In 2023, the United States led the R&D expenditure in the manufacture of electronic components and boards globally, with a notable 9.14% increase, followed by Taiwan at 15.42% growth. South Korea and Japan showed steady increases of 7.44% and 9.24%, respectively. These countries, along with Germany's modest growth, collectively dominated the market. In contrast, several European countries such as the United Kingdom and Canada experienced declines, while Spain, Norway, and emerging markets like Romania and Lithuania saw substantial growth. This suggests a shift with Asian economies and smaller European entities strengthening their R&D foothold.
For the future, expect continued dominance by Asian economies, particularly Taiwan and South Korea, fueled by strong tech sector investments. Watch for potential increases in Eastern European countries as they increase their innovation investments. Meanwhile, countries with declining trends need strategic interventions to boost their competitiveness.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Electronic Components and Boards Share by Country (Million US Dollars PPP = 2015)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 41.56 | 2023 | +1.85% | +9.14% | View data |
| 2 | 2 Taiwan | 30.63 | 2023 | +14.48% | +15.42% | View data |
| 3 | 3 South Korea | 13.08 | 2023 | +5.55% | +7.44% | View data |
| 4 | 4 Japan | 11.73 | 2023 | +9.3% | +9.24% | View data |
| 5 | 5 Germany | 2.01 | 2023 | +1.21% | +1.28% | View data |
| 6 | 6 Italy | 0.75 | 2023 | +0.66% | +1.58% | View data |
| 7 | 7 Israel | 0.21 | 2023 | +4.7% | -0.1% | View data |
| 8 | 8 Canada | 0.17 | 2023 | -3.85% | -1.05% | View data |
| 9 | 9 United Kingdom | 0.076 | 2023 | -10.39% | -11.12% | View data |
| 10 | 10 Spain | 0.073 | 2023 | +4.06% | +5.92% | View data |
