Precise Overview on ICT Investment Trends in Canada with Key Facts and Growing Enterprises Strategies

Canada's information and communications technology (ICT) sector is an important part of the Canadian economy. As the global economy becomes gradually digital, demand for digital products and services will grow, including in areas of Canadian strength. At present, there are various business and IT objectives which the Canadian enterprises are aiming to achieve through their IT investment strategies. Considering this, Market Research Hub (MRH) has broadcasted a new study to its wide repository, with the title of “ICT Investment Trends in Canada: Digital transformation and disruption will impact ICT investment strategies”. This study presents the findings from a survey of 104 Canadian enterprises regarding their Information & Communications Technology investment trends.

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The research finds that Canada has hard strengths in communications technologies including (wireless and wired equipment, fibre optics & communications software), new media (e-gaming, animation and special effects) and microelectronics. Other areas of potential technology and market opportunity for the ICT sector include cloud computing, microsystems, e-health applications and software as a service (SaaS). The Internet of Things is a recent trend that is driving Canada’s information and communications technologies sector. The Organization of Economic Co-operation and Development (OECD) anticipates the Canadian economy to grow by 2.4% in 2017 and expects to expand by 2.2% in 2018. This is mainly due to the growing need among Canadian enterprises to reduce their cost of ownership of software, together with the advantages of scalability and on-demand pricing is driving the adoption of SaaS.

Initially, the study provides a brief overview of trends in ICT investment in the business sector for Canada, focusing on developments and digital transformation that will impact the investment strategies. The survey investigates how Canadian enterprises currently distribute their ICT budgets across the central areas of enterprise ICT expenditure: hardware, software, IT services, communications and consulting.

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Moreover, the research illustrates the core technologies that enterprises are investing in, including IoT, mobility management, business intelligence and cloud computing. As per the findings, enterprises are looking to increase their total ICT budget in 2017, as the Canadian economy has been witnessing stable economic growth and the ongoing expansion in the technological areas will provide much-needed push to the digital transformation of the economy. The research further analyzes that ‘customer satisfaction’ is the most important business objective influencing IT investment strategy among Canadian enterprises.

Later, the report aims to provide a better insight to ICT vendors and service providers in Canada along with enterprises distribution of their ICT budget across various segments within a technology category. Companies mentioned in this study are Apple Inc., Cisco Systems Inc., EMC Corporation, Bell Canada, Hewlett Packard Enterprise Company, Dell Technologies Inc., Google Inc., Oracle Corporation, IBM, Microsoft Corporation and SAP SE.

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This release was published on openPR.