The business enterprise expenditure on R&D in Natural Sciences and Engineering in Canada increases steadily from 2024 to 2028, with values rising from 20.61 billion USD to 22.8 billion USD. In 2023, actual spending was 20.10 billion USD. Year-on-year growth estimates are approximately 2.7% for 2024–2025, and slightly decrease by a consistent rate until 2028. The CAGR over the five-year forecast period stands at approximately 2.5%. This steady growth suggests a continuous investment in innovation and technological advancement in these fields.
Future trends to watch include a potential acceleration in R&D spending driven by advancements in technology and increased demand for sustainable solutions. Additionally, the growing emphasis on digital transformation and artificial intelligence could spur higher investment in R&D, particularly in enhancing computational capacities and data-driven innovations.
