The forecast for Canadian business enterprise expenditure on R&D in the services sector indicates a steady upward trend from 2024 to 2028, with an average annual growth rate of approximately 1.43% per year. This consistent increase suggests a strengthening focus on innovation within the services sector. For perspective, in 2023, the spending stood below the forecasted 2024 value of 69.88% of Total Business Enterprise Research and Development (BERD), marking a progressive rise in subsequent years.

Future trends to watch for include:

Increasing digital transformation and automation in services.
Possible economic adjustments affecting funding allocations.
Growing importance of sustainable and green technologies influencing R&D priorities.