The higher education expenditure on R&D in the US is projected to increase steadily from $93.4 billion in 2024 to $105.45 billion in 2028. In 2023, the actual expenditure stood at $90 billion, marking a consistent upward trend over the forecasted period. Year-on-year variations depict an average growth of approximately 3.2% from 2024 to 2028. The compound annual growth rate (CAGR) over these five years is estimated to be 3.1%, indicating stable and progressive investment in research and development within higher education institutions.

Future trends to watch for include:

Increased focus on STEM-related research boosting R&D spending.
Potential policy shifts affecting federal funding and grants.
Rising collaborations between universities and private sectors to drive innovation.
Technology advancements requiring higher investment in cutting-edge research fields.