The Gross Domestic Expenditure on R&D in Canada is projected to grow steadily from 2024 through 2028, reaching 33.42 billion US dollars PPP by the end of the period. The year-on-year variation indicates a consistent and modest growth pattern, averaging about 1.22% annually. In 2023, the expenditure was estimated at a marginally lower value, highlighting a positive trend in investment into R&D. The compound annual growth rate (CAGR) for the five-year period projects a stable increase, indicating a sustained commitment to bolstering research capabilities.

Future trends to watch for:

Potential impact of emerging technologies, such as AI and machine learning, on R&D investment prioritization.
Government policy changes that might spur increased funding or tax incentives for R&D activities.
The role of international collaborations and partnerships in augmenting R&D capabilities.