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Canadian managed cloud services market to surpass C$3.9 billion by 2027

International Data Corporation (IDC) has released its latest forecast for the Canadian technology sector, outlining a projected increase in spending within the Canadian managed cloud services market. IDC predicts steady growth in this market despite economic challenges, highlighting Canada’s resilience and adaptability in the face of uncertainty. According to IDC’s projections, Canadian spending in managed cloud services is expected to grow from C$1.9 billion in 2022 to C$3.9 billion by 2027, reflecting a compound annual growth rate (CAGR) of 15.8% over the forecast period.

IDC’s forecast reflects the evolving landscape of IT services procurement. As managed services gain prominence, customers have access to a wider array of providers offering flexible solutions at competitive costs. The traditional model of application outsourcing is giving way to a more diversified and adaptable approach. Amidst these shifts, cloud adoption remains a driving force. IDC predicts growth in the application and infrastructure outsourcing services markets over the next five years, driven by factors such as the increasing adoption of software as a service (SaaS), rising spending due to application modernization efforts, and the transition to hybrid cloud environments.

Despite economic uncertainties and the ongoing shortage of skilled IT professionals, IDC’s forecast underscores the Canadian technology sector’s steady momentum. The projected modest growth in demand for application management (AM) services indicates the industry’s commitment to progress despite challenges. IDC

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