View data |
| 6 | 6 Czech Republic | 111.87 | 2023 | +3.76% | +3.27% | View data |
| 7 | 7 Sweden | 81.39 | 2023 | +0.37% | -14.54% | View data |
| 8 | 8 Portugal | 72.2 | 2023 | +10.41% | +13.47% | View data |
| 9 | 9 Hungary | 51.17 | 2021 | View data | ||
| 10 | 10 Slovakia | 30.35 | 2023 | +6.71% | -5.07% | View data |
