The World's Top Companies Fueling R&D Growth 🚀

Key Takeaways

• Nvidia's research and development (R&D) spending grew by 18.2% in 2023—significantly lower than the 35% rise seen in 2022.
• Across the pharmaceutical sector, Eli Lilly saw the fastest R&D growth, at 29.5%.
• Meanwhile, in the auto industry, Germany’s ZF Friedrichshafen outpaced Tesla in R&D expansion, growing 33.1% compared to Tesla’s 29.1%.

Corporate R&D Spending Hits $1.2 Trillion

In 2023, global corporate R&D spending rose by 8.3% to reach $1.2 trillion.

While R&D investment in information and communications technology (ICT) hardware plunged by 50%, it tripled in the pharmaceutical sector.

Pharmaceuticals also lead in R&D intensity, with spending equal to 19% of total revenue—the highest among all industries.

Following next in line is software and ICT services, with an R&D intensity of 14%.