In 2023, Canada's business enterprise expenditure on R&D stood at $16.42 billion USD (PPP, constant). Forecasted year-over-year variations show a consistent growth trend, with expected increases of approximately 1.44% from 2024 to 2025, and 1.36% from 2025 to 2026. The compound annual growth rate (CAGR) for 2024-2028 is projected at around 1.38% per year, reflecting steady albeit moderate growth over the period.
Future trends to watch for include the influence of technological advancements on R&D priorities, the integration of AI and data analytics in R&D strategies, and potential shifts in government policy supporting R&D initiatives that could impact funding and focus areas.
