The Security and Investigation Services sector in Canada has shown a strong upward trend in its Gross Value Added (GVA) from 2013 to 2023, reaching $7.03 billion CAD in 2023. Between 2013 and 2023, the industry experienced moderate to high growth, with the most notable increases taking place in 2016 (9.52%), 2018 (6.47%), and 2020 (8.45%). The compound annual growth rate (CAGR) over the last five years leading to 2023 stands at 5.42%. Looking ahead, the industry is forecasted to grow at a CAGR of 3.28% until 2028, with an overall growth rate of 17.5% from 2023 to 2028.
Future trends to watch for include:
• Increasing adoption of advanced technology and AI in security services.
• Rise in cybersecurity demand due to growing digital transformations.
• Expansion into integrated and holistic security solutions.
• Growth in demand driven by heightened security concerns in various sectors.
