The Business Enterprise Expenditure on R&D performed in services in Canada is expected to see a steady increase from 2024 to 2028, beginning at 69.88 in 2024 and reaching 74.17 by 2028. In 2023, this value was approximately 68.80, indicating a gradual upward trend. The year-on-year growth is consistent, reflecting a healthy development pace in the sector. Over the five-year forecast period, the compound annual growth rate (CAGR) is expected to average around 1.5% annually.
Future trends to watch for include technological advancements, especially in digital services, which could further amplify investment and innovation levels. Additionally, government policy changes could impact funding and incentives for R&D activities in services, potentially accelerating or hindering growth.
