After a banner year in 2006 the information and communications technology (ICT) market in Canada is poised for continued growth in 2007 – to $78.2 billion, a 4.5 per cent ($3.3B) increase over 2006, according to a series of detailed forecast reports soon to be released by IDC Canada.
The annual compound growth rate over the period of 2007 to 2011 is forecast to average just over four per cent, resulting in total ICT spending of more than $425 billion over the next five years in Canada.
Vito Mabrucco, managing director of IDC Canada, said the ICT industry is a symbiotic environment of buyers and providers that continues to have very good growth prospects. Engaging at the right level, with the right rewards, improves the prospects of success for all industry stakeholders. This interdependence is increasingly valuable and important in successfully addressing the need for improved productivity, business innovation, and the relentless global and local competitive environment.
Canadian buyers of ICT are benefiting from the strength and stability of the economic environment allowing them to make long-term investments to improve competitiveness and efficiency in their organizations. They should also consider how they leverage ICT providers’ knowledge and expertise to help ensure successful ICT implementations.