The self-employed IT services sector in Canada has seen fluctuating trends over the past decade. Between 2013 and 2023, the number of self-employed individuals ranged from 32.92 to 38.6 thousand, with notable fluctuations particularly during 2020 and 2021, likely influenced by the pandemic. As of 2023, the sector stood at 37.34 thousand units, indicating a mild decrease from 2022.
Year-on-year variation from 2022 to 2023 showed a slight decline of 1.54%. Over the last five years, the Compound Annual Growth Rate (CAGR) averaged at 0.86%, reflecting steady but slow growth. Forecasted data indicates an upward trend, with a 5-year CAGR projected at 0.62% and an expected growth rate of 3.15% by 2028.
Future Trends to Watch For:
- Impact of remote work trends on self-employment in IT services.
- Technological advancements driving demand for specialized IT skills.
- Economic recovery post-pandemic influencing entrepreneurial ventures.
- Government policies towards supporting small businesses and freelancers.
