R&D Insights: How ServiceNow, Inc. and ON Semiconductor Corporation Allocate Funds

R&D Spending: A Tale of Two Innovators

In the ever-evolving tech landscape, research and development (R&D) is the lifeblood of innovation. ServiceNow, Inc. and ON Semiconductor Corporation exemplify this commitment, with their R&D investments reflecting strategic priorities over the past decade. From 2014 to 2023, ServiceNow's R&D expenses surged by over 1,300%, highlighting its aggressive push towards innovation. In contrast, ON Semiconductor's R&D spending grew by approximately 57% during the same period, indicating a steady yet cautious approach.

ServiceNow's R&D allocation peaked in 2023, with a remarkable 2.1 billion dollars, while ON Semiconductor maintained a consistent investment, peaking at 655 million dollars in 2021. The data reveals a missing value for ON Semiconductor in 2024, suggesting a potential shift or reevaluation in their R&D strategy. As these companies navigate the future, their R&D investments will undoubtedly shape their competitive edge in the tech industry.