As of 2023, business enterprise expenditure on R&D performed in services in Canada stood significantly lower than projected values. From 2024 to 2028, the forecast indicates steady growth, with the R&D expenditure expected to rise from 15.38 billion USD PPP in 2024 to 18.62 billion USD PPP in 2028. The annual growth rate exhibits an upward trend, with consistent year-on-year increases indicating a promising outlook for R&D investments in the service sector.
Future trends to watch include digital transformation, increased automation, and heightened emphasis on sustainable and green technologies driving the R&D expenditure. Monitoring policy changes and global economic conditions will also be essential in refining future projections.
