Recent events have had a major impact on work and industry in Canada, including the evolution of work from home, the expansion of virtual services and how we do business post-pandemic. But what trends are here to stay, and which sectors remain in high demand?
If you’re considering a new job, starting a new business or are just curious to know, the following industries have been booming and are expected to remain successful for years to come.
Software/ICT
It’s no surprise that the demand for information and communications technology (ICT), and specifically software, continues to accelerate.
Growing needs in enterprise, cloud services, security, online retail, healthcare, finance, logistics, and meaner that new software solutions can’t be written fast enough. Businesses are also looking to artificial intelligence (AI) to anticipate and troubleshoot challenges before they happen and predict and serve customer shopping habits, among other applications.
The continuing trend of app development for businesses small and large, the need for more powerful devices and tech support for the programs and hardware they run, and the reliance on video conferencing as more people than ever work from home will all contribute to increasing the 52% of Canadian businesses that plan to invest in software, intellectual property (IP) protection, R&D and other assets provided by Canada’s ICT sector.
E-Commerce
While the need to shop, buy homes and play live casino games online with prizes you can claim now was certainly boosted by the pandemic, Canada’s e-commerce sector has reached approximately 10% year over year growth in recent years and is expected to reach $79.8 billion in 2022 and $104 billion by 2025.
Online retail sales are fast outpacing in-store purchases and have made significant gains in other segments, including food & beverage, fashion, electronics, toys and financial services, among others.
Financial Services
Financial services are another stalwart industry poised for big gains in the near future. E-payment providers, automation services and cloud-based accounting are among the in-demand services as more Canadians become small business owners, freelancers and self-employed workers. But one of the fastest-growing financial segments is cryptocurrency.
Canadian consumers, banks and businesses have been relatively quick to adopt blockchain technology to provide safe, secure and transparent cryptocurrency transactions as thousands of computers are used to verify encrypted transactions and ensure the security and integrity of financial records.
Look for further expansion as cryptocurrencies become easier, faster and more convenient to convert as they are accepted by major chains.
Healthcare
There will always be a demand for healthcare workers at all levels, but the marriage of tech and medicine and the need for social distancing have also made for interesting new developments in the healthcare field, including:
- Telemedicine and online consultations.
- Disease-detecting artificial intelligence.
- Logistical software to address staffing shortages – especially in long-term care facilities.
- Self-serve pharmacy apps.
These solutions have become indispensable in the relatively short time they’ve been around, and it’s anticipated that new healthcare technologies will continue to emerge in direct correlation with advances in technology because of the crucial need for solutions to the many challenges faced by the healthcare sector.
