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PwC’s Strategy& today unveiled the 14th edition Global Innovation 1000 Study report. The report found that annual worldwide corporate R&D spending increased by 11.4% in 2018, totaling US$782 billion in annual investment, based on an annual analysis of the 1000 largest global public companies by R&D spend. Chinese companies’ R&D spending increased by 34.4% to reach US$60.08 billion, marking the largest growth globally. Amazon maintained the top spot as the largest corporate spender on R&D (US$22.6 billion) for the second year in a row. Alibaba remained the top R&D spender in China for the third consecutive year.
Asia Pacific manufacturing companies are championing the digitization and end-to-end integration of their operations, introducing digital products and services and connecting new technologies across their organizations at a much faster rate than their peers in the Americas and EMEA. This gap will continue to widen, as 32% of Asian companies plan to have established mature digital ecosystems in the next five years, compared to 24% in the Americas and 15% in EMEA.
Annual worldwide R&D spending breaks through US $700bn for the top 1000 corporate R&D spenders for first time / China’s corporate R&D spending is US $45.2bn in 2017, saw a 3.3% decline in corporate R&D spending for the first time / 25% of executives surveyed reported having already experienced some pressure to change how or where they conduct innovation / Amazon is the world’s largest corporate spender on R&D at over $16bn / Alphabet surpasses Apple, according to a global survey of R&D executives, as the Most Innovative Company and for the first time a Chinese company, Alibaba joins the Top 10 Most Innovative Companies list
PwC is pleased to announce today the successful completion of its combination with Booz & Company. With the granting of all regulatory approvals for Booz & Company to join PwC, it is now officially part of the PwC Network. All closing conditions for the deal have been met.