The business enterprise R&D expenditure in Canada's manufacturing sectors including fabricated metal products, computer, electronic and optical products, electrical equipment, machinery, and transport equipment had an actual value in 2023. From this base, the forecasted expenditure declines from 2024 to 2028, with compound annual growth rate (CAGR) showing an average yearly decrease over this five-year period. The year-on-year percentage variations depict a consistent downward trend in spending through these years.
Future trends to watch for include:
- Technological advancements that could necessitate increased R&D investments, especially in smart manufacturing and automation.
- Changing trade policies, which may affect the cost structure and R&D priorities in these sectors.
- Government policies on tax incentives and funding support for R&D activities could influence future expenditure dynamics.
