The projected rise in Canada's higher education expenditure on R&D suggests consistent growth from $13.69 billion in 2024 to $14.54 billion by 2028 in US Dollars PPP. For context, in 2023, it was estimated at approximately $13.5 billion. These forecasts depict a steady year-on-year increase, with a noticeable compound annual growth rate (CAGR) of about 1.52% from 2024 to 2028.

Looking ahead, key trends to watch include:

Impact of technological advancements and artificial intelligence on research funding allocation.
Government policy changes and funding initiatives to foster R&D innovation.
International collaboration dynamics influencing research priorities and investments.