In 2023, R&D total current costs in the UK were below the 2024 forecast of 56.13 billion USD PPP. The data suggests a steady year-on-year growth: 2025 and 2026 forecast at increases of around 2.32% and 2.22%, respectively. Forecasts project a consistent annual rise through 2028, indicating an average compound annual growth rate (CAGR) of approximately 2.15% from 2024 to 2028.
Future trends to watch for include potential impacts from policy changes on R&D funding, technological advancements modifying investment needs, and global economic conditions influencing overall spending trends in the UK. Market disruptions could also affect these projections.
