TECH SUPPLIER Nov 2021 - Market Forecast - Doc # CA47050121
Canadian ICT Forecast, 2021–2025
By: Anu MehtaSenior Research Analyst, Canadian IT Markets, Jason BremnerResearch Vice President, Industry and Business Solutions, April (Jixue) ZhangAssociate Research Analyst, Market Insights & Analytics, Tony OlvetGroup Vice President, Research
This IDC study outlines IDC Canada's forecast for the Canadian information and communication technology (ICT) market for the 2021–2025 period. It updates our previous forecast published in Canadian ICT Forecast, 2020–2024 (IDC #CA45058320, December 2020).
"The Canadian ICT market grew 1.3% in 2020, despite the COVID-19 pandemic. The growth was more than predicted in our previous forecast, led by strong spending on hardware and software services by Canadian companies that quickly responded to the challenges the pandemic brought. Overall, returning to 2019 spending levels will not occur until 2022 end, although many sectors such as ICT may recover earlier. The Canadian ICT market is expected to grow through 2025. By 2025, at the end of our current forecast period, ICT spending will reach C$132.6 billion. This growth will be dominated by areas such as cloud computing, core business applications, security, and customer experience at the forefront. The focus will remain on cloud, cybersecurity, digital transformation (DX), emergence of mainstream artificial intelligence (AI), automation solutions, and increasingly new 5G services, edge computing, and Internet of Things (IoT), making the Canadian market look very different than it does today with vendors pursuing the expanded market opportunity in adjacent segments," says Anu Mehta, senior research analyst, Canadian IT Markets at IDC Canada.
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