In 2023, actual Business Enterprise R&D Expenditure in Manufacturing in Canada stood at approximately 4.38 billion US Dollars PPP (2015). Forecasts predict a steady decrease over the next five years, with expenditure declining to 3.96 billion by 2028. The year-on-year decline ranges from approximately 2.1% to 1.7%, indicating a consistent downward trajectory. The compound annual growth rate (CAGR) over this period suggests an average annual reduction of around 2.1%, reflecting a potential contraction in R&D investment in the manufacturing sector.
Future trends to monitor include policy changes encouraging innovation, technological advancements that could reverse this decline, and global economic shifts impacting R&D allocation. Stakeholders should watch for strategic investments into emerging sectors like green technology and digital manufacturing that could influence these forecasts positively.
