In 2023, total internal R&D personnel in the manufacture of electrical equipment in Canada stood at 2.36 thousand full-time equivalents. The forecast for 2024-2028 indicates a slight, steady increase in R&D personnel, from 2.37 thousand in 2024 to 2.40 thousand in 2028. The year-on-year percentage variation is minimal, with most years showing negligible growth. Looking at the Compound Annual Growth Rate (CAGR) from 2024 to 2028, the growth rate is modest but noticeable. This suggests a consistent, albeit slow, growth trajectory in the R&D workforce within the sector.

Future trends to watch for:

Technological advancements and their potential to drive demand for skilled R&D personnel.
Government policies and incentives supporting R&D in electrical equipment manufacturing.
Impact of global economic conditions on investment in R&D activities within the sector.