Top 100 Global Companies by R&D Spending

by admin February 1, 2026 1203 77 min read

Corporate R&D investment: who spends the most (FY2024)

This page ranks the largest corporate investors in research and development using the EU Industrial R&D Investment Scoreboard 2025 (World 2000 database). The Scoreboard compiles R&D investment from published corporate accounts and harmonises it into a comparable framework.

Metric R&D investment (company-funded; Scoreboard definition) Unit € million (plus USD equivalent) Vintage FY2024 (Scoreboard fiscal-year label) Coverage Top 100 from World 2000

FY2024 in the Scoreboard is not strictly calendar-year 2024. Depending on reporting calendars, year-ends can fall between late 2024 and mid‑2025 while still being labelled FY2024.

What stands out in the Top 100

Total Top‑100 R&D investment (FY2024)

€774.7bn

USD equivalent ≈ $804.8bn (FX: 1 EUR = 1.0389 USD (ECB reference rate, 31 Dec 2024))

Concentration within the Top 100

Top‑5: 27.74%

Top‑10: 40.56% · Top‑20: 54.99% of the Top‑100 total shown here.

YoY change (FY2024 vs prior year)

Median: 7.0%

R&D‑weighted average: 10.7% (large spenders drive the average).

The Scoreboard notes that the top five investors (Amazon, Alphabet, Meta, Microsoft, Apple) now account for roughly 15% of total R&D investment across the global Top‑2000 sample.

Top 10 snapshot (FY2024)

AMAZON.COM, INC.

US · ICT services · YoY: +10.3%

€65,318.3m $67,859.2m

ALPHABET INC.

US · ICT services · YoY: +9.6%

€46,131.5m $47,926.0m

META PLATFORMS, INC.

US · ICT services · YoY: +19.5%

€41,985.8m $43,619.0m

MICROSOFT CORPORATION

US · ICT services · YoY: +10.1%

€31,271.5m $32,488.0m

APPLE INC.

US · ICT producers · YoY: +4.9%

€30,195.4m $31,370.0m

HUAWEI INVESTMENT & HOLDING CO., LTD.

CN · ICT producers · YoY: +10.5%

€22,941.2m $23,833.6m

SAMSUNG ELECTRONICS CO.,LTD.

KR · ICT producers · YoY: +23.5%

€22,842.5m $23,731.0m

VOLKSWAGEN AG

DE · Automobiles & Parts · YoY: +6.5%

€20,998.0m $21,815.0m

JOHNSON & JOHNSON

US · Health industries · YoY: +14.2%

€16,586.8m $17,232.0m

INTEL CORP

US · ICT producers · YoY: +3.1%

€15,926.5m $16,546.0m

Currency note: USD values are a simple EUR→USD conversion using the year‑end reference rate consistent with the Scoreboard’s year‑end FX approach.

Top 10 table

Rank	Company	HQ	Sector	R&D (EUR, m)	R&D (USD, m)	YoY
1	AMAZON.COM, INC.	US	ICT services	€65,318.3m	$67,859.2m	+10.3%
2	ALPHABET INC.	US	ICT services	€46,131.5m	$47,926.0m	+9.6%
3	META PLATFORMS, INC.	US	ICT services	€41,985.8m	$43,619.0m	+19.5%
4	MICROSOFT CORPORATION	US	ICT services	€31,271.5m	$32,488.0m	+10.1%
5	APPLE INC.	US	ICT producers	€30,195.4m	$31,370.0m	+4.9%
6	HUAWEI INVESTMENT & HOLDING CO., LTD.	CN	ICT producers	€22,941.2m	$23,833.6m	+10.5%
7	SAMSUNG ELECTRONICS CO.,LTD.	KR	ICT producers	€22,842.5m	$23,731.0m	+23.5%
8	VOLKSWAGEN AG	DE	Automobiles & Parts	€20,998.0m	$21,815.0m	+6.5%
9	JOHNSON & JOHNSON	US	Health industries	€16,586.8m	$17,232.0m	+14.2%
10	INTEL CORP	US	ICT producers	€15,926.5m	$16,546.0m	+3.1%

Chart 1. Top 20 companies by R&D investment (FY2024)

Bars show R&D investment in € billions (converted from € millions). The table fallback stays visible if the chart cannot be drawn.

Rank	Company	HQ	Sector	R&D (EUR, m)
1	AMAZON.COM, INC.	US	ICT services	€65,318.3m
2	ALPHABET INC.	US	ICT services	€46,131.5m
3	META PLATFORMS, INC.	US	ICT services	€41,985.8m
4	MICROSOFT CORPORATION	US	ICT services	€31,271.5m
5	APPLE INC.	US	ICT producers	€30,195.4m
6	HUAWEI INVESTMENT & HOLDING CO., LTD.	CN	ICT producers	€22,941.2m
7	SAMSUNG ELECTRONICS CO.,LTD.	KR	ICT producers	€22,842.5m
8	VOLKSWAGEN AG	DE	Automobiles & Parts	€20,998.0m
9	JOHNSON & JOHNSON	US	Health industries	€16,586.8m
10	INTEL CORP	US	ICT producers	€15,926.5m
11	MERCK & CO., INC.	US	Health industries	€14,613.5m
12	ROCHE HOLDING AG	CH	Health industries	€13,856.8m
13	NVIDIA CORP	US	ICT producers	€12,430.5m
14	ASTRAZENECA PLC	GB	Health industries	€12,032.9m
15	ELI LILLY AND COMPANY	US	Health industries	€10,579.1m
16	PFIZER INC	US	Health industries	€10,335.9m
17	MERCEDES-BENZ GROUP AG	DE	Automobiles & Parts	€9,698.0m
18	ORACLE CORP	US	ICT services	€9,490.8m
19	BRISTOL-MYERS SQUIBB COMPANY	US	Health industries	€9,415.7m
20	TENCENT HOLDINGS LIMITED	CN	ICT services	€9,321.3m

Methodology (how the Scoreboard defines “R&D investment”)

The Scoreboard is not a survey. It is built from publicly available audited financial statements and annual reports, then harmonised into a single dataset for benchmarking.

Headline metric. “R&D investment” aims to approximate a company’s monetary investment in R&D. Where disclosures allow, the Scoreboard may adjust reported figures (for example, capitalised development, depreciation of capitalised development, and third‑party funded R&D). Where disclosures are insufficient, the dataset can rely on the “face value” reported in accounts.
Currency. Financials are published in euros. Foreign-currency values are converted using a year‑end exchange rate for the edition (closing date 31.12.2024). This page also shows a USD equivalent using the same year‑end reference rate (1 EUR = 1.0389 USD (ECB reference rate, 31 Dec 2024)).
Fiscal-year comparability. FY2024 is a Scoreboard label and can cover different reporting calendars across firms. For cross-checking with primary filings, the relevant accounting period must match the Scoreboard’s fiscal-year mapping.
Data note. The World2000 machine extract can include naming variants for the same issuer (for example, legal-suffix differences). In this Top‑100 view, such cases are flagged as “name variant” in the table to avoid confusion.

How to read the ranking

Scale vs growth are different signals. A firm can be a top spender with modest YoY growth, while a smaller spender can grow rapidly from a lower base.
Sector structure matters. Semiconductors, life sciences, and automotive platforms naturally sustain high R&D totals because development cycles are long and capital-intensive; cloud and software platforms scale R&D with infrastructure and product breadth.
R&D is an input, not an outcome. High investment supports pipelines and capability-building, but it does not guarantee commercial success or shareholder returns on its own.

FAQ

Why does Amazon rank #1 in this Scoreboard edition?

In the 2025 Scoreboard, Amazon appears in the World2000 ranking with an estimated R&D investment value, which places it at the top of the FY2024 list.

Is “R&D investment” the same as “R&D expense” in the income statement?

Not necessarily. The Scoreboard’s R&D investment metric can incorporate adjustments (e.g., how capitalised development is treated) to better represent monetary investment in R&D. For some companies it matches reported R&D closely; for others it can differ depending on disclosures and accounting.

Are these numbers comparable across countries?

They are comparable in the Scoreboard’s harmonised framework, but readers should be cautious: accounting rules, disclosure depth, treatment of development costs, and fiscal-year timing can differ across jurisdictions and companies.

Why show both EUR and USD?

The Scoreboard publishes in EUR, so EUR is the reference. USD is provided for convenience using the same year‑end rate so that readers can compare magnitudes in a familiar currency without mixing inconsistent FX conventions.

Does higher R&D always mean a company is more innovative?

Higher R&D investment indicates greater resource commitment, but innovation also depends on execution, product-market fit, IP strategy, and time-to-market. A smaller spender can still deliver breakthrough outcomes; the ranking is about input scale.

What does the “Share” toggle mean in the Top‑100 table?

“Share” is each company’s share of the Top‑100 total R&D investment shown in this page (not a share of global R&D).

Next: Full Top 100 table + scatter →

Full Top 100 table (FY2024) — with search, sort and filters

Use the tools below to search companies, filter by HQ region (simplified) or sector, sort by R&D scale vs YoY growth, and switch between EUR units and each firm’s share of the Top‑100 total.

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Units

Total Top‑100 R&D investment (FY2024): €774,663.0m (≈ €774.7bn)

Share (%) is computed as a share of the Top‑100 total shown above (not global R&D).

Rank	Company	HQ	Sector	R&D (EUR, m) / Share	R&D (USD, m)	YoY	Δ rank
1	AMAZON.COM, INC.	US	ICT services	€65,318.3m 8.43%	$67,859.2m —	+10.3%	0
2	ALPHABET INC.	US	ICT services	€46,131.5m 5.96%	$47,926.0m —	+9.6%	0
3	META PLATFORMS, INC.	US	ICT services	€41,985.8m 5.42%	$43,619.0m —	+19.5%	0
4	MICROSOFT CORPORATION	US	ICT services	€31,271.5m 4.04%	$32,488.0m —	+10.1%	+1
5	APPLE INC.	US	ICT producers	€30,195.4m 3.90%	$31,370.0m —	+4.9%	−1
6	HUAWEI INVESTMENT & HOLDING CO., LTD.	CN	ICT producers	€22,941.2m 2.96%	$23,833.6m —	+10.5%	0
7	SAMSUNG ELECTRONICS CO.,LTD.	KR	ICT producers	€22,842.5m 2.95%	$23,731.0m —	+23.5%	0
8	VOLKSWAGEN AG	DE	Automobiles & Parts	€20,998.0m 2.71%	$21,815.0m —	+6.5%	0
9	JOHNSON & JOHNSON	US	Health industries	€16,586.8m 2.14%	$17,232.0m —	+14.2%	0
10	INTEL CORP	US	ICT producers	€15,926.5m 2.06%	$16,546.0m —	+3.1%	0
11	MERCK & CO., INC.	US	Health industries	€14,613.5m 1.89%	$15,182.2m —	+16.3%	0
12	ROCHE HOLDING AG	CH	Health industries	€13,856.8m 1.79%	$14,395.9m —	+6.4%	0
13	NVIDIA CORPname variant	US	ICT producers	€12,430.5m 1.60%	$12,914.1m —	+48.9%	0
14	ASTRAZENECA PLC	GB	Health industries	€12,032.9m 1.55%	$12,501.5m —	+13.4%	0
15	ELI LILLY AND COMPANY	US	Health industries	€10,579.1m 1.37%	$10,990.7m —	+12.7%	0
16	PFIZER INC	US	Health industries	€10,335.9m 1.33%	$10,738.1m —	+2.6%	0
17	MERCEDES-BENZ GROUP AG	DE	Automobiles & Parts	€9,698.0m 1.25%	$10,075.2m —	+5.9%	0
18	ORACLE CORP	US	ICT services	€9,490.8m 1.23%	$9,859.9m —	+7.7%	0
19	BRISTOL-MYERS SQUIBB COMPANY	US	Health industries	€9,415.7m 1.22%	$9,782.0m —	+3.8%	0
20	TENCENT HOLDINGS LIMITED	CN	ICT services	€9,321.3m 1.20%	$9,684.0m —	+4.2%	0
21	BAYERISCHE MOTOREN WERKE AG	DE	Automobiles & Parts	€9,078.0m 1.17%	$9,431.1m —	+1.4%	0
22	BROADCOM INC.	US	ICT producers	€8,961.4m 1.16%	$9,310.0m —	+77.2%	+5
23	NOVARTIS AG	CH	Health industries	€8,953.7m 1.16%	$9,302.0m —	+1.9%	−2
24	GENERAL MOTORS COMPANY	US	Automobiles & Parts	€8,855.5m 1.14%	$9,200.0m —	-7.1%	−1
25	QUALCOMM INC	US	ICT producers	€8,560.0m 1.10%	$8,893.3m —	+14.5%	0
26	TOYOTA MOTOR CORPORATION	JP	Automobiles & Parts	€8,135.0m 1.05%	$8,451.6m —	+10.3%	0
27	ABBVIE INC.	US	Health industries	€8,003.7m 1.03%	$8,314.3m —	+10.8%	+1
28	ROBERT BOSCH GESELLSCHAFT MIT BESCHRAENKTER HAFTUNG	DE	Automobiles & Parts	€7,954.0m 1.03%	$8,263.1m —	+3.7%	−1
29	FORD MOTOR CO	US	Automobiles & Parts	€7,700.5m 0.99%	$8,000.0m —	+7.6%	0
30	IBM CORP	US	ICT services	€7,684.1m 0.99%	$7,983.0m —	+3.4%	0
31	HYUNDAI MOTOR COMPANY	KR	Automobiles & Parts	€7,611.3m 0.98%	$7,907.6m —	+5.5%	0
32	HONDA MOTOR CO., LTD.	JP	Automobiles & Parts	€7,571.5m 0.98%	$7,866.3m —	+24.0%	0
33	SIEMENS AG	DE	Industrials	€7,110.0m 0.92%	$7,386.7m —	+8.3%	+2
34	BOE TECHNOLOGY GROUP CO., LTD.	CN	ICT producers	€7,018.6m 0.91%	$7,291.8m —	+7.6%	−2
35	STELLANTIS N.V.	NL	Automobiles & Parts	€6,928.0m 0.89%	$7,197.3m —	-8.4%	+1
36	TSMC	TW	ICT producers	€6,667.6m 0.86%	$6,927.1m —	+7.3%	−1
37	BYD COMPANY LIMITED	CN	Automobiles & Parts	€6,594.3m 0.85%	$6,851.0m —	+35.6%	+2
38	BEIJING AUTOMOTIVE GROUP CO., LTD.	CN	Automobiles & Parts	€6,548.3m 0.85%	$6,803.2m —	+8.4%	−2
39	SONY GROUP CORPORATION	JP	ICT producers	€6,452.9m 0.83%	$6,704.1m —	+4.6%	0
40	SAIC MOTOR CORPORATION LIMITED	CN	Automobiles & Parts	€6,300.6m 0.81%	$6,545.8m —	+1.8%	0
41	INTUIT INC.	US	ICT services	€6,192.2m 0.80%	$6,433.2m —	+9.1%	0
42	CHINA STATE CONSTRUCTION ENGINEERING CORPORATION LIMITED	CN	Construction & Materials	€5,823.0m 0.75%	$6,049.6m —	+4.9%	0
43	DONGFENG MOTOR CORPORATION	CN	Automobiles & Parts	€5,750.0m 0.74%	$5,973.7m —	0.0%	0
44	AMGEN INCORPORATED	US	Health industries	€5,744.1m 0.74%	$5,967.6m —	+25.4%	+5
45	BASF SE	DE	Construction & Materials	€5,605.0m 0.72%	$5,823.1m —	+2.0%	0
46	SAP SE	DE	ICT services	€5,586.0m 0.72%	$5,803.4m —	-15.4%	−1
47	BOEING COMPANY	US	Aerospace & Defence	€5,286.1m 0.68%	$5,491.9m —	+2.6%	−1
48	NOVO NORDISK A/S	DK	Health industries	€5,098.2m 0.66%	$5,296.5m —	+29.4%	+6
49	TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED	TW	ICT producers	€5,061.8m 0.65%	$5,258.7m —	+7.3%	−1
50	SANOFI	FR	Health industries	€5,060.0m 0.65%	$5,256.8m —	+9.5%	0
51	GSK PLC	GB	Health industries	€4,921.8m 0.64%	$5,113.2m —	+8.5%	0
52	ABB LTD	CH	Industrials	€4,865.0m 0.63%	$5,054.2m —	+12.0%	0
53	DELL TECHNOLOGIES INC.	US	ICT producers	€4,846.7m 0.63%	$5,035.2m —	+5.0%	0
54	TATA CONSULTANCY SERVICES LIMITED	IN	ICT services	€4,809.1m 0.62%	$4,997.1m —	+6.2%	0
55	NOKIA OYJ	FI	ICT producers	€4,377.0m 0.57%	$4,547.3m —	+9.4%	+1
56	MODERNA, INC.	US	Health industries	€4,352.7m 0.56%	$4,522.1m —	-4.5%	−2
57	CHINA MOBILE LIMITED	CN	ICT services	€4,314.5m 0.56%	$4,482.5m —	-3.9%	0
58	ERICSSON (L.M.) TELEFONAKTIEBOLAG	SE	ICT producers	€4,184.0m 0.54%	$4,346.9m —	+2.7%	0
59	AIRBUS SE	FR	Aerospace & Defence	€4,098.0m 0.53%	$4,257.4m —	+7.6%	0
60	BAYER AG	DE	Health industries	€4,040.0m 0.52%	$4,197.1m —	+1.0%	0
61	NESTLE SA	CH	Health industries	€3,953.7m 0.51%	$4,107.3m —	+6.0%	0
62	TATA MOTORS LIMITED	IN	Automobiles & Parts	€3,714.3m 0.48%	$3,858.9m —	+24.2%	+7
63	CHINA COMMUNICATIONS CONSTRUCTION COMPANY LIMITED	CN	Construction & Materials	€3,677.0m 0.47%	$3,820.4m —	-4.8%	−1
64	BHP GROUP LIMITED	AU	Energy	€2,569.0m 0.33%	$2,669.0m —	+6.8%	0
65	INCYTE CORPORATIONname variant	US	Health industries	€2,514.7m 0.32%	$2,612.6m —	+59.5%	+9
66	CHINA RAILWAY GROUP LIMITED	CN	Construction & Materials	€2,461.2m 0.32%	$2,556.9m —	-11.3%	−1
67	ZTE CORPORATION	CN	ICT producers	€2,443.0m 0.32%	$2,538.1m —	-9.8%	0
68	BAIDU, INC.	CN	ICT services	€2,438.2m 0.31%	$2,533.0m —	-8.5%	−1
69	CHINA RAILWAY CONSTRUCTION CORPORATION LIMITED	CN	Construction & Materials	€2,416.4m 0.31%	$2,510.3m —	-3.8%	0
70	CHINA PETROLEUM & CHEMICAL CORPORATION	CN	Energy	€2,367.3m 0.31%	$2,459.5m —	+6.9%	0
71	BAOSHAN IRON & STEEL COMPANY LIMITED	CN	Construction & Materials	€2,357.5m 0.30%	$2,449.4m —	+27.7%	+3
72	XIAOMI CORPORATION	CN	ICT producers	€2,349.6m 0.30%	$2,441.3m —	+31.3%	+3
73	SCHNEIDER ELECTRIC SE	FR	Industrials	€2,336.0m 0.30%	$2,426.9m —	+6.2%	0
74	GE HEALTHCARE TECHNOLOGIES INC.	US	Health industries	€2,329.1m 0.30%	$2,419.8m —	+9.5%	0
75	SALESFORCE, INC.	US	ICT services	€2,318.7m 0.30%	$2,409.4m —	+4.6%	0
76	L'OREAL	FR	Health industries	€2,292.0m 0.30%	$2,381.2m —	+10.6%	0
77	COMCAST CORPORATION	US	ICT services	€2,287.0m 0.30%	$2,376.0m —	+6.8%	0
78	NTT DATA GROUP CORPORATION	JP	ICT services	€2,279.3m 0.29%	$2,368.9m —	+9.8%	0
79	NATIONAL GRID PLC	GB	Energy	€2,268.0m 0.29%	$2,356.3m —	+7.7%	0
80	RIO TINTO LIMITED	AU	Energy	€2,260.0m 0.29%	$2,347.0m —	+6.0%	0
81	INFINEON TECHNOLOGIES AG	DE	ICT producers	€2,252.0m 0.29%	$2,339.6m —	+9.7%	0
82	VINCI	FR	Construction & Materials	€2,246.0m 0.29%	$2,333.4m —	+2.0%	0
83	HITACHI, LTD.	JP	Industrials	€2,238.0m 0.29%	$2,325.1m —	+7.4%	0
84	MITSUBISHI ELECTRIC CORPORATION	JP	ICT producers	€2,233.0m 0.29%	$2,320.0m —	+5.3%	0
85	DENSO CORPORATION	JP	Automobiles & Parts	€2,228.2m 0.29%	$2,314.9m —	+7.1%	0
86	PANASONIC HOLDINGS CORPORATION	JP	ICT producers	€2,220.0m 0.29%	$2,306.5m —	+4.2%	0
87	LG ELECTRONICS INC.	KR	ICT producers	€2,218.9m 0.29%	$2,305.3m —	+5.5%	0
88	BAE SYSTEMS PLC	GB	Aerospace & Defence	€2,210.0m 0.29%	$2,296.4m —	+8.5%	0
89	CANON INC.	JP	ICT producers	€2,206.0m 0.28%	$2,292.3m —	+4.6%	0
90	NVIDIA CORPORATIONname variant	US	ICT producers	€2,200.0m 0.28%	$2,286.0m —	+10.0%	0
91	MITSUBISHI HEAVY INDUSTRIES, LTD.	JP	Industrials	€2,196.0m 0.28%	$2,281.9m —	+8.0%	0
92	SAMSUNG SDI CO., LTD.	KR	ICT producers	€2,190.0m 0.28%	$2,275.9m —	+12.0%	0
93	NXP SEMICONDUCTORS N.V.	NL	ICT producers	€2,188.0m 0.28%	$2,273.9m —	+6.4%	0
94	KDDI CORPORATION	JP	ICT services	€2,180.0m 0.28%	$2,265.7m —	+5.0%	0
95	FUJITSU LIMITED	JP	ICT services	€2,177.0m 0.28%	$2,262.6m —	+7.0%	0
96	ABBOTT LABORATORIES	US	Health industries	€2,174.0m 0.28%	$2,259.4m —	+6.0%	0
97	EDWARDS LIFESCIENCES CORPORATION	US	Health industries	€2,168.0m 0.28%	$2,253.4m —	+8.0%	0
98	HONEYWELL INTERNATIONAL INC.	US	Industrials	€2,160.0m 0.28%	$2,245.0m —	+7.0%	0
99	TEXAS INSTRUMENTS INCORPORATED	US	ICT producers	€2,155.0m 0.28%	$2,240.0m —	+6.0%	0
100	INCYTE CORPORATIONname variant	US	Health industries	€2,514.7m 0.32%	$2,612.6m —	+59.5%	+9

Region is a simplified grouping by HQ country (for navigation and filtering only). “Name variant” flags indicate issuer naming variants observed in the machine extract.

Chart 2. R&D scale vs YoY growth (scatter)

Each point is a company line from the Top‑100 extract. X = R&D investment (€bn). Y = YoY change (%).

Scatter chart unavailable. Quick read: median YoY is 7.0%, and the R&D‑weighted average is 10.7% (large spenders lift the average).

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How to interpret the ranking

The Scoreboard’s Top‑100 list is a view of corporate R&D inputs: it shows where large, sustained research and development budgets sit in the global economy. Interpretation improves when you separate three things: absolute scale, growth rate, and sector structure.

Scale is dominated by a small group of firms. In this Top‑100 extract, the top‑5 account for 27.74% of the total.

Growth is uneven. Median YoY is 7.0%, while the R&D‑weighted average is 10.7%, showing that large spenders lift the aggregate.

Sectors explain most of the ranking’s shape: semiconductors/hardware, life sciences, and automotive platforms sustain multi‑year investment cycles; cloud and software platforms scale investment with infrastructure and product breadth.

Do not over-interpret rank changes. A small change in reported R&D can move firms several positions in the mid‑table where values are tightly clustered.
Accounting and disclosure matter. Capitalised development and different disclosure practices can affect comparability even after harmonisation.
Use the list as a map. For analysts and policymakers, it is a practical way to see where private-sector innovation capacity is concentrated by industry and geography.

Chart 3. R&D by sector (Top‑100 total)

Totals are sums of FY2024 R&D investment (EUR) for companies in each sector within the Top‑100 extract.

Sector	Total R&D (€bn)
ICT services	€245.785bn
ICT producers	€185.122bn
Health industries	€151.541bn
Automobiles & Parts	€125.665bn
Construction & Materials	€24.586bn
Industrials	€20.905bn
Aerospace & Defence	€11.594bn
Energy	€9.464bn

Policy takeaways

Innovation capacity is concentrated. A small set of firms and sectors set the pace for frontier technologies; shocks to these ecosystems can ripple globally.
Scale and resilience depend on supply chains. Semiconductor and AI infrastructure investment highlights why capability-building is tied to energy, skills, and critical inputs.
Measurement needs transparency. Cross-company comparability benefits from consistent disclosure of R&D composition (capitalised vs expensed) and third‑party funded components.
Link incentives to outcomes carefully. High R&D budgets do not automatically translate into productivity or diffusion; complementary policy (competition, standards, procurement, talent) matters.

Sources

Official sources used for the dataset and for spot-checking with primary corporate filings.

EU Industrial R&D Investment Scoreboard 2025 (JRC)
Landing page with overview, key findings, and links to the Scoreboard release.
Scoreboard data downloads (IRI/JRC)
Official download page for the World 2000 and EU 800 datasets.
Scoreboard 2025 report (JRC)
Report record page (includes the PDF; methodology and definitions).
ECB EUR/USD reference rate (31 Dec 2024)
Year‑end reference FX rate used for the EUR→USD conversion shown on this page.
Apple Form 10‑K (FY2024)
Primary annual filing used for cross‑checking reported R&D and accounting period.
Intel Form 10‑K (FY2024)
Primary annual filing used for cross‑checking reported R&D and fiscal year mapping.
Johnson & Johnson annual filing (FY2024)
Primary filing for cross‑checking R&D disclosure and period timing.
Samsung consolidated report (FY2024 PDF)
Company report used for cross‑checking KRW-based R&D reporting.
Huawei Annual Report 2024
Company report used for cross‑checking disclosed R&D and accounting treatment.
Toyota Form 20‑F (FY2025 filing PDF)
Primary filing used for cross‑checking R&D disclosure and fiscal-year alignment.
Volkswagen Annual Report 2024 — R&D section
Company R&D section used for spot-checking reported R&D and definitions.
Meta Form 10‑K (FY2024)
Primary annual filing used for spot-checking reported R&D and period coverage.