In 2023, the business enterprise R&D expenditure in the manufacture of electronic components and boards in the US stood at 63.5 billion USD PPP. The forecasted growth for 2024 is marked by a 8.6% increase to 68.99 billion USD PPP, maintaining a robust upward trend through to 2028. The average compounded annual growth rate (CAGR) from 2024 to 2028 is projected at approximately 6.48%. This indicates a steady expansion driven by technological advancements and increased demand for innovative electronic solutions.

Future trends to watch for:

Focus on advanced semiconductor technologies as demand for efficient, high-performance components escalates.
Continued investments towards sustainable and green technology initiatives.
Potential impact of geopolitical factors on supply chains influencing R&D spending.