EU Industrial R&D Investment Scoreboard

Europe's industry has increased its investment in research and development (R&D) by 9.8% in 2023, surpassing the growth of corporate R&D investment in the US (+5.9%) and China (+9.6%) for the first time since 2013, according to the new edition of the EU Industrial R&D Investment Scoreboard published today.
In 2023, the EU was second globally in R&D private investment (18.7%), trailing the US (42.3%), but ahead of China (17.1%), Japan (8.3%) and countries in the rest of the world (13.6%). Despite slowing global R&D growth (+7.8% vs. +12.6% in 2022), the top 2000 companies invested a record €1257.7 billion on R&D in 2023. The top 50, among them 11 EU companies, contributed 40.1% of investments, revealing a strong concentration of R&D in the biggest players.

Research and innovation (R&I) will be at the centre of the EU's economy in the coming years, aimed at boosting innovation and scientific excellence in the race to a clean and digital economy, and contributing to the EU's sustainable competitiveness and prosperity. This year's Scoreboard reaffirms that, while European companies are relevant global players, the industrial structure explains the innovation gaps with main competitors. Moreover, the EU must further boost private R&I investments, develop key sectors, such as Information & Communication Technologies (ICT) and health, address disparities among Member States, and promote technology deployment and the creation and growth of EU-based players.