To prepare this list, we used company websites as a source, ranking each Canadian information technology company based on company revenue, profit, assets and employees. Let’s take a look at emerging companies in the software and information technology industries in Canada.
In this article, we are going to list the top 4 Canadian information technology companies to watch in 2022.
The world is changing at a rapid pace, with countries across the globe advancing in the software and information technology market. Using software products to accomplish daily tasks such as getting up early in the morning or tracking your meal calories has become much more common than before. In fact, for some, it has become almost indispensable. We rely on tools and applications developed by software companies from the moment we wake up until the moment we sleep.
Therefore, the success of software companies and the burgeoning software industry should come as no surprise. According to data collected by Statista, software market revenue is expected to reach over $580 billion in 2021. By 2025, this figure is expected to increase further, generating revenue of over $700 billion. Industry areas such as cloud services, big data, and Internet of Things are also expected to be among the hot areas of the software industry in the coming years.
Software itself is a broad term, encompassing many different products designed for different tasks. There are two main categories of software, namely system software and application software. System software is a computer program designed to function as a platform for other software, while supporting the hardware and internal functions of the computer. Examples of system software are operating systems, such as Microsoft’s Windows (NASDAQ: MSFT) and Apple’s IOS (NASDAQ: AAPL), or utility software, such as McAfee Antivirus by McAfee (NASDAQ: MCFE). Application software, on the other hand, is software designed to help users perform specific tasks. Most people know them as “apps” that can be downloaded to cell phones or desktop computers. Examples of recognizable application software are web browsers such as Google Chrome by Alphabet Inc. (NASDAQ: GOOG) and the Adobe Photoshop image editor by Adobe Inc (NASDAQ: ADBE).
While it is true that the software industry is dominated by American companies, in recent years Canadian companies have also started to make their mark in this sector, making it one of the leading countries for the software development and information technology management. According to globalnewswire.com, the Canadian market is expected to grow by 7.2% over the period 2020-2027. The Toronto-Waterloo corridor is even called Canada’s Silicon Valley, with the second highest density of tech startups in the world.
This brings us to our list of the largest Canadian software and information technology companies. Each of the companies listed on our list is a leading force in its industry, providing different services and solutions. To prepare their rankings, we used company websites as a source, ranking each Canadian software company based on company revenue, profit, assets and employees. Let’s take a look at emerging companies in Canada’s software and information technology industries:
4. Martello Technologies
Revenue in 2019 (in millions of dollars): 10.9
Number of employees: 90
Martello Technologies was founded in 1981 and is headquartered in Ottawa, Canada. The company provides digital experience monitoring (DEM) and fault and performance management solutions to optimize real-time application performance for enterprises. According to their website, the company’s services are deployed in over 5,000 networks reaching over 175 countries around the world. It was also ranked on the list of Canada’s fastest growing companies for 2020.
Revenue in 2021 (in millions of dollars): 22.8
Number of employees: 32
TechTactonics was founded in 2011 and is headquartered in Toronto, Canada. A relative newcomer to the IT industry, but since coming onto the scene, it has really proven itself over the past decade. TechTactonics is revolutionizing business IT management and support. They are synonymous with reliable and forward-thinking computing, so that their customers can be more successful. With over 40 years of combined experience, TechTactonics can provide the IT management needed to take any business to the next level. In 2022, it is critical. Not only will a good IT system keep your data safe and your business running smoothly, but it can also improve your overall efficiency by up to 30%. This company will deliver. A company that stands out in the field with a customer retention rate of 94% over the last decade.
Turnover in 2019 (in millions of dollars): 30.5
Number of employees: 200
Ranked as the second fastest growing software company in Canada, Jobber has achieved substantial success in a short time. Launched in 2011, Jobber now serves 70,000 active clients in 43 different countries around the world. As the name suggests, Jobber sells its software as a service to those looking to open or currently running a small business. The app includes several services such as billing, scheduling, credit card processing, and business financing. CEO Sam Pillar claims to use his own software to this day to help him run the business as well.
1. Magnitude Simba Technologies
Revenue in 2020 (in millions of dollars): 42
Number of employees: 171
The 4th entry on our list of the largest Canadian software companies is Simba Technologies. Offer services such as integration services, OEM development, and product certification and testing. The company is best known for its software development services for Linux, Windows, and UNIX, among other platforms.
Thanks for taking the time to review this comprehensive list of 4 information technology and software companies to watch in 2022.