In 2024, the US government-financed business enterprise expenditure on R&D is projected at $32.89 billion, rising from $31.9 billion in 2023. The consecutive year-on-year increases forecasted from 2024 to 2028 indicate a steady upward trend, with the growth rates between 2.15% and 2.89%. The compound annual growth rate (CAGR) for the period 2024-2028 is approximately 2.01%, showcasing a moderate but consistent growth trajectory.
Future trends to watch for include:
- Technological advancements, such as AI and quantum computing, may drive increased R&D funding.
- Government policy changes could impact the prioritization of R&D projects.
- Global economic conditions may influence funding availability and allocation.
