Canada ICT Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada ICT Market Analysis
The Canada ICT Market is expected to register a CAGR of 7% during the forecast period(2024-2029).
- According to StatCan, In 2023/24, it is expected that the federal government of Canada will spend around CAD 15.07 billion (USD 11.67 billion) on scientific and technological activities. This increased from 2000/01 when the Canadian government spent CAD 6.39 billion (USD 4.72 billion) on scientific and technological activities. Further, The Canadian federal government released budget 2023 at the end of March, and new clean technology tax credit programs came with it. The budget outlined a USD 83 billion allocation for the new clean tech programs over the next decade.
- •In the October 2023 edition of Open Access Government provided necessary background about Budget 2018, where new investments of almost USD 4 billion in five years support Canada’s next generation of researchers and scientists. Speeding up drug discovery With this background of budgets for research funding, let’s find out what the Government of Canada has highlighted in the field lately. For example, the government is committed to promoting innovative technologies and approaches to speed up drug discovery and create new drugs and effective therapies for Canadians. Investment through the Strategic Innovation Fund to create the Conscience Open Science Drug Discovery Network seeks to fill drug and therapeutics development gaps. This is especially the case regarding traditional market failures, such as antivirals for pandemic readiness, antimicrobial resistance drugs, and rare and pediatric drugs.
- Moreover, in March 2023, the federal government’s proposed budget includes over USD 61 million for fighting foreign interference, hazards, and covert activities to combat online activity. The proposed budget gives Public Safety Canada USD 13.5 million over five years, starting in 2023-24, and then USD 3.1 million yearly to establish a National Counter-Foreign Interference Office. The budget also proposes giving the RCMP USD 48.9 million over three years, starting this fiscal year, to protect Canadians from harassment and intimidation, improve its investigative capacity, and more proactively encounter communities at greater risk of being targeted.
- Further, 5G technology is expected to drive industry digitalization, create new value across industries and society, and have a direct economic effect on the ICT sector. 5G technology can also fuse 5G networks with advanced solutions like augmented reality, Internet of Things (IoT), and Artificial Intelligence (AI). To capture the benefits of 5G players in the region are new 5G services. For instance, According to GSMA, In 2025, 5G connections are forecast to account for 49% percent of all mobile connections in Canada. All telecommunication providers have been rolling out 5G networks nationwide to offer better network services to their clients and maximize such technology's potential.
- On the flip side, Artificial Intelligence (AI) presents one of the most promising and potentially transformative opportunities for the life sciences industry. AI would be a key investment target in the coming years, with myriad organizations hoping to capitalize on its potential. The number of applications is expected to continue to increase, and investors are expected to enter the AI industry early. However, at the start-up stage, AI investment can pose a risk to a company's growth. Huge cash injections are required to launch robust AI products off the ground, and it is not a sector that can be monetized either very quickly or easily. Often, these products require R&D teams and specialist engineers in machine learning, which would come at a cost.
- The COVID-19 pandemic caused economic disruptions across the country. The closure of several production facilities, plants, manufacturing, and other industries. The COVID-19 pandemic has led the government and organizations to invest more in technologies such as AI, IoT, Big Data, and more, as they have become more beneficial for the diagnosis of viruses and treatment, to mitigate the risk of economic crisis, etc. However, digital technology and connectivity have become essential during the pandemic, mainly in work-from-home scenarios.
Canada ICT Market Trends
5G Application at the Peak
- Canada is a pioneer in wireless technology. Although the wireless industry dynamics are constantly changing, the introduction of Fifth Generation (5G) networks in Canada is at a tremendously advanced stage. According to a new Accenture report, once 5G is adopted in use cases, cities and rural regions across Canada would gain greatly in terms of quality of life and economy, demonstrating the potential impact it might have on the country with the correct support.
- IoT and 5G are closely related. The internet of things would move at a speed that can only be achieved with 5G. Canada already has mobile internet surfing, various data-driven services, high-bandwidth streaming (YouTube, Spotify, Netflix, etc.), and much more due to 3G and 4G deployments. These items might be regarded as revolutionary when they are made feasible. But the advent of 5G would usher in a transformation affecting nearly every aspect of everyday lives.
- Though the country's population is spread across vast territories, Canada's facilities-based carriers have established one of the world's fastest and most reliable wireless networks, serving every province and territory. According to the independent network analyst Opensignal, Canada is a "4G powerhouse" and is in a superior position to construct future 5G networks than other nations. A CWTA assessment claims that the country could accommodate a 1,000-fold increase in traffic from 2020 to 2030 with the complete rollout of 5G. The amount of energy used shall also be reduced by half from its current level.
- Using cutting-edge 5 G-enabled technology would help other companies reduce their carbon impact. According to a study commissioned by the CWTA , the use of mobile technologies, including 5G, across industries is expected to help Canada achieve up to 23% of its 2030 emission reduction objectives. Furthermore, according to the CWTA, Canadian MNOs could cut their carbon emissions by up to 10 million tons between 2020 and 2030 if 5G is adopted quickly. This notable decline would be caused by greater data efficiency per unit of data transferred that underpins 5G networks.
- 5G systems are already being introduced in areas other than telecommunications networks. Stadiums and factories are already getting their 5G infrastructure in Canada. Retail, network and traffic management are just a few areas where 5G could facilitate improvements, with technologies like driverless vehicles, smart cities, and the internet of things are feasible and normal. These changes would be driven by cutting-edge networks, offering the data capacity, speed, and responsiveness required to link billions of objects.
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Rise of Information & Digital Technology and E-commerce
- The Canadian IT sector has expanded twice as quickly as the rest of the economy in the last ten years. Especially the COVID-19 outbreak has brought attention to how useful digital technology is for Canadian companies. Since the pandemic's start, virtual rather than in-person interactions have become more common in work and business. For many organizations, this has persisted into last year as the pandemic highlighted the necessity of adopting digital technology to adjust to new circumstances.
- Additionally, the pandemic's transition towards greater use of digital technology may have permanently altered certain firms. In the second quarter of 2021, the Canadian Survey on Business Conditions (CSBC) found that 19% of enterprises expected always to enhance their online sales capacity once the pandemic was over. As per the Statistics Canada article, e-commerce sales for Canadian companies with five or more employees were USD 398 billion in 2021, an increase of over 30% over the 305 billion dollars made in 2019 (the year before the pandemic started).
- The pandemic has highlighted the necessity of using digital technology beyond e-commerce. As per the Canadian government statistics, compared to 2019, more Canadian enterprises utilized information and communication technology (ICT) in 2021 (85%). Company-wide computer networks (53%) were among the most popular technologies, followed by software tailored to a particular industry (46%) and smart gadgets with Internet access (22%).
- Last year, an overwhelming majority of Canadian firms (89%) had at least one form of digital presence, a little improvement over 2019 (85%). Social media accounts (61%), business websites (78%), and email marketing (19%) are examples of these digital presences. Three out of every five firms (59%) that had a website also had a mobile-friendly one. Canadian firms spent almost USD 6.5 billion on internet ads in 2021, according to SDTIU's inaugural measurement. While it is impossible to directly compare overall advertising expenditures between 2021 and 2019, more Canadian firms reported using paid web advertising in 2021 (24%) than in 2019 (23%).
Canada ICT Industry Overview
The Canadian ICT market is fragmented as the market currently consists of many players. Several key players in the ICT market are in constant efforts to bring advancements. A few prominent companies enter collaborations and expand their footprints in developing regions to consolidate their positions in the market. Major players in the region are Amazon Canada, Cognizant Technology Solutions, CGI Inc., Rogers Communications Inc., Cisco Systems Canada Co., and others.
- In October 2023- BlackBerry Limited announced that the Government of Canada has expanded its partnership with BlackBerry with a multi-year agreement that will serve Government of Canada federal employees. The contract is signed by Shared Services Canada (SSC), which is responsible for delivering modern, secure, and reliable digital IT services for the Government of Canada to meet Canadians' needs. The expanded partnership with BlackBerry now gives the Government of Canada a bespoke BlackBerry Cloud. It extends and expands its use of BlackBerryUEM, BlackBerry UEM Dark Site, and BlackBerry SecuSUITE to enable the daily operations of departments and agencies across the government reliably and securely.
Canada ICT Market Leaders
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Amazon.com.CA, Inc.
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Cisco Systems Canada Co
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CGI Inc.
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BCE Inc.
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Rogers Communications Inc.
*Disclaimer: Major Players sorted in no particular order
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Canada ICT Market News
- In October 2023, CyberCatch Holdings, Inc. launched a cutting-edge compliance assessment solution, the Digital Standards Manager, designed to help organizations effectively manage and implement digital technology governance standards. This latest product launch expands on the partnership with Canada's Digital Governance Council. It provides organizations with a comprehensive online tool for evaluating, monitoring and ensuring compliance with standards published by the Council's Digital Governance Standards Institute.
- In July 2023, Alletec, a Microsoft Business Applications and Azure partner, is strengthening its Canadian operations by partnering with Frux Technologies. This powerful synergy combines Alletec's deep expertise in Consulting and solutions with Microsoft Business Applications & Azure for Digital Transformation. This partnership will tremendously benefit the Canadian businesses looking to leverage the Microsoft stack of Dynamics 365 Applications, Power Platform, Microsoft 365 and the Azure Cloud for Business Applications, Cloud enablement, Modern Workplace, Collaboration, Data Analytics, and AI to succeed with their digital transformation initiatives.
Canada ICT Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Market Definition and Scope
- 1.2 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Stakeholder Analysis
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4.3 Industry Attractiveness-Porter's Five Force Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Consistent Digital Transformation Initiatives
- 5.1.2 Robust Spending on Hardware and Software Services
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5.2 Market Restrain
- 5.2.1 Concerns on the Supply of ICT Workers
- 5.3 Impact of COVID-19 on IT Spending
6. KEY TECHNOLOGY INVESTMENTS
- 6.1 Cloud Technology
- 6.2 Artificial Intelligence
- 6.3 Cyber Security
- 6.4 Digital Services
7. MARKET SEGMENTATION
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7.1 By Type
- 7.1.1 Hardware
- 7.1.2 Software
- 7.1.3 IT Services
- 7.1.4 Telecommunication Services
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7.2 By Size of Enterprise
- 7.2.1 Small and Medium Enterprises
- 7.2.2 Large Enterprises
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7.3 By Industry Vertical
- 7.3.1 BFSI
- 7.3.2 IT and Telecom
- 7.3.3 Government
- 7.3.4 Retail and E-commerce
- 7.3.5 Manufacturing
- 7.3.6 Energy and Utilities
- 7.3.7 Other Industry Verticals
8. COMPETITIVE LANDSCAPE
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8.1 Company Profiles
- 8.1.1 Amazon.com.CA, Inc.
- 8.1.2 Cognizant Technology Solutions Canada, Inc
- 8.1.3 Salesforce Canada
- 8.1.4 Cisco Systems Canada Co.
- 8.1.5 CGI Inc.
- 8.1.6 Constellation Software Inc.
- 8.1.7 OpenText Corporation
- 8.1.8 The Descartes Systems Group Inc.
- 8.1.9 Rogers Communications Inc.
- 8.1.10 BCE Inc.
- 8.1.11 Telus Communications Inc.
- 8.1.12 Shaw Communications Inc.
- 8.1.13 Videotron
- 8.1.14 Saskatchewan Telecommunications Holding Corporation
- 8.1.15 MeloTel Inc.
- 8.1.16 Quebecor Inc.
- *List Not Exhaustive
9. INVESTMENT ANALYSIS
10. FUTURE OF THE MARKET
** Subject To Availablity**Subject to Availability
Canada ICT Industry Segmentation
Information and Communication Technologies or ICT is a broader term for Information Technology (IT). It refers to all communication technologies, such as wireless networks, the internet, computers, cell phones, software, videoconferencing, middleware, social networking, and other media applications and services enabling users to store, access, transmit, retrieve, and manipulate information in a digital form.
The Canadian ICT market is segmented by type (hardware, software, IT services, and telecommunication services), by the size of the enterprise (small and medium enterprise and large enterprise), by industry vertical (BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | Hardware |
| Software | |
| IT Services | |
| Telecommunication Services | |
| By Size of Enterprise | Small and Medium Enterprises |
| Large Enterprises | |
| By Industry Vertical | BFSI |
| IT and Telecom | |
| Government | |
| Retail and E-commerce | |
| Manufacturing | |
| Energy and Utilities | |
| Other Industry Verticals |
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Canada ICT Market Research Faqs
What is the current Canada ICT Market size?
The Canada ICT Market is projected to register a CAGR of 7% during the forecast period (2024-2029)
Who are the key players in Canada ICT Market?
Amazon.com.CA, Inc., Cisco Systems Canada Co, CGI Inc., BCE Inc. and Rogers Communications Inc. are the major companies operating in the Canada ICT Market.
What years does this Canada ICT Market cover?
The report covers the Canada ICT Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Canada ICT Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Canada ICT Industry Report
Statistics for the 2024 Canada ICT market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada ICT analysis includes a market forecast outlook to for 2024 to 2029) and historical overview. Get a sample of this industry analysis as a free report PDF download.
Canada ICT Market Report Snapshots
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