Forecast Report

The Canadian Tech Market Outlook For 2021 And 2022

A Mild Pandemic Recession Followed By A Good Economic Recovery Sets The Stage For 5% Growth In 2021 And 2022

October 8th, 2021
With contributors:
Matthew Guarini , Kara Wilson

Summary

Canada’s tech market weathered the 2020 pandemic recession with much less damage than we had feared: growth slowed to 1.6%, but there was no decline in tech spending. With the Canadian economy staging a solid recovery, we project purchases of tech goods and services by Canadian businesses and governments will increase by 4.9% in 2021 and 4.7% in 2022. Canadian tech executives should have sufficient budget room to pursue initiatives that use technology to improve business performance.

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