Analysis of software R&D growth in the automotive industry

Circular Economy

The global automotive industry is spending more on research and development (R&D) than ever before, as vehicle manufacturers (OEMs) and tier-1 suppliers are trying to stay ahead of a rapidly shifting market and fierce competition from the technology industry.

R&D spending by the automotive industry is growing again after a steep decline in 2020. April data from the IHS Markit global automotive R&D survey show automotive companies are increasing their R&D spending by 6.5% compared with 2020.

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