Innovation Spending: A Tale of Two Tech Giants

In the ever-evolving tech landscape, innovation is the lifeblood of success. ServiceNow, Inc. and Pure Storage, Inc. exemplify this with their substantial investments in research and development (R&D) over the past decade. Since 2014, ServiceNow has consistently outpaced Pure Storage in R&D spending, with a staggering 1,333% increase by 2023. In contrast, Pure Storage has shown a remarkable 1,820% growth in the same period, albeit from a smaller base.

ServiceNow's Strategic Leap

ServiceNow's R&D expenses surged from 2014 to 2023, peaking at over $2 billion in 2023. This reflects their commitment to maintaining a competitive edge in the software industry.

Pure Storage's Steady Climb

Pure Storage, while trailing in absolute numbers, has demonstrated a consistent upward trend, reaching nearly $737 million in 2024, showcasing their dedication to innovation.

Both companies highlight the critical role of R&D in driving technological advancement and market leadership.