Who Prioritizes Innovation? R&D Spending Compared for ServiceNow, Inc. and Intuit Inc.

Innovation in the Tech Industry: A Comparative Analysis

In the ever-evolving tech landscape, innovation is the key to staying ahead. ServiceNow, Inc. and Intuit Inc. are two giants that have consistently prioritized research and development (R&D) to fuel their growth. Over the past decade, both companies have significantly increased their R&D spending, reflecting their commitment to innovation.

From 2014 to 2024, Intuit Inc. has seen a remarkable 263% increase in R&D expenses, growing from approximately $758 million to $2.75 billion. Meanwhile, ServiceNow, Inc. has demonstrated an even more impressive growth trajectory, with R&D spending surging by over 1,600%, from $148 million to $2.54 billion.

This data highlights a strategic focus on innovation, with ServiceNow, Inc. showing a more aggressive investment approach. As the tech industry continues to evolve, these investments are likely to play a crucial role in shaping the future of both companies.