Recently published research from Business Monitor International, "Canada Information Technology Report Q2 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 05/21/2014 -- Canada is a highly developed IT market with widespread adoption of products and solutions in the consumer, public and enterprise segments. The maturity of the market means growth rates will significantly underperform emerging markets, but in terms of spending per capita Canada will continue to be one of the most lucrative markets globally.
We expect Canada's IT market to report moderate overall growth in 2014, and forecast a CAGR of 3% 2014-2018. Premium consumer hardware will remain a growth area, while we also expect enterprise adoption of cloud computing, real-time software and services and big data analytics to accelerate.
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Headline Expenditure Projections:
- Computer hardware sales: CAD15.4bn in 2013 to CAD15.6bn in 2014, an increase of 1.4%. Demand for tablets is strong, particularly Apple's iPad, but with the tablet market approaching saturation we expect growth to slow from 2014.
- Software sales: CAD9.3bn in 2013 to CAD9.5bn in 2014, an increase of 2.7%. There is enterprise software growth potential. However, public-sector deficits will require vendors to provide a clear cost benefit if they are to secure sales growth.
- IT Services sales: CAD21.4bn in 2013 to CAD21.9bn in 2014, an increase of 2.6%. Emerging technologies such as real time enterprise services and data analytics are growing segment of the market, while cloud computing adoption is widening.
Key Trends And Developments
Cisco Systems is set to become a major local IT firm after announcing in December 2013 that its subsidiary Cisco Canada plans to invest up to CAD4bn (US$3.77bn) and generate employment opportunities in Ontario. Subsequently in March 2014 Cisco Canada announced it had selected Toronto as the site for one of four global Cisco Internet of Everything (IoE) Innovation Centres. This centre represents an investment of US$100mn in design and infrastructure, technology, staffing as well as operational costs for a period of 10 years. BMI believes the investment will strengthen Canada's position in emerging technologies around the IoE, and give Cisco greater access to major contracts in Canada's domestic market.
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