In 2023, the UK's Gross Domestic Expenditure on R&D stood at 1.78% of GDP. The forecast data from 2024 to 2028 shows a steady increase year-on-year, reaching 1.83% by 2028. This reflects a compound annual growth rate (CAGR) of approximately 0.55% over the five-year period, demonstrating a consistent upward trend.

Future trends to watch for include:

The impact of government policies aimed at boosting innovation and R&D investments.
Economic conditions that could influence business investment in R&D.
Technological advancements driving shifts in R&D expenditure patterns.