The Business Enterprise Expenditure on R&D in Canada is forecasted to grow from 20.39 billion USD in 2024 to 22.23 billion USD by 2028. Compared to the estimated 2023 value of 19.94 billion USD, the expenditure is showing a steady increase. Year-on-year growth rates from 2024 onwards are calculated around 2.31% to 2.05% annually, with a Compound Annual Growth Rate (CAGR) of approximately 2.18% over the five-year period from 2024 to 2028.
Future trends to watch for:
- Increased digital and sustainability-related R&D investments driven by technological advancements and environmental policies.
- Policy changes affecting R&D tax incentives can impact overall expenditure levels.
- Growing collaboration opportunities between private enterprises and educational/research institutions.
