TECH SUPPLIER Jan 2023 - Market Forecast - Doc # CA48464022
Canadian ICT Forecast, 2022–2026
Abstract
This IDC study outlines IDC Canada's forecast for the Canadian information and communication technology (ICT) market for the 2022–2026 period. It updates our previous forecast published in Canadian ICT Forecast, 2021–2025 (IDC #CA47050121, November 2021).
"The Canadian ICT market grew 3.5% in 2021, despite the COVID-19 pandemic. The growth was more than predicted in our previous forecast, led by strong spending on software services by Canadian companies that quickly responded to the challenges that the pandemic brought. The Canadian ICT market is expected to grow through 2026. By 2026, at the end of our current forecast period, ICT spending will reach C$142.6 billion. Inflation, IT supply chain issues, skills shortage, and a probable recession will alter cost assumptions but IT leaders around the world are still more optimistic about increasing ICT budgets rather than delaying technology investments," says Anu Mehta, senior research analyst, IT Markets at IDC Canada.
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