Research and experimental development on natural sciences and engineering

NACE code 72.1, 'Research and experimental development on natural sciences and engineering', encompasses a critical industry that drives innovation and technological advancement across a wide range of sectors. This industry is responsible for conducting fundamental and applied research to expand the boundaries of scientific knowledge and develop new technologies, products, and processes that can enhance productivity, improve quality of life, and foster economic growth.

The core activities within this industry involve systematic investigations, observations, and experiments to acquire new knowledge or solve specific problems. Researchers utilize a variety of scientific methods and techniques, including hypothesis formulation, data collection, analysis, and interpretation, to explore and understand natural phenomena, develop new theories, and create innovative solutions. Collaboration between researchers, engineers, and subject matter experts is often crucial to the success of these research and development efforts.

The primary inputs required for this industry include highly skilled and specialized personnel, such as scientists, engineers, and technicians, who possess advanced knowledge and expertise in their respective fields. Additionally, the industry relies on access to state-of-the-art research facilities, specialized equipment, and cutting-edge technologies, as well as funding from various sources, including government agencies, private companies, and research institutions.

The outputs of this industry can take many forms, including new scientific discoveries, technological innovations, and improved processes or products. These outputs can then be utilized by a wide range of other NACE codes, such as 72.2 Research and experimental development on social sciences and humanities, 71.1 Architectural and engineering activities and related technical consultancy, and 26.1 Manufacture of electronic components and boards, among others. The knowledge and technologies generated through this industry's activities can drive advancements and enhance the competitiveness of various economic sectors.