In 2023, employment in the ICT sector in Canada stood at 951.68 thousand persons. From 2013 to 2023, the sector exhibited significant growth, with a year-on-year percentage variation showing notable highs, such as a 20.47% jump in 2021 and steady rises like 4.79% in 2017. There was a brief dip in 2020 with a 3.65% decline, likely due to external economic factors, followed by a rapid recovery. The compound annual growth rate (CAGR) over the last five years (2019-2023) averaged 6.59%, indicating robust sector health.
Looking forward, the forecast from 2024 to 2028 predicts a continued upward trajectory with a 5-year CAGR of 4.72%, projecting the employment figure to rise to 1,280 thousand persons by 2028. This represents a total growth rate of 25.95% over the forecast period, reflecting sustained expansion.
Future trends to watch for include:
- Increased investment in digital infrastructure and technologies.
- Government policies favoring the digital economy.
- Growing demand for ICT professionals across various sectors.
- Continuous advancements in AI, cloud computing, and cybersecurity.
