Industrial R&D is generally more geared towards applied research and development, which tends to be shorter-term, more incremental, and results in private benefits.
In contrast, public sector R&D is oriented around basic research. Fundamental knowledge that underlies innovation which tends to be higher risk, longer-term, and has much broader and far-reaching societal benefits.
Among individual countries, the United States was thelargest R&D performer in 2017, followed by China, whose R&D spending now exceeds that of the EU (Figure 11). Together, the United States (25%) and China (23%) accounted for nearly half of the estimated global R&D total in 2017. Japan (8%) and Germany (6%) are next, followed by South Korea (4%).