The number of self-employed individuals in the Advertising and Market Research sector in Canada has shown a general upward trend from 2013 through 2023, achieving 17.01 thousand units in 2023. The compound annual growth rate (CAGR) over the five years leading to 2023 was 2.73%, despite some fluctuations. Notably, there was a significant drop of 9.42% in 2020, followed by a strong rebound of 17.2% in 2021. The year-on-year growth rates over the last two years were -1.99% in 2022 and 3.35% in 2023.
Looking at the future from 2024 to 2028, the number of self-employed individuals in this sector is expected to continue growing, albeit at a slower pace. The forecasted 5-year CAGR is 1.33%, indicating a more modest growth trajectory than in recent years. This forecasted growth rate aligns with the observed 6.84% overall growth during the same period.
Future trends to watch for include the impact of evolving digital marketing practices, the infusion of AI technology in market research, and shifts in freelance and gig economy dynamics which could influence the number and nature of self-employed roles in this industry.
