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Strong Growth Forecasted for Academic Research and Development Market: Market Size, Growth Drivers, and Key Trends
Academic Research And Development Market
What Is The Projected Market Size Of The Global Academic Research And Development Market And Its Growth Rate?
• The academic research and development market has grown strongly in recent years, it is forecasted to grow from $537.27 billion in 2024 to $580.79 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%.
• The continued growth can be attributed to the rise of interdisciplinary research, government investments, demand from the business sector, and globalization.
• The market size is expected to see more growth in the following years, reaching $811.56 billion in 2029 at a CAGR of 8.7%.
• Main drivers of growth include rising number of students and researchers, increasing funding for academic R&D, a growing focus on commercialization, and a rise in health expenditure.
What Is Driving The Growth In The Academic Research And Development Market?
The academic research and development market growth is largely propelled by growing importance of research ethics and integrity. The term research integrity pertains to conducting research in such a manner that promotes faith in the techniques used and the results obtained. In addition, research ethics revolve around the ethical norms concerning research design, conduct, and reporting. Findings from a survey conducted by Springer Nature and the Australian Academy of Science on the topic of research integrity in Australia lend further support to this view, underscoring the desire for mandatory integrity training in the academic sector. Another key contributor to growth in the academic research and development market is the increased investment in research and development activities, which boosts innovation and societal wellbeing.
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Who Are the Key Players Driving Academic Research And Development Market Growth?
• Amazon.com Inc.
• Google LLC
• Microsoft Corporation
• JPMorgan Chase & Co.
• Meta Platforms Inc.
• Wells Fargo & Company
• accenture* PLC
• International Business Machines Corporation
• Bristol-Myers Squibb Company
• Laboratory Corporation of America Holdings
• S&P Global Inc.
• University of Michigan
• Johns Hopkins University
• Equifax Inc.
• University of Oxford
• Kantar Group and Affiliates
• The University of British Columbia
• Springer Nature Group
• Universidade de Sao Paulo
• Morningstar Inc.
• Harvard Medical School
• Stanford University
• Henry M. Jackson Foundation
• The Scripps Research Institute
• Peking University
• University of Washington
• Russian Academy of Sciences
• Helmholtz Association
• Max Planck Society for the Advancement of Science.
What Are The Key Trends In The Academic Research And Development Market?
• Emergence of research hubs
• Advancements in technology
• Global collaboration
• Focus on healthcare innovation
• Application of artificial intelligence (AI) and machine learning (ML) in academic research and development
What Are The Segments Of The Global Academic Research And Development Market?
1) By Specialties: Medicine And Healthcare, Engineering And Technology, Social Sciences, Natural Sciences, Humanities And Arts
2) By Type Of Funding: Public, Private
3) By Technology Focus: Information Technology And Computer Science, Biotechnology And Life Sciences, Nanotechnology And Materials Science, Energy And Environmental Sciences
4) By Industry: Healthcare, Energy, Manufacturing, Information Technology, Transportation
Which Region Leads The Academic Research And Development Market?
North America was the largest region in the Academic Research and Development market in 2024. Other regions covered in the academic research and development report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Academic Research And Development Global Market Report?
- Market Size Analysis: Analyze the Academic Research And Development market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Academic Research And Development market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Academic Research And Development market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Academic Research And Development market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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