Forecast: Mobile Broadband Subscriptions in Canada

The number of mobile broadband subscriptions in Canada has shown a notable upward trend from 2013 to 2023, increasing from 18.169 million to 35.057 million. This equates to a consistent year-on-year growth with periods of varying intensity. Notably, after a slight dip in 2020, the market recovered quickly in subsequent years. For 2023, subscriptions stood at 35.057 million, reflecting a year-on-year increase of 5.81%. Over the last two years, the growth rates were 7.37% in 2022 and 5.81% in 2023. The compound annual growth rate (CAGR) over the past five years was 4.36%, indicating moderate yet steady growth.

Looking forward, the forecast data from 2024 to 2028 suggest a continuation of this growth trend, albeit at a slightly reduced CAGR of 3.78%, resulting in a total growth of 20.36% over this period. By the year 2028, mobile broadband subscriptions are expected to reach 44.519 million.

Future trends to watch include the impact of technological advancements such as 5G, changes in regulatory policies, and evolving consumer preferences toward mobile data usage. The adoption of IoT (Internet of Things) devices and increasing reliance on mobile connectivity for remote work and entertainment will further drive market growth.