Who Prioritizes Innovation? R&D Spending Compared for Avery Dennison Corporation and CNH Industrial N.V.

Innovation in Focus: A Comparative Analysis of R&D Spending

In the ever-evolving landscape of global business, innovation remains a cornerstone of competitive advantage. Avery Dennison Corporation and CNH Industrial N.V. exemplify this through their research and development (R&D) investments over the past decade. From 2014 to 2023, CNH Industrial consistently allocated a significant portion of its resources to R&D, with expenditures peaking at over $1.2 billion in 2021. This represents a robust commitment to innovation, averaging nearly 10 times more than Avery Dennison's annual R&D spending.

Avery Dennison, while investing less in absolute terms, has shown a steady increase in its R&D budget, culminating in a 36% rise from 2014 to 2023. This strategic focus on innovation underscores the company's dedication to maintaining its competitive edge. As businesses navigate the complexities of the modern market, these insights into R&D priorities offer a glimpse into the future of industry leadership.