GITNUX MARKETDATA REPORT 2024

Innovation Statistics: Market Report & Data

Statistic 1

"84% of executives agree that innovation is important for their company's growth strategy."

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Statistic 2

"65% of large companies will increase their investment in innovation in the next three years."

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Statistic 3

"In 2020, global investment in innovation reached $3.4 trillion."

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Statistic 4

"41% of companies reported that cost is a major barrier to innovation."

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Statistic 5

"60% of businesses view innovation as a key driver for profitable growth."

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Statistic 6

"80% of innovation projects never reach the market."

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Statistic 7

"Innovation increases firm productivity by an average of around 3%."

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Statistic 8

"Only 30% of companies successfully execute their ideas to produce consistent innovative results."

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Statistic 9

"72% of companies name the speed of technology change as their primary challenge to innovation."

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Statistic 10

"94% of managers are dissatisfied with their company's innovation performance."

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Statistic 11

"Business spending on research and development has grown 5.8% annually over the past five years."

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Statistic 12

"21% of companies view their innovation performance as world-class."

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Statistic 13

"87% of companies believe diversity is an innovation enabler."

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Statistic 14

"Less than 50% of innovative firms have a formal innovation management process."

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Statistic 15

"In 2019, 5.9% of total employment in the EU was in high-growth enterprises, often fuelled by innovation."

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Statistic 16

"The U.S. spends the most on innovation, with $476 billion in annual R&D investment."

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Statistic 17

"Over 30% of enterprises introduced innovations to their goods or services in 2020."

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Statistic 18

"Companies in the top 10% for innovation increase their net income by 12.9% annually."

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