PwC’s 2018 Global Innovation Study analyzed the top 1,000 companies spending the most on research and development (R&D). The professional services organization broke out the rankings by industry for the top 50, showing the leaders in each category both in overall terms ($billion) and R&D intensity (% of total revenue).
According to the report, Apple spent 5.1% of its revenue for research and development in 2018 — or $11.6 billion. That compares to 4.7% last year.
Apple and Stanley Black & Decker were the only two companies that qualified as “high-leverage innovators” in all three periods. PwC says those are companies that “get more bang for their R&D buck than their peers.”
R&D spending among the Global Innovation 1000 overall increased 11.4% in 2018, to a record high of $782 billion, reflecting R&D spending increases in all regions and nearly all industries.