In 2023, Higher Education Expenditure on R&D in Canada stood at 13.36 billion USD PPP. The data forecasted for the period from 2024 to 2028 indicates a steady growth in R&D expenditure, with values reaching 13.51 billion USD PPP in 2024 and progressively increasing to 14.2 billion USD PPP by 2028. Year-on-year, the variations show a consistent upward trend with increases of approximately 1.35% from 2024 to 2025, 1.24% from 2025 to 2026, 1.23% from 2026 to 2027, and 1.21% from 2027 to 2028. Over the last two years from 2023 to 2025, the average year-on-year increase is approximately 1.3%. The compound annual growth rate (CAGR) over the five-year forecasted period (2024-2028) is approximately 1.3% annually.
Future Trends to Watch For:
- Increased government and private sector investment in innovation and technology.
- The impact of global economic conditions on R&D funding.
- Advancements in fields like AI, biotechnology, and sustainable technologies driving higher education R&D priorities.
- Potential changes in policy and funding due to the evolving political landscape.