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China is the leading country worldwide in terms of spending on research and development (R&D), with R&D expenditure exceeding billion purchasing power parity (PPP) U.S. dollars. The United States are invested about billion U.S. dollars into R&D.

Health and technology

Overall, health and technology dominate R&D spending globally. In 2024, health constituted nearly ***percent of all R&D spending, while hardware producers accounted for over ***percent and software producers accounted for almost ***percent. Tech companies such as Meta, Amazon, and Alphabet contribute massively to tech spending, while spending continues to grow in areas such as medical technology and pharmaceuticals.

Other sources of R&D spending

Other sources of R&D spending include the automotive industry, chemicals, and manufacturing. Notably, within the automotive industry, the EU leads in spending, contributing over ***billion euros to the *** billion euros spent on automotive R&D globally. By company, Volkswagen spent the most at billion U.S. dollars.