New research has found the architecture and engineering industry to be among the most innovative in the UK.
UK-based fintech firm Tide analysed the 50 most popular sectors in the UK to calculate the most innovative industries in the country.
The third most innovative was architecture and engineering, with a total research and development expenditure of £1.6bn
The analysis concluded that architectural ventures such as sustainable homes and engineering projects involving renewable energy sources are being well-funded as the country attempts to battle the effects of climate change.
The biggest industry in terms of R&D spending is the manufacturing of motor vehicles, as technology such as driverless cars, better electric batteries, and the mass production of hydrogen-powered cars are being pursued.
Manufacturing of other forms of transport spent almost as much as the motor industry on R&D in 2019, focusing on improvements to rail and air transport.
Some of this spending fuelled research into the proposed next generation of supersonic airliners.
Advertising and market research companies saw the biggest increase in R&D spending between 2014 and 2019, with an increase of over £300m (or 1,059%).
When looking at the 2010s as a whole, the biggest increase in R&D spending took place within the accommodation and food services industry, with a growth of over 2,300%.
Amazon is the company spending the most on research and development, with an annual expenditure of £16.5bn, followed by Alphabet (Google) with an annual R&D spend of £11.8bn
Most innovative industries in the UK:
|Rank||Industry||2019 Research and Development Expenditure (£)|
|1||Manufacture of motor vehicles, trailers and semi-trailers||2.5B|
|2||Manufacture of other transport equipment||2.0B|
|3||Architectural and engineering activities||1.6B|
|4||Wholesale and retail trade; repair of motor vehicles and motorcycles||1.3B|
|5||Manufacture of computer, electronic and optical products||1.3B|
|6||Manufacture of machinery and equipment n.e.c.||817M|
|7||Financial and insurance activities||690M|
|8||Manufacture of basic pharmaceutical products and pharmaceutical preparations||603M|
|9||Manufacture of fabricated metal products, except machinery and equipment||590M|
|10||Activities of head offices; management consultancy activities||374M|
Image: Yuganov Konstantin/Shutterstock
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