Research and development has been around since the cavemen developed tools, but where is R&D headed going forward? Sneha Kulkarni writes about 5 trends that predicted to be in store for the future of science and R&D (2015).
- Global spending on R&D will continue to grow. Over the last decade, R&D spending has gone from billions to trillions across the world
- Developing countries will also increase R&D spending. The recession had a larger impact on the US and the EU than it did on China, India, and other developing nations. This is enabling them to spend more on R&D and benefiting their economies.
- China’s R&D spending will exceed the US by the early 2020’s indicating that they will emerge as a scientific force. Their knowledge-and technology-intensive (KTI) industries are also on the rise.
- Academia, and not just industry will fund R&D. Currently industry funds 66% of R&D costs in the US.
- The number of researchers in the world is going to continue to grow at 4-5% per year. The amount of researchers in OECD countries (Organization for Economic Co-operation and Development) doubled from 4 (2007) to 7 million (2011) researchers.
What do you think is in store for the future of R&D??
Kulkarni, S. (2015). The Future Of Science: 5 Predicted Global Trends In R&D Expenditure And Research Output. Editage Insights. Retrieved 15 June 2017, from http://www.editage.com/insights/the-future-of-science-5-predicted-global-trends-in-rd-expenditure-and-research-output