In 2023, the value added of activities auxiliary to financial service and insurance activities in Canada was 16.14 billion Canadian dollars. Beginning from 2024, the sector is projected to grow steadily from 16.49 billion Canadian dollars to 17.87 billion by 2028. This indicates a consistent annual growth, reflecting positive momentum in the industry.

Year-on-year growth is forecasted to be approximately 2.12% in 2025, 2.08% in 2026, 1.97% in 2027, and 1.94% in 2028. Over a five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is approximately 1.95%.

Future trends to watch for include:

Impact of technological advancements and digitalization on efficiency and service innovation.
Regulatory changes potentially affecting operational dynamics.
Climate change initiatives increasingly influencing financial services, spurring new services.
Shifting consumer expectations around personalized and digital service offerings.