NVB Stocker AdobeStock_387392744
Data from Source Advisors reveals that the logistics sector has invested a total of $10 billion in R&D, up from $7 billion in the previous year, which is nearly three times higher than the U.S. average over the same period.
“Investment in R&D is no longer optional but a strategic necessity to stay ahead in the competitive landscape. We’ve seen through working with national and international firms in the transportation and logistics sector the increased importance placed on being at the forefront of technology to improve existing services and identify new innovation routes,” says Jordan Fazio, senior director R&D tax credits at Source Advisors.
Key takeaways:
- The recent surge is part of a significant long-term investment in innovation from the transportation and warehousing sector, with a near 20-fold rise in R&D investment over half a decade.
- R&D spending in the sector can encompass a wide range of investment areas, from custom software development for fleet, inventory, or workforce management, advancing digital monitoring capabilities, to robotics and other automated technologies.
