As an industry, high tech spent an average of 8.3% of revenue on R&D over the four year period from 2008 - 2011. This compares to a spend rate of only 4.8% in a diversified set of other product-driven industries. Meaning that on average high tech spent 73% more on R&D as a percent of revenue than other industries.
And what did that investment get us? An annual revenue growth rate over the same period of 3.9% versus a diversified industry benchmark of 4.2%. All that incremental investment in R&D yielded a lower rate of revenue growth.