How much does R&D cost in 2022Posted by Anna Culada on August 3rd, 2022  How much does r&d cost in 2022Research and development (R&D) is a vital part of any company’s strategy. It can be costly, but it can also yield high-quality results in the form of new products and services. Companies conduct R&D to understand, create and improve their products and services. Many companies focus on R&D to stay competitive in today’s tech-driven world. The approximate cost of each patent in 2017 and 2018 was ,935 and ,145 respectively. Since companies apply for multiple patents at once, the total cost is much higher than these averages. Many companies use R&D to gain an early edge on competition by creating innovative products or services before their competitors do so they can gain a monopoly position in that market segment. Companies such as Apple are known for focusing heavily on R&D— this focus has allowed them to create some of the best consumer electronics available today. The downside is that research and development can be costly if done incorrectly— resulting in failed products or services that nobody wants or needs. Failing early in development leads to more expensive fixes down the road when trying to create actual sales instead of prototypes or unsold products with little value to customers. Like it? Share it! More by this author |