Forecast: Employment in IT Services Sector in Canada

The employment in the IT Services sector in Canada has shown significant growth over the years, reaching 595.43 thousand persons in 2023, reflecting a 10.47% year-on-year increase. This sector has consistently expanded, except for a slight dip in 2020, likely due to the global pandemic. Over the past five years, the sector experienced an impressive average annual growth rate (CAGR) of 10.4%, highlighting its importance to the Canadian economy.

Looking ahead to 2028, employment in this sector is forecast to reach 914.43 thousand persons, with a forecasted 5-year CAGR of 6.74% and an overall growth rate of 38.58% from 2023 to 2028. This projection indicates sustained growth, albeit at a slightly moderated pace compared to the previous five years.

Future trends to watch for include:

• The rise of remote work and its impact on IT service employment distribution.
• Increased demand for cybersecurity professionals in response to growing digital threats.
• The influence of AI and automation on job roles and employment opportunities in the sector.
• Growing investment in IT infrastructure and its role in driving sectoral employment growth.