In 2023, the total internal R&D personnel in the printing and reproduction of recorded media in Canada was estimated, marking the baseline for 2024 forecasts. From 2024 to 2028, a steady decline is expected, with personnel decreasing from 450 FTEs in 2024 to 279 FTEs by 2028. This represents a year-on-year decrease of approximately 9.8% in 2025, 10.6% in 2026, 11.9% in 2027, and 12.8% in 2028. Over the five-year forecast period, the compound annual growth rate (CAGR) is projected at -11.6%, indicating a significant reduction in staffing levels.
Future trends to watch include technological advancements influencing labor needs in the industry, potential shifts towards digital media, and economic conditions affecting R&D investment. Companies may need to adapt strategies to optimize resource allocation and embrace innovation in order to maintain competitiveness amidst these changes.
