Gadgets in decline as R&D shifts to software and services -study

By Eric Auchard FRANKFURT (Reuters) – Research and development spending by the world’s biggest companies is accelerating into software and services while investment in physical products is falling sharply, an annual study by consulting firm PwC has found. The study is both a reflection of current spending priorities by the top 1,000 companies in North America, Europe, Japan, China and the rest of the world, but also a benchmark against which many firms will judge their future growth plans. The 2016 Global Innovation 1000 Study released on Monday by PwC’s “Strategy&” unit found that by 2018, the healthcare industry will overtake computer and electronic hardware as the top R&D sector, spending $165 billion versus $159 billion.

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