Business enterprise expenditure on R&D in Canada is projected to grow consistently, starting from $20.4 billion in 2024 and reaching $22.27 billion by 2028. Remarkable progress since 2023 is evidenced by steady increases: 2.35% in 2025, 2.2% in 2026, 2.2% in 2027, and 2.1% in 2028. The anticipated compound annual growth rate (CAGR) over this period is roughly 2.2% per year.
Future trends to watch for include:
- Emerging technology sectors driving R&D investment.
- The impact of policy changes or incentives on investment levels.
- Increasing focus on sustainable development and green technologies.
