I was reading a great article about the R&D landscape and the report that was put together by Strategy& an arm of Price Waterhouse Cooper. Technology is constantly evolving, as well as the cost of R&D that goes into making these leaps in advancements possible. $700 billion annually is spent towards corporate R&D and that number will only continue to rise as companies continue to realize how undeniably important innovation has become. Even Amazon knows that it will be worth the $16 billion investment in R&D spending every year to stay on top.
This article gives a detailed look at annual corporate R&D spending and how the increase has led businesses like Amazon, Microsoft, IBM and GE to rank as the most innovative companies of the year.
If you want to understand why R&D spending has hit record highs, check out the article here.