Spending on research and development (R&D) is crucial for companies across sector to keep pace with technology and customer preferences in a fast-changing world.
Companies spend billions on new technology and innovations to remain relevant. An analysis of the trends in R&D expenditure would reflect the speed of change as well as the
industries that are focussed on future-proofing themselves.
According to a report by Zinnov, a consulting firm, the
automotive industry spent the most on R&D ($130 billion), followed by the pharmaceutical and software industry.
Here are the top 5 Global R&D spend by Industries-
