The forecasted business enterprise expenditure on R&D in high and medium-high R&D intensive industries in Canada shows a decreasing trend from 2024 to 2028. Starting at $3156.3 trillion PPP in 2024, the expenditure is projected to decline to $2759.2 trillion PPP by 2028. Year-on-year variations indicate a consistent decrease of approximately 3% annually from 2025 onwards. In 2023, the expenditure stood slightly higher as these subsequent years exhibit declines. Over the five-year period, the compounded annual growth rate (CAGR) reflects a persistent downward trajectory.

Future trends to watch for:

Potential policy changes or government initiatives aimed at boosting R&D activities.
Technological advancements that could alter investment patterns or requirements.
Global economic conditions impact on Canada's R&D expenditure.
Shifts in industry focus towards more sustainable and innovative solutions.