Forecast: Value Added of Software Publishing in Canada

The software publishing sector in Canada has shown a generally positive trend from 2013 to 2023, with some fluctuations. Notable dips occurred in 2015 and 2020, with 2020 seeing a significant decline of 59.82% likely due to the COVID-19 pandemic. However, the sector rebounded sharply in 2021 with a 164.1% rise. The industry value stood at CAD 9.96 billion in 2023, with a 3.2% year-on-year increase from the previous year.

Over the last five years up to 2023, the industry exhibited a CAGR of 4.29%. Forecasts suggest a continued but moderate expansion with a 2.35% CAGR over the next five years, cumulating in a 12.33% growth by 2028.

Future trends to watch for:

• The impact of emerging technologies such as AI and blockchain on software publishing.
• Potential shifts due to regulatory changes and data privacy concerns.
• The ongoing digital transformation of various sectors influencing software demand.
• Market realignments post-pandemic and their implications on software needs and innovations.