The forecast for R&D total current costs in the US shows a steady increase from $729.76 billion (PPP) in 2024 to $801.61 billion in 2028. By referencing past data, US R&D expenditure stood at approximately $714 billion in 2023. The year-on-year growth rate demonstrates incremental rises, averaging about 2-3% annually. Over a five-year span from 2024 to 2028, the compound annual growth rate (CAGR) is projected to be just above 2.4%.
Future trends to monitor include:
- Potential technological advancements driving up R&D investments.
- Government policy changes affecting funding levels and corporate R&D spending.
- Emerging fields such as AI, biotechnology, and renewable energy becoming focal points for increased research expenditure.
- The global competitive landscape prompting US-based companies to enhance R&D efforts.
