Report Format:
| Pages: 110+
Type: Parent Industry Monitor
| ID: CCT1512
| Publication: June 2024
|
US$745 |
Key factors driving the Canada cloud computing market advancement include the ability of cloud services to provide seamless data access from any device, the rise of Bring Your Own Device (BYOD) and mobile workforce trends, and the emergence of efficient connectivity infrastructure, including 5G networking technology. However, challenges such as a lack of resources and expertise, data privacy and security concerns, and stringent government regulations requiring data to be stored within Canadian territory are hindering the Canada cloud computing market development. Despite these obstacles, the market continues to evolve, reflecting the growing reliance on cloud solutions across industries.
Cloud computing technology is rapidly gaining momentum, with over 90% of organizations in Canada adopting cloud services due to their enhanced scalability, flexibility, and 24/7 accessibility from anywhere, at any time. This widespread adoption reflects a key Canada cloud computing market trend, driven by increasing internet penetration and faster connectivity speeds across the country. These factors are projected to further accelerate cloud adoption, supporting the expansion of cloud services infrastructure and fueling the growth of the Canada cloud computing market.
Major organizations leading this shift include those in the public sector, BFSI (Banking, Financial Services, and Insurance), healthcare, and retail sectors. The Government of Canada is actively leveraging cloud-based service delivery models to meet the growing demand for online services and improve user experiences, further propelling the Canada cloud computing market trend. Additionally, the ongoing transformation of IT infrastructure across these industries is enabling businesses to overcome challenges associated with delivering modern, technology-enabled services to customers.
The Canada cloud computing market competitive landscape is thriving, driven by government initiatives like the "Canada Cloud Policy" and major investments from global players. There have been observations regarding developments and trends in the Canada cloud computing industry given below.