In 2023, Canada's business enterprise expenditure on R&D stood at an undisclosed amount. Forecasts indicate a steady increase in R&D investment, from 2024’s 20.63 billion USD to 22.82 billion USD in 2028. This reflects a compound annual growth rate, showing consistent year-on-year growth around 2.8% annually. This upward trajectory implies a firm commitment by Canadian enterprises to innovate and stay competitive globally.
Future trends to watch for include:
- Technology and innovation disruptions impacting R&D priorities.
- Policy changes regarding R&D incentives and tax credits.
- Growing emphasis on sustainable and green technologies.
- Increasing collaboration between public and private sectors in R&D activities.
