Covid-19 Fears Grow While Canada Wants To Dominate The Tech Industry

Covid-19 Fears Grow While Canada Wants To Dominate The Tech Industry

There is a big fear of covid-19
and people are staying home while economies shrunk. Canada has another scenario
and wants to invest more in industries that can lead the economy to another
level in the next few years.

Despite news of Toronto’s
continued rise as Canada’s top tech city, smaller tech markets should not go
unnoticed as they too are advancing due to rising demands for tech talent all
over the country. Real estate firm CBRE Canada points out in a report that
while there is considerable growth in
Toronto’s talent pool, smaller tech cities are also
showing substantial gains due to Canada’s booming industry.

Tech Industry Set to Grow in Canada

The demand for talent goes beyond
the well-known Canadian tech cities. Competitions over skilled workers are
reaching areas that are mostly overlooked by tech companies. According to CBRE
Canada Vice Chairman, Paul Morasutti, both startups, and established firms
within the tech scene are realizing the there remains a significant amount of
untapped tech workers all over the country.

Utilizing smaller and mid-sized
markets mean lower housing prices for tech workers, compared to rates of those
in Toronto or Vancouver. Now, companies don’t prioritize office costs when
expanding to Canada, what matters to them is attracting the best talent, even
it means sourcing from outside big and well-known tech cities.

Before the outbreak of covid-19,
Canada was one of the pioneer in many tech sub-industry. For instance, Canada
was first to accept facial recognition systems through online platforms and let
the users be in safe hands. Before attempting to a serious decision, Canada
wants to have a safe tech eco-system. Canada’s government became friendly to many
online companies, including video and online gaming. iGaming industry was first
to feel the liberal approach of the government. Trudeau’s team has created a
perfect ecosystem for online casino companies to grow and flourish while
dominating the world market. The government allowed online casinos to use as
many financial technologies as possible to have consumer’s satisfaction.
Actually, every fintech innovation leads to consumer satisfaction and safety.
At the same time, Canadian casino was allowed to have all types of casino
offers. Worldwide competitors are limited to particular games, such as slot,
roulette, poker, etc. Canadian casinos have been granted with right decision
and now casinos offer a wide range of games. Because of that decision, roulette in Canada
can be played on the same platform that offers poker and online slot machines.
Getting friendly with the tech industry was the main goal of the Canadian
government from 2016. Covid-19 fears grow but Trudeau does not want to lock the
economy, he wants to make more out the current situation. That’s why the tech
industry is growing every month of 2020.

Digital Charter is the Big Help for the Tech Industry

Everything that the Digital Charter
stands for is bound to strengthen Canada’s tech industry. It’s ten principles
all cover aspects that can protect Canadian businesses, tech workers, skilled
immigrants, consumers, investors, and other key stakeholders.

The Charter’s healthy regard for
equal opportunity in giving the nation tools to access the digital world means
the Canadian Government supports the tech industry in creating technological
innovations that could improve the lives of every individual. With the tech
industry’s vast scope, the Digital Charter will serve as a blanket that would
protect the tech industry from security threats, instability, inequalities, and
economic challenges.

Efficient and effective implementation
of the Digital Charter
concerning the tech industry’s most imminent needs will ensure
that it’s foundations are reinforced, making them stable enough to take on the
demands of a rapidly changing tech landscape.

What Industries Will Be Booming in the Current Decade

A report released by research
company IBISWorld reveals the top 10 fastest growing companies in Canada based
on revenue include the following: Cannabis Production, Electric Power
Transmission in Canada, Corn Farming, Billboard and Sign Manufacturing,
Commerce and Online Auctions, Gold and Silver Ore Mining, Physical Therapy,
Margarine and Cooking Oil Processing, Dating Services, etc.

However, when it comes to tech,
sectors bound to experience the most growth are those related to the Internet
of Things, virtual reality, artificial intelligence, and big data. Known by all
as the pillars of today’s tech scene, these innovations make it possible for
different sectors to thrive and expand even more. As a result, here are the
most successful tech sectors of the decade, based on a study conducted by
global trading brand RS Components:

1. On-demand 2. E-commerce 3.
Fintech 4. Internet Software and Services 5. Big Data 6. Social Networking 7.
Digital Media 8. Consumer Electronics 9. Auto Tech 10. Cybersecurity

The on-demand sector, mostly
comprised of popular online platforms, offers goods and services to clients.
These include companies such as Gett, Uber, Lyft, Grab Taxi, among others. This
sector has a current valuation of almost $180 billion.