Amazon is the leading R&D spender in the entire industry, which spends more than double on research and development each year of what any other tech giant does. It has also experienced a lot of growth in both ecommerce and cloud segments over the recent years. Amazon’s R&D budget is growing just as rapidly as it is enormous. In 2022, its R&D expenses grew more than 30% compared to the prior year. The company spent $20.45 billion on research and development in the first quarter of 2023, which was around 38% higher compared to the same quarter of the prior year.
Amazon’s Quarterly Research and Development Expenses 2020-2023