The private non-profit expenditure on R&D in engineering and technology in Canada is projected to grow steadily from $12.99 million in 2024 to $15.52 million in 2028, marking a strong positive trend. Given the expenditure in 2023 was $12.25 million, the sector is poised for a consistent increase, with an average compound annual growth rate (CAGR) of approximately 4.5% over these five years. Year-on-year growth rates are expected to showcase a steady increase, indicating robust interest and investment in this field.
Future trends to watch for:
- Increased private and public interest in innovative engineering solutions addressing climate change and sustainable development.
- Potential shifts in funding priorities influenced by political or economic factors, impacting investment levels in R&D.
