Innovation Managers Optimistic about 2012 R&D Investments
Industrial Research Institute Releases Annual R&D Trends Forecast
Arlington, VA January 12, 2012 - Every year the Industrial Research Institute (IRI) conducts a survey into the short- and long-term changes taking place within the R&D community. The purpose is to determine how practitioners feel about the coming year and what changes they expect to take place within their respective budgets. The longer-term, sea change analysis, included in this annual forecast, takes the survey results from previous years and helps paint a picture of how R&D spending and outlook have changed over time.
“Examining changes in survey data over time can yield useful insights,” noted Rich Antcliff, Chief Technologist at NASA and author of this year’s trends forecast. “Despite a minor decrease in the survey’s sea change index from 2011, managers are still projecting healthy growth in R&D spending, as well as an increase in new-product development expenditures throughout 2012.”
This year, for IRI’s 28th annual trends report, 104 organizations from across the R&D spectrum took part in the survey and revealed steady optimism regarding their budget outlook. R&D managers appear to be aggressively pursuing innovation and balancing it within the R&D portfolio. R&D hiring remains positive, as well, with an intensified focus on retaining top technical talent. The metrics involved tell a story of recovery and a shift towards new product development in 2012, but a few participants – a minority within the data – were indicating a decrease in spending and a more negative outlook than the previous year, which suggests some minor hesitation.
“Our members have told us they are planning on 2012 being a stable year of growth and innovation across the spectrum of R&D,” remarked Ed Bernstein, IRI President. “Our Trends Forecast is often used as a benchmarking tool for R&D leaders seeking a comparison of budget outlook and strategic planning from their industry counterparts. Of particular interest in each of these annual surveys are the responses we receive from the question ‘What keeps you up at night?’”
Download your copy of IRI’s 2012 R&D Trends Forecast.