The business expenditure on R&D in the construction sector in Finland has shown significant volatility over the past decade, peaking at 56.4 million euros in 2013 and hitting a low of 14 million euros in 2019. More recently, the year-on-year variation has demonstrated continued decline, with 2022 and 2023 showing negative growth rates of 34.3% and 7.97% respectively.
In 2023, the expenditure stood at 16.75 million euros, and forecasts indicate a continued downward trend. The projected average annual decline (CAGR) over the next five years is 5.09%, with the total value expected to decrease by approximately 23% by 2028.
Future trends to watch for include:
- Implementation of new technologies and digitalization within the construction sector could potentially offset the declining trend in R&D expenditure.
- Government policies and incentives for sustainable construction practices may also influence future R&D investments.
- Market changes due to economic conditions and shifts in global supply chains might impact long-term investments in this area.
Overall, despite the downward trend, targeted innovation initiatives and policy interventions could play key roles in stabilizing and potentially reversing the decline in R&D expenditure in construction.
