Auto industry led 2013 global R&D expenditure

Written by R Ravichandran | Chennai | Updated: Jan 30 2014, 10:27am hrs
The automotive industry has been the top spender in the world on research and development (R&D) during 2013, according to Zinnov, a global advisory firm. The auto industry spent $110 billion on R&D globally last year, the highest among the top 500 R&D spenders in the world.

Further, the industry was also among the top three spenders in each region, across North America, Europe, APAC and Japan, with total spend in the sector rising by 5% over the last year.

Within the automotive sector, Japan contributed 40%, followed by 37% from Europe, 13% from North America and 12% from the Asia-Pacific region.