TECH SUPPLIER Dec 2020 - Market Forecast - Doc # CA45058320

Canadian ICT Forecast, 2020–2024

By: Tony OlvetGroup Vice President, Research, Meng Cong, Nigel WallisResearch Vice President, IoT and Industries, Lawrence SurteesResearch Vice President, Communications

Abstract

This IDC study outlines IDC Canada's forecast for the Canadian information and communication technology (ICT) market for the 2020–2024 period. It updates our previous forecast published in Canadian ICT Forecast, 2019–2023 (IDC #CA43803519, September 2019).

"The Canadian ICT market grew a healthy 3.5% in 2019 as economic conditions and the continued shift to 3rd Platform technologies buoyed the market. However, the COVID-19 pandemic changed everything, turning the economy and the tech sector down a different path. As a result, Canadian ICT spending is expected to decline 1.8% in 2020. However, with the outlook for mass global and Canadian vaccination programs looking promising in the first half of 2021, IDC forecasts a return to growth. By 2024, the end of our current forecast period, ICT spending will reach C$122 billion. This will be dominated by cloud-enabled infrastructure and new digital services, as well as the emergence of mainstream AI, automation solutions, and 5G services, making the Canadian market look very different than it does today with vendors pursuing the expanded market opportunity in adjacent segments," says Tony Olvet, group vice president, Research at IDC Canada.


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