Asian Spending Driving Global R&D Investments
Global research and development (R&D) spending is forecast to grow by 3.5% in 2016 to a total of $1,948 trillion in purchasing parity values for the more than 110 countries having significant R&D investments of over more than $100 million. Those are the key findings presented in the 2016 Global R&D Funding Forecast, the annual study conducted and published by R&D Magazine, a publication of Advantage Business Media.
As in previous years, the growth in global R&D investments is being driven by spending in Asian countries, and in particular, China, Japan, India, and South Korea, which now account for more than 40% of all global investments.
Forecasting globally, the 2016 Global R&D Funding Forecast indicates an increase of 3.4% in U.S. R&D to $514 billion. The Asian R&D shift continues with nearly a 42% share in 2016. India and China both show an increase of R&D funding with 7.6% and 6.2%, which includes a growth to $71 billion and $396 billion, respectively. Industrial R&D continues to drive overall R&D investment.
R&D Magazine releases its Global R&D Funding Forecast each year, and executive insights of this much-quoted report were presented at the first annual R&D 100 Awards & Technology Conference held in November 2015 in conjunction with the annual R&D 100 Awards event. The report summarizes data collected from proprietary surveys of R&D Magazine’s readers and members of the global R&D community and analyses of technology and economic reports. It also provides personal information on what researchers need to do their jobs and what their plans are for the future.
The 2016 Global R&D Funding Forecast was published in partnership with the Industrial Research Institute in Washington, DC. Created every year since R&D Magazine’s founding in January 1959, this annual report provides reliable data on more than 100 countries, along with summaries on industrial sector trends, academic research, and specific “hot” technology regions such as China, Japan, and Europe. It also provides detailed spending plans for 2016 by U.S. government agencies.
The study reports in-depth on key topics that reflect the annual growth and changes in research and development worldwide. Among the data collected are the sources of R&D funding including grants, licensing, crowd sourcing, and internal company resources. It also contains data on the distribution of R&D investments and information on the key factors that are important for R&D including sustainability, improving efficiencies, building an innovative culture, and attracting and retaining R&D staff, among other factors.
To access the full report, visit www.RDmag.com.
About R&D Magazine:
Since its founding in 1959 as Industrial Research, R&D Magazine (www.rdmag.com) has served research scientists, engineers, and technical staff at laboratories around the world, providing timely, informative news and useful technical articles that broaden readers’ knowledge of the research and development industry and improves the quality of their work. R&D Magazine is a publication of the Advantage Business Media Science Group, with sister brands including Laboratory Equipment, Bioscience Technology, Forensic Magazine, Drug Discovery & Development, Laboratory Design, Scientific Computing, Animal Laboratory News, and Controlled Environments.
Contact: Bea Riemschneider, Editorial Director