20 Largest R&D Companies in the World

Published on May 4, 2023 at 5:54 am by Ruchi Gupta in Business, Lists, News

In this article, we will be taking a look at the 20 largest R&D companies in the world. If you want to go straight to the top five companies, you can go directly to see the 5 Largest R&D Companies in the World.

Research and Development (R&D) refers to activities that organizations, including businesses and governments, engage in to innovate processes, services, or products. If more R&D means more innovation, 2022 was the best year because, according to a United Nations (UN) report, global patent application rose to over 278,000. The report notes that the patent applications represent the “highest number ever recorded in a single year”.

But the sudden influx of new patent applications does not come out of thin air. For example, according to the Global Innovation Index (GII) 2022, the number of scientific articles – usually, the results of R&D are communicated through scientific articles – crossed the 2 million market for the first time in 2021. This suggests that much more money has been spent in the past few years to fund researchers. Their studies are only starting to generate positive returns. But who is funding the R&D?

Both governments and private sector fund scientists to help them answer specific questions or solve a particular problem. From a general perspective, investment in innovation has grown tremendously over the past two decades. For example, according to the United States’ National Science Board, global R&D expenditure in 2000 was around $726 billion, but the value tripled to approximately $2.4 trillion in 2019. While the US has led the global R&D expenditure (on country basis) for many decades, this lead has been increasingly narrowing. For example, the US share of global R&D expenditure was 37.1% in 2000, 29.0% in 2010, and 27.3% in 2019.

A similar dynamic is taking place in the private sector. Two decades ago, there was no company outside the US and the EU that competed among the top R&D spenders in the world. But the picture is different, especially in the past decade where more companies from Asia (particularly India and China) allocate a considerable part of their revenue to innovation. According to the latest Global Innovation 1000 study – this is PwC research conducted once every five years, the latest report was released in 2018 – corporates spend huge sums every year on R&D. Most of the leading companies in this ranking are also the most valuable globally. They are able to expend billions annually to R&D because their huge revenues. Also, the research reveals that the world’s top corporate innovators are overwhelmingly technology, motor vehicle, and biotechnology/pharmaceutical companies.

Photo by National Cancer Institute on Unsplash

Our Methodology

We chose 20 companies with highest R&D spending. This ranking of the world’s 20 largest R&D companies relies on the latest published annual reports of the companies for the calendar year 2022. When companies quoted R&D expenditure in currencies other than US dollars, we converted the figures to into USD using the exchange rate on December 31, 2022.

Largest R&D Companies in the World

20. AstraZeneca PLC (NASDAQ:AZN)

R&D spending in FY2022: $9.762 billion

AstraZeneca focuses on oncology, biopharmaceuticals, and vaccines. The company spent about $9.762 billion on R&D in 2022, which was slightly higher than 2021. Some of its research and development expenses were related to developing new medicines for cancer, cardiovascular diseases, respiratory diseases, immunology, rare diseases, and other areas. It also developed a COVID-19 vaccine in collaboration with Oxford University, which was approved by several countries and the World Health Organization.

19. Toyota Motor Corp. (NYSE:TM)

R&D spending in FY2022: $9.79 billion

Toyota Motor is a Japanese multinational automotive company that produces and sells vehicles under four brands: Toyota, Lexus, Daihatsu and Hino.

18. Meta Platforms, Inc. (NASDAQ:META)

R&D spending in FY2022: $9.8 billion

Meta Platforms, formerly known as Facebook, is an American multinational technology company that was founded in 2004. It owns various social media platforms and services, such as Facebook, Instagram, WhatsApp, Messenger, and Meta Quest. It also has interests in artificial intelligence, virtual reality, augmented reality, cloud computing, and other domains. Meta Platforms spent about $9.8 billion on R&D in 2022, which was an increase of 38.67% from 2021.

17. General Motors Company (NYSE:GM)

R&D spending in FY2022: $9.80 billion

General Motors Company is an American multinational automotive manufacturing company that was founded in 1908. It produces vehicles under various brands, such as Chevrolet, Buick, GMC, and Cadillac.

16. Novartis AG (NYSE:NVS)

R&D spending in FY2022: $10 billion

Novartis is a Swiss multinational pharmaceutical company that was founded in 1996. It focuses on oncology, biopharmaceuticals, and generics. The company spent about $10 billion on R&D in 2022. The money went to developing new medicines for malaria, neglected tropical diseases, cancer, cardiovascular diseases, respiratory diseases, immunology, rare diseases, and other areas. It also pledged to invest $250 million in R&D for the treatment of malaria and neglected tropical diseases over the next five years.

15. Merck & Co Inc. (NYSE:MRK)

R&D spending in FY2022: $10.1 billion

Merck is an American multinational pharmaceutical company that develops and produces medicines, vaccines, biologic therapies and animal health products. It was founded in 1891 as the American subsidiary of the German company Merck Group, which it became independent from in 1917. Merck spent $10.1 billion on R&D in 2022, an increase from $9.9 billion in 2021.

14. Mercedes-Benz Group (OTCMKTS:MBGYY)

R&D spending in FY2022: $10.66 billion

Mercedes-Benz Group AG is a German multinational automotive corporation that produces and distributes premium and luxury cars, vans, trucks and buses.

13. Bristol-Myers Squibb Company (NYSE:BMY)

R&D spending in FY2022: $11.1 billion

Bristol-Myers Squibb is an American multinational pharmaceutical company that manufactures prescription pharmaceuticals and biologics in several therapeutic areas, such as cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis, and psychiatric disorders. The company spent $11.1 billion on R&D in 2022, a slight decrease from 11.4 billion in 2021.

12. Pfizer, Inc. (NYSE:PFE)

R&D spending in FY2022: $11.4 billion

Pfizer is one of the world’s premier biopharmaceutical companies that develops and produces medicines and vaccines for various diseases. It was founded in 1849 in New York, United States. One of its most notable products is the Pfizer-BioNTech COVID-19 vaccine, which has been authorized for emergency use in many countries.

11. Johnson & Johnson (NYSE:JNJ)

R&D spending in FY2022: $14.603 billion

Johnson & Johnson (J&J) is a US-based multinational corporation that operates in three segments: consumer health, pharmaceuticals and medical devices. The company’s expenditure on R&D in 2022 was $14.603 billion, a 0.75% decline from 2021. J&J’s R&D spending represented 12.9% of its total revenue in 2022, down from 13.6% in 2021.

10. Roche Holding AG (OTCMKTS:RHHBY)

R&D spending in FY2022: $15.15 billion

Roche is a Swiss-based multinational healthcare company that operates in three divisions: pharmaceuticals, diagnostics and diabetes care. Its expenditure on R&D in 2022 was CHF14.05 billion (about $15.15 billion), a 2.7% increase from 2021. Roche’s R&D spending represented 22% of its total revenue in 2022, down from 23% in 2021. The main R&D areas include oncology, immunology, neuroscience, infectious diseases and rare diseases.

9. Alibaba Group (NYSE:BABA)

R&D spending in FY2022: $17 billion

Alibaba is a Chinese multinational e-commerce, technology, and entertainment company founded in 1999. It operates various online platforms, such as Alibaba.com, Taobao, Tmall, AliExpress, Alipay, Alibaba Cloud, and others. It also has interests in media, entertainment, logistics, health care, and other sectors. Alibaba spent approximately 110.5 billion yuan (about $17 billion) on R&D in 2022, which was an increase of 19% from 2021. The funds went to artificial intelligence, cloud computing, e-commerce, payment systems, logistics, digital media, and online services research.

8. Volkswagen Group (OTCMKTS:VWAPY)

R&D spending in FY2022: $17.1 billion

Volkswagen is a German multinational automotive company that produces passenger cars, commercial vehicles, motorcycles and engines. Volkswagen’s total R&D costs in the automotive division in 2022 amounted to $17.1 billion, which represented 7.6% of its revenue. This expense increased by 12.2% compared to 2021, reflecting its focus on electrification, digitalization, new technologies and modular platforms. Volkswagen filed 5,638 patent applications worldwide for employee inventions in 2022, mainly in Germany, and in fields such as driver assistance systems, automation and connectivity, and alternative drive systems.

7. Intel Corporation (NASDAQ:INTC)

R&D spending in FY2022: $17.53 billion

Intel is a US-based multinational corporation that develops and manufactures microprocessors, chipsets, memory, storage, software and other technologies. Its R&D expenses for 2022 were $17.528 billion, a 15.39% increase from 2021. The expense represented 23% of its total revenue in 2022, up from 21.8% in 2021. The main R&D areas include process technology, packaging technology, CPU architecture, GPU architecture, AI accelerators, memory and storage solutions, software and security.

6. Tencent Holdings ADR (OTCMKTS:TCEHY)

R&D spending in FY2022: $17.7 billion

Tencent is a Chinese multinational technology and entertainment company founded in 1998. It is the world’s largest video game vendor and one of the most valuable companies. It provides various internet-related services and products, such as social networks, music, web portals, e-commerce, mobile games, internet services, payment systems, smartphones, and multiplayer online games. The company spent about 114.5 billion yuan (about 17.7 billion U.S. dollars) on R&D in 2022, which was an increase of 28% from 2021. Some of the expenditure was related to artificial intelligence, cloud computing, automation, search engine, social networking, instant messaging, mass media, web browser, antivirus software, music, payment system, film production, video games, and online services.

Click to continue reading and see 5 Largest R&D Companies in the World.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

The AI infrastructure supercycle
The onshoring boom driven by Trump-era tariffs
A surge in U.S. LNG exports
And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

We’re now offering month-to-month subscriptions with no commitments.

For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

Access to our Detailed Report on our AI, Tariffs, and Nuclear Energy Stock with 100+% potential upside within 12 to 24 months
BONUS REPORT on our #1 AI-Robotics Stock with 10000% upside potential: Our in-depth report dives deep into our #1 AI/robotics stock’s groundbreaking technology and massive growth potential.
One New Issue of Our Premium Readership Newsletter: You will also receive one new issue per month and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.
One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149
Bonus Content: Premium access to members-only fund manager video interviews
Ad-Free Browsing: Enjoy a month of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
Lifetime Price Guarantee: Your renewal rate will always remain the same as long as your subscription is active.
30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!

Insider Monkey Ads

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up

20 Largest R&D Companies in the World

Published on May 4, 2023 at 5:54 am by Ruchi Gupta in Business, Lists, News

Largest R&D Companies in the World

20. AstraZeneca PLC (NASDAQ:AZN)

19. Toyota Motor Corp. (NYSE:TM)

18. Meta Platforms, Inc. (NASDAQ:META)

17. General Motors Company (NYSE:GM)

16. Novartis AG (NYSE:NVS)

15. Merck & Co Inc. (NYSE:MRK)

14. Mercedes-Benz Group (OTCMKTS:MBGYY)

13. Bristol-Myers Squibb Company (NYSE:BMY)

12. Pfizer, Inc. (NYSE:PFE)

11. Johnson & Johnson (NYSE:JNJ)

10. Roche Holding AG (OTCMKTS:RHHBY)

9. Alibaba Group (NYSE:BABA)

8. Volkswagen Group (OTCMKTS:VWAPY)

7. Intel Corporation (NASDAQ:INTC)

6. Tencent Holdings ADR (OTCMKTS:TCEHY)

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Premium

Log In

Sign Up

20 Largest R&D Companies in the World

Published on May 4, 2023 at 5:54 am by Ruchi Gupta in Business, Lists, News

Share

Largest R&D Companies in the World

20. AstraZeneca PLC (NASDAQ:AZN)

19. Toyota Motor Corp. (NYSE:TM)

18. Meta Platforms, Inc. (NASDAQ:META)

17. General Motors Company (NYSE:GM)

16. Novartis AG (NYSE:NVS)

15. Merck & Co Inc. (NYSE:MRK)

14. Mercedes-Benz Group (OTCMKTS:MBGYY)

13. Bristol-Myers Squibb Company (NYSE:BMY)

12. Pfizer, Inc. (NYSE:PFE)

11. Johnson & Johnson (NYSE:JNJ)

10. Roche Holding AG (OTCMKTS:RHHBY)

9. Alibaba Group (NYSE:BABA)

8. Volkswagen Group (OTCMKTS:VWAPY)

7. Intel Corporation (NASDAQ:INTC)

6. Tencent Holdings ADR (OTCMKTS:TCEHY)

Share

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff