Between 2024 and 2028, the forecast indicates a steady year-on-year increase in the UK's business enterprise expenditure on R&D as a percentage of the value added in the industry. This progressive growth suggests a growing emphasis on innovation and technological advancement within the sector. With the expenditure increasing from 3.68% in 2024 to 3.95% by 2028, the CAGR for this period reflects a positive trend, underscoring a robust commitment to R&D in UK industries.

Future trends to watch for:

Shifts in government policies or incentives affecting R&D investments.
Impact of global economic conditions and Brexit-related changes on UK business R&D spending.
Emergence of new technologies and sectors that may drive further increases in R&D expenditure.