The business expenditure on R&D in electronic components manufacturing in Finland has shown an overall growth trend, increasing from 0.028 units of GDP in 2013 to 0.06 units in 2023. This represents a significant cumulative growth over the decade, despite some fluctuations. Year-on-year variations have ranged widely, with notable declines in some years (-13.46% in 2019) and significant growth in others (24.44% in 2020). The 5-year compound annual growth rate (CAGR) leading up to 2023 stands at 2.9%, indicating a steady rise in R&D investment.
Looking towards the future, the forecast for the years 2024-2028 shows a continued upward trend, with the CAGR expected to be 2.99%. By 2028, the R&D expenditure is projected to reach 0.073 units of GDP, representing a growth of approximately 15.87% from 2023.
Key future trends to watch for include:
- Continued technological advancements and automation in manufacturing processes.
- Increased focus on sustainable and eco-friendly electronic components.
- Enhanced cooperation between academic institutions and industry for R&D initiatives.
- The impact of global supply chain dynamics and geopolitical factors on R&D expenditure.
