Europe and Asia challenge US dominance in R&D

By staff writer

- Last updated on GMT

Related tags Compound annual growth rate European union

Europe and Asia are challenging US dominance in global spending on
research and development (R&D), finds new report.

The world's top 100 spenders together invested over €208 billion in 2004, showing compound annual growth rate of 5.4 per cent on the year before.

According to the report by Cientifica​, the fastest year-on-year growth rates are to be found in the Asia/Pacific region, with a 2002-2004 CAGR of 38 per cent.

They were followed by France with 18 per cent annual growth: the US trails in with a CAGR of just 7 per cent, reports CORDIS.

In terms of geographic split, the US, Japan and Germany came in as the leaders with the most number of companies in the top 100 spenders. The three countries respectively accounted for 41, 24 and 11 of the total number in 2004.

Taken together, the EU 225 account for 28 per cent of the companies in the top 100.

Totals for each country are not the total corporate R&D spend for each respective country, but rather the total spend of those corporations which make the global top 100 list based on annual R&D spend.

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