TECH SUPPLIER Dec 2021 - Market Presentation - Doc # CA47058721
COVID-19 Impact: Canadian Industry Overview, 2021
This IDC Market Presentation is a supporting document for Canadian IT Forecast, 2021–2025: By Vertical Market (IDC #CA46292221, December 2021). The document's goal is to show a curated selection of data trends to illustrate key economic, political, and social drivers and inhibitors that are impacting the ability of organizations in those sectors to purchase ICT solutions and products. While some of the data sets are proprietary to IDC such as IT market model forecasts and domestic IT decision-maker surveys, much of it has been extracted from a variety of reputable secondary sources, ranging from Statistics Canada to the OECD, IMF, World Bank, Baker Hughes, investor reports, and more.
"The first two years of COVID-19 saw remarkable divergence in spending by industry. Some sectors jumped into digital transformation (DX), while others were held back by social distancing, lockdowns, trade issues, commodity price declines, and low business confidence. We anticipate a rebound for multiple sectors, led by a resurgence from personal and consumer services, the digitization of financial services, and the transformation of infrastructure sectors including both communications and utilities," says Nigel Wallis, research VP, IoT and Industries, IDC Canada. "Vertical subsectors have different pain points, different business priorities, and different ICT objectives. Technology vendors need to align their holistic go to market, including product marketing, communications, lead generation, targeting, and messaging, to that specific niche industry audience in order to meaningfully differentiate their approach."