IDC Canada Predicts Top 10 Tech Market Trends to Transform Enterprises in 2022 and Healthy Growth in the Canadian ICT Market Expected to Reach C$132.6 Billion by 2025
Toronto, ON – International Data Corporation (IDC) Canada recently unveiled its technology industry predictions for 2022 and its latest release of the Canadian ICT Forecast, 2021–2025 which forecasts the Canadian information and communication technology (ICT) market spending to reach C$132.6 billion by 2025, with growth dominated in the areas of cloud computing, core business applications, security, and customer experience.
This year’s predictions were underscored by the conditions brought on by ongoing health, social and economic disruptions, which continue accelerating digital transformation, bringing Canadian organizations closer to their digital-first destiny. Navigating what’s ahead will be critical as organizations advance digital transformation strategies to remain competitive. “Canadian IT and business leaders have told us that they are shifting their investments to more digital technologies. These investments along with greater adoption of as-a-service delivery models will be needed to support diverse customer engagement and data-driven operations.” said IDC Canada’s Group VP, Research, Tony Olvet
“After a long pandemic that disrupted markets and crippled economies, vaccinations brought us new hope during the first half of the year. In the second half, rising vaccination rates and easing health restrictions, along with supportive monetary and fiscal policies, enabled the economy to embark on a journey of recovery. Moving into 2022, we expect the recovery to continue with a robust GDP growth rate of 4.1%, and the Canadian IT market growing about 5%,” said IDC Canada’s Managing Director, Lars Goransson, “However, the growth is not without some challenges. Supply chain disruptions and energy constraints will continue, and new variants of Covid-19 will remain a cause for concern.”
IDC Canada’s top ten Canadian tech market predictions for 2022 are:
- Prediction 1: In 2022, Innovation Accelerators technologies spending growth will be 3 times GDP growth rate in Canada.
- Prediction 2: By 2024, digital-first enterprises will enable empathetic customer experiences and resilient operating models by shifting 60% of all tech and services spending to as-a-service and outcomes-centric models.
- Prediction 3: By 2023, 50% of Canadian organizations will adopt cross-technology ecosystems/platforms for rapid consumption and to unify Security capabilities for enhanced threat detection and incident response.
- Prediction 4: By 2024, 80% of enterprise CIOs will engage consultants to accelerate their cloud maturity and enable them to better compete with peers.
- Prediction 5: By 2024, 40% of Canadian enterprises will create sourcing offices to govern services relationships to acquire capabilities and drive innovation at scale.
- Prediction 6: By 2025, 60% of Canadian enterprises will fund LOB and IT projects primarily through OpEx budgets.
- Prediction 7: By 2025, 60% of Canadian large enterprises will have deployed AI/ML for business and/or IT observability.
- Prediction 8: To help alleviate the developer skills shortage, 40% of Canadian organizations will use cloud marketplaces and tech start-up acquisitions as their most important approaches to software sourcing by 2024.
- Prediction 9: By 2025, while a portion of the Canadian workforce will be back in the office, IDC predicts the share of workers working from home will be twice as large as what it was pre-pandemic.
- Prediction 10: By 2023, 45% of the FP500 companies and government organizations will have begun to embed environmental sustainability parameters in their business KPIs.