In 2023, Canada's business enterprise expenditure on R&D stood at approximately 16.08 thousand USD PPP. Forecasts suggest a modest, steady increase in investments from 2024 to 2028, with incremental growth per year. From 2024 to 2028, the year-on-year growth rates are anticipated to be between 1% and 2%, leading to a projected 5-year CAGR slightly above 1%.

Future trends to watch for include:

Emergence of high-tech sectors, which may accelerate R&D spending.
Influence of government policies and funding initiatives encouraging innovation.
Potential impacts of global economic conditions on corporate investment capacities in Canada.