The scientific research and development sector in Norway demonstrated a total production value of 28.63 billion Norwegian Krones in 2023. In the forecasted years, the sector shows robust growth, with production values expected to reach 31.62 billion in 2024, 34.93 billion in 2025, 38.21 billion in 2026, 41.45 billion in 2027, and 44.66 billion in 2028.
The year-on-year variation highlights a consistent upward trend. From 2024 to 2025, the sector is expected to grow by approximately 10.47%, followed by 9.40% from 2025 to 2026, 8.48% from 2026 to 2027, and 7.74% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is estimated to be around 9.46%, signifying steady growth.
Key future trends to watch for include advancements in biotechnology, increased funding for climate change research, and a greater emphasis on AI and machine learning. These areas are expected to drive further innovation and expansion within the sector, potentially increasing its share in the global market.
