Effective innovation will be critical to coping with the following Automotive trends: - shifts in consumer demand, - expanded regulatory requirements for safety and fuel economy, and - the increased availability of data and information. Automotive R&D spending has generally risen overthe past decade. Overall, R&D spending by automotive companies has gone up by an average CAGR of 4.6% over the past 10 years. The growth has generally been smooth, with just two years of decline in R&D spending during that time. Automotive companies rank #3 in innovation spending. more: http://www.strategyand.pwc.com/global/home/what-we-think/reports-white-papers/article-display/auto-industry-findings About the Global Innovation 1000: For the 10th year, PwC Strategy& analyzed R&D investment at the 1,000 biggest spending public companies in the world. In addition to undertaking our recurring analysis of R&D spending trends, we interviewed and surveyed more than 500 R&D executives and innovation leaders to get their perspectives on changes in innovation at their companies over the last decade and what they expect in the 10 years to come.