In 2023, the total internal R&D personnel in Canada's wholesale and retail trade; repair of motor vehicles and motorcycles sectors was approximately 14.09 thousand full-time equivalents. From 2024 to 2028, forecasts show a steady increase from 14.17 to 14.48 thousand, reflecting a consistent growth trend. The year-on-year growth rate over these years remains modest, around 0.56%, highlighting stable expansion. The compound annual growth rate (CAGR) over the next five years is projected to be approximately 0.69%.
Future trends to watch for:
- Integration of advanced technologies to boost R&D efficiency.
- Potential impact of economic fluctuations on R&D budgeting.
- Increased focus on sustainable and eco-friendly innovations.
