The forecast for higher education expenditure on R&D in Canada shows a steady growth trajectory from 2024 to 2028, rising from $13.6 billion to $14.14 billion. Comparing this with 2023, which stood at $13.45 billion, the year-on-year increase from 2023 to 2024 is approximately 1.1%. Over the subsequent years, the expenditure grows at a steady rate, with the compound annual growth rate (CAGR) estimated to be around 1.35% over the five-year period from 2024 to 2028.
Future trends to watch for include potential impacts of government policy changes, technological advancements, and collaborative international R&D projects, which could accelerate the growth rate of R&D expenditure in higher education institutions in Canada.
