Global R&D Spending Hits $2.87 Trillion in 2024

Global research and development (R&D) expenditure reached an estimated $2.87 trillion in 2024, according to the World Intellectual Property Organisation. The figure marks nearly a 3 per cent increase over the previous year and almost a threefold rise since 2000. The data, drawn from the Global Innovation Index Database, reflects the growing centrality of innovation-led growth across advanced and emerging economies.

Asia Expands Its Global Share

Asia accounted for around 45 per cent of global R&D spending in 2024, continuing a long-term upward trend. China, Japan and the Republic of Korea ranked among the world’s top 10 R&D investors. Several emerging economies, including India, Turkey, Egypt, Thailand, Poland and Saudi Arabia, also strengthened their presence in global research investment.

In contrast, traditional industrial economies such as Germany, France, Italy, Canada, Russia, Brazil and the United Kingdom saw declines in their share of global R&D spending. The shift indicates a gradual rebalancing of innovation capacity towards Asia.

China and the US Lead Global Rankings

China emerged as the world’s largest R&D spender in 2024, allocating $785.9 billion. This represents an almost 20-fold increase since 2000. China’s share of global R&D rose by more than 23 percentage points over the period, making it the biggest gainer.

The United States ranked second, investing $781.8 billion in 2024—roughly double its spending compared to two decades ago. However, its global share declined by 9.7 percentage points. Japan, placed third, recorded a similar fall of 7.2 percentage points in its global share despite remaining a leading innovation economy.

India’s Position in Global R&D

India ranked seventh worldwide, with R&D expenditure of $75.73 billion in 2024. Although this is about one-tenth of China’s spending, it marks a more than threefold increase from $20.8 billion over the past two decades. The rise underscores India’s expanding research ecosystem across sectors such as pharmaceuticals, space technology and information technology.

Important Facts for Exams

• Global R&D spending reached $2.87 trillion in 2024.
• Asia accounts for approximately 45 per cent of global R&D expenditure.
• China and the United States are the top two R&D investors globally.
• R&D intensity is often measured as a percentage of GDP.

Innovation as a Growth Driver

The steady expansion in global R&D reflects the increasing importance of knowledge economies. Nations are investing heavily in science, technology and innovation to boost competitiveness, productivity and strategic autonomy. The redistribution of research spending signals a changing global innovation landscape, with Asia playing a dominant and expanding role.