Reports on Global Innovation Hint at Future Drivers of Economic Growth

Two reports out this week give insight into what industries might likely fuel economic growth – or certainly increased R&D activity -- in the coming decades?  Thomson Reuters released its second annual State of Global Innovation report, while Battelle and R&D Magazine published the Global R&D Funding Forecast. 

The Reuters report charts patent activity in 12 key areas of technology to determine which of these are most likely to drive future innovation.  Patent activity in both the aerospace and automotive industries, indicates these will be strong growth sectors in the future.  Aerospace patent activity increased by 25 percent from 2009 to 2010, driven primarily by innovation in the vehicle and satellite technologies subsector.  

Concurrently, automotive marched up the list from fourth to second, surpassing both the telecommunications and semiconductor industries.  This was fueled primarily by innovation within the alternative powered vehicle subsector which saw 21 percent increase in patent activity.  

Despite a six percent decline in total volume of patents filed in 2010, computers and peripherals retained the top spot as the most innovative technology area.  There were 212,622 unique inventions patented in this subsector. 

According to the Battelle/R&D Magazine forecast the key issues impacting future R&D efforts for US researchers include healthcare for the aging, demand for renewable/sustainable energy,  global population growth, growth in consumerism in emerging markets. 

The report also charts R&D funding per nation.  The US is cited as first in eight of  nine categories, with Japan cited as the leader in the “automotive and other motor vehicle” category.  China is now second only to the US, and is benefitting greatly from an unprecedented investment in education.

Read more about the State of Global Innovation report at: 
http://ip.thomsonreuters.com/InnovationReport2010/L-364963_online.pdf

Access the Battelle/

R&D Magazine

report: 

http://www.battelle.com/SPOTLIGHT/1-26-11_survey.aspx