Similar to last year, the increase in R&D expenditures between 20 is primarily driven by four industries, ICT hardware and electrical equipment pharmaceuticals and biotechnology software and ICT services and construction and industrial metals.įigure 1: R&D expenditure and revenue totals of top global corporate R&D spenders, by industry and year 2018-2021 Figure 1 presents annual R&D expenditures, revenues and R&D intensities for the seven industries with the greatest cumulative R&D investment in 2021. However, these figures mask large differences at the industry level.
As a result, governments will continue to rely on innovation by technology firms, for future economic growth, and venture firms will continue to invest in technology firms with high growth potential, contributing capital to those jurisdictions that best support such innovation.īased on the data from the award-winning Orbis database, the authors of the GII determine that the world’s most innovative companies increased investments in R&D by 10% to over USD 900 billion invested in 2021, higher than pre-pandemic levels.įor these firms, revenues decreased by 0.5% in 2020, and then rebounded by 17.7% in 2021. They are now – and will continue to be – essential to the global economy.
Technology firms are at the core of GDP contributions for most developed and developing nations. GII 2022 shows that research and development (R&D) and other investments, which drive innovation, continued to surge in 2021 despite the COVID-19 pandemic. In Latin America and the Caribbean, innovation over performers include Brazil (54), Peru (65) and Jamaica (76) Eight so-called “innovation over performers” are from Sub-Saharan Africa, with Kenya (88), Rwanda 105) and Mozambique (123) in the lead. These include newcomers Indonesia (75), Uzbekistan (82) and Pakistan (87). Several developing economies are performing above expectation on innovation relative to their level of economic development. Japan, China, the Republic of Korea and Hong Kong (China) represent the top Asian economies that are innovation intensive, all ranking within the top 15 GII rankingsĬhina (rank 11) is making its way up to the top ten, with consistently strong performance from India (rank 40) and Türkiye (rank 37), which entered the top 40 for the first time
Switzerland topped the rankings for the 12th consecutive year, followed by the United States of America, Sweden, the United Kingdom and the Netherlands Here are the results of the Global Innovation Index: GII 2022 maps the world’s most innovative economies, and reveals a number of interesting moves with new power houses emerging. Such insights and trends are relevant for businesses, government, investors, and academics globally. The recently launched innovation tracker focuses specifically on science and technology investments, technological progress and socioeconomic impact. The report provides investment insights based on innovation trends using historical R&D spend data and associated analysis. These are derived from local financial accounts and statements, and then fine-tuned using Global Standard Format for firm-level financial statements. Some of the key Orbis variables used in the analysis for GII rankings include R&D expenditure data collated through the R&D Scoreboard project for the European Commission JRC. Our award-winning Orbis entity data was used in the computation of some of the 80+ indicators WIPO used in ranking the economies based on the innovation measure. The economic slowdown that resulted from the COVID-19 pandemic created a greater need to measure innovation, and to identify how economies are performing through the post-pandemic recovery phase. This not only helps identify and benchmark innovation performance, but also the associated economic impact of innovation. The World Intellectual Property Organization (WIPO) has released its 15th edition of the Global Innovation Index, which tracks over 130 economies across the globe to identify investment into R&D and the impact of innovation through detailed and robust metrices.
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