Here are the industries that are spending the most on R&D

Spending on research and development (R&D) is crucial for companies across sector to keep pace with technology and customer preferences in a fast-changing world.

Companies spend billions on new technology and innovations to remain relevant. An analysis of the trends in R&D expenditure would reflect the speed of change as well as the industries that are focussed on future-proofing themselves.

According to a report by Zinnov, a consulting firm, the automotive industry spent the most on R&D ($130 billion), followed by the pharmaceutical and software industry.

Here are the top 5 Global R&D spend by Industries-

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Here are the industries that are spending the most on R&D