In 2018, the top 1000 companies spent a total of $858 billion on R&D efforts. This amount accounts for approximately 40% of the R&D spending in the world. Thus, the total R&D spending around the world was in the region of $2 trillion in 2018. These figures highlight the importance that businesses place on R&D spending in order to maintain a competitive edge. The majority of R&D spending is focused on developing new products and technologies, which can help to improve productivity and efficiency. In addition, R&D can also help to reduce costs and improve customer satisfaction. As such, it is clear that R&D plays a vital role in the success of businesses worldwide.