EU companies increase research investment amidst a global technological race
Companies in the European Union have increased their investment in research and development (R&D) for the eighth consecutive years.
In 2017, they invested 5.5% more in R&D activities than the year before. This growth is driven by the automobile, health and ICT sectors.
In a telling sign of an ever more dynamic global technological race, the top 2500 industrial players worldwide increased their R&D investment by 8.3% last year.
These are some of the main findings of the 2018 Industrial R&D Investment Scoreboard, published by the European Commission on 17 December 2018.
R&D investments fundamental for innovation capacity of companies
Research and innovation are the key drivers of productivity and hence prosperity growth. In an accelerating global innovation race, in which digital technologies and the physical word are merging, business R&D investments play a fundamental role: they determine the innovation capacity of companies, their competiveness, and contribute to creating a sustainable, inclusive and prosperous Europe.
The EU Industrial R&D Investment Scoreboard is published annually since 2004 by the European Commission (Directorate-General for Research and Innovation and the Joint Research Centre).
You can read full report here: http://iri.jrc.ec.europa.eu/scoreboard18.html