The forecast for business enterprise R&D expenditure in wholesale and retail trade, as well as the repair of motor vehicles and motorcycles in Canada, shows a consistent upward trend from 2024 to 2028, with values rising from 2.09 to 2.3 billion US Dollars PPP. In 2023, the expenditure was recorded at 2.0 billion US Dollars PPP. Year-on-year growth rates for 2025 and beyond suggest incremental increases of around 2.87% annually, signifying a steady investment in R&D. The last five years exhibit a Compound Annual Growth Rate (CAGR) of approximately 2.58%.
Future trends to watch for include continued digital transformation efforts in retail and automotive services, the influence of emerging technologies such as AI and IoT, and the evolving consumer preferences towards sustainable and innovative products. These factors could further drive R&D investments.
