In 2023, the total hours worked in Scientific R&D in Canada stood at approximately 110.93 million hours. Forecasted data shows a steady year-on-year growth with slight increases each year from 2024 to 2028. The projected CAGR over this period is modest, reflecting consistent expansion efforts in the sector, albeit at a gradual pace. Key drivers include increased investment in innovation and technological advancements spurring demand for R&D activities.
Future trends to watch for include heightened emphasis on sustainable technologies and digital transformations, which could significantly boost R&D efforts. Additionally, policy changes and funding shifts will likely impact the sector's growth trajectory.
