In 2023, the number of employees in the advertising and market research sectors in Canada stood at 57.06 units. From 2013 to 2023, the sector experienced fluctuation with years of growth and decline. Notably, the sector has shown marginal growth over the last decade, with a 2023 year-on-year increase of 0.9%, reflecting a stable upward trajectory. Examining the most recent five-year period from 2018 to 2023, the compound annual growth rate (CAGR) was around 1.17%, indicative of modest but consistent growth.
Looking ahead, the sector is projected to continue its gradual ascent, with the number of employees forecasted to reach 59.47 units by 2028. The forecasted five-year CAGR from 2024 to 2028 stands at 0.65%, with an overall growth rate of 3.31% during this period.
Future trends to watch for include the increasing integration of digital technologies and data analytics, which could drive demand for more specialized skills within the workforce. Additionally, the adaptation to evolving global marketing trends and consumer behavior shifts will likely influence employment numbers in this industry.