In 2017, U.S. businesses invested $55 billion in R&D directed at new business areas and new product lines, or 11.6% of their worldwide R&D expenses. NCSES first collected this data in 2008 when businesses reported $40 billion in such investments, accounting for 12.2% of businesses' total worldwide R&D expense. In the years following the 2008 onset of the Great Recession, businesses reported about $25 billion in R&D investments directed at new business areas and new product lines, less than 8% of their total worldwide R&D expenses.
Suggested Citation: Anderson G., National Center for Science and Engineering Statistics (NCSES). 2020. U.S. Businesses Invest $55 Billion in R&D Directed at New Business Areas and New Product Lines. NSF 20-315. Alexandria, VA: National Science Foundation. Available at https://www.nsf.gov/statistics/2020/nsf20315/.