In 2023, private non-profit expenditure on R&D in engineering and technology in Canada reached an estimated base value. From 2024, forecasts suggest a steady upward trend, with expenditures growing from 13.95 million USD PPP to 16.68 million USD PPP by 2028. The year-on-year percentage growth shows a consistent increase, reflecting a positive investment outlook in this sector. The Compound Annual Growth Rate (CAGR) over the five-year period starting in 2023 highlights sustained interest and funding in R&D activities.

Future trends to watch include:

Strengthening collaborations between non-profits and academic institutions or industry players.
Increasing focus on sustainable and green technologies within the engineering sector.
Potential governmental policy changes affecting funding and investment incentives.
Technological advancements that necessitate increased R&D expenditure to remain competitive.