In 2023, Canada's production of high R&D intensive activities stood at approximately CAD 88 billion. The forecasted data from 2024 to 2028 indicates steady growth, with an expected increase from CAD 89.67 billion to CAD 96.08 billion. This represents a year-on-year growth ranging around 1.8% - 2.0%. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately 1.8%, reflecting a consistent upward trend.
Future trends to watch for include:
- Continued investments in R&D to boost productivity.
- The impact of AI and automation on R&D efficiency.
- Potential shifts in governmental policies affecting R&D funding.
- Emerging technologies and their influence on R&D activities.
