Europe's industry significantly increased its investment in research and development in 2022, according to the 2023 edition of the EU Industrial Research & Development (R&D) Investment Scoreboard.

EU private R&D investment growth has reached the highest rate since 2015 and more than doubled compared to 2021, with 13.6% increase in 2022. In comparison, China has decreased its growth from over 25% to just over 16% and US companies slowed down from 16% to 12.6%.

The world's top 2500 R&D investors monitored by the Scoreboard set a new record for total R&D investment, reaching almost €1250 billion, €141 billion more than in 2021. Overall, US companies are responsible for over 42% of the R&D investment of the largest 2500 corporate R&D investors, while the EU and China closely compete for second place (17.5% and 17.8%, respectively).