The forecast for business enterprise expenditure on R&D in the UK from 2024 to 2028 shows a gradual increase from 2.07% to 2.14% of Value Added in Industry. This indicates a steady commitment to research and development with a Compound Annual Growth Rate (CAGR) reflecting small, consistent year-on-year rises. In 2023, the actual figure was slightly lower, marking an upward trend into the forecast years.
Future trends to watch for include:
- Potential shifts in government policy affecting R&D incentives.
- Emerging technology sectors that could influence increased R&D investments.
- A global economic environment that could impact funding and priorities for R&D.
