Trends Report

The Canadian Tech Market 2012 To 2013

Economic Worries Lead Canadian CIOs To Cut Back ICT Purchases

August 2nd, 2012
With contributors:
Christopher Mines , Brownlee Thomas, Ph.D. , Michael Yamnitsky , Joanna Clark

Summary

Canada's CIOs and tech buyers are behaving as if Canada is heading for a recession — and it's not. Indeed, while the Canadian economy is growing at about the same 4% rate (at current prices) as the US economy, Canadian tech purchases are growing much more slowly (2.4% in 2012) than Canadian nominal GDP. Jitters about up-and-down Canadian growth and the problems of Research In Motion (RIM); risks to growth in export markets in the US, Europe, and Asia; and a federal government austerity program are to blame for the weak Canadian tech market. But Canadian CIOs need to get past these fears and step up their tech buying in 2012 and 2013 or risk falling further behind US firms.

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