In 2023, the business enterprise expenditure on R&D in high and medium-high R&D intensive industries was below the projected 2024 value of $313.16 trillion US dollars PPP. Forecasted data from 2024 to 2028 shows a steady upward trend, with expenditures expected to reach $350.40 trillion US dollars PPP by 2028. Year-on-year, expenditures increase approximately 3% annually. However, over a five-year period, the Compound Annual Growth Rate (CAGR) averages around 2.8%.
Future trends to watch include increased digitalization and technological advancements, particularly in sectors like biotechnology and information technology, which may drive higher R&D investments. Global economic conditions and policy changes may also impact expenditure growth rates.
