Where Data Tells the Story
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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%.