| 2009 Deloitte TMT Predictions |
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Page 1 of 2 “It was the best of times and the worst of times”. That was the theme of Deloitte’s Canadian Technology, Media & Telecommunications (TMT) Predictions in 2008. The ongoing global economic crisis has made the entire economy—including the TMT sector—focus almost exclusively on the “worst of times”, but the 2009 Canadian TMT predictions suggest this year’s theme will be “it may seem like the worst of times, but there are reasons to get excited”... Although the ongoing global economic crisis is projected to transform the Canadian technology, media and telecom (TMT) industries, there are still reasons for companies to get excited about the future—especially for those investing and rethinking their strategies. While the weak may not survive, the strong will be made stronger by the process. “During recessions, companies that follow bold strategies and make significant investment decisions are the ones that will come out on top when the economy recovers,” explained John Ruffolo, national leader, Technology, Media & Telecommunications Industry Group, Deloitte. “Companies that dare to spend, invest and rethink their strategies are the true innovators. They may enjoy benefits that are many times greater than what they invested as they act while others retrench.” The 2009 Canadian TMT Predictions identify some of the important trends that the current economic climate is fostering: new computing products, telecom handsets, software categories and media niche strategies that are likely to show positive revenue momentum and earnings, even in a weak economy. Some common themes also emerge: • Cheaper helps: At roughly half the price of notebooks, netbooks are rolling out in high gear with some predicting up to as many as 50 million units will be sold in 2009 - up from virtually none in 2007. • Free is better: Realizing cash-strapped consumers are not eager to spend on new devices and services, carriers and service providers are subsidizing or giving away smartphones, netbooks, televisions, PCs, routers and set-top boxes. • Sharing is good: Whether it is sharing common resources through virtualization, cloud computing or a mandated common fiber optic infrastructure, Deloitte expects to see more IT buyers spreading the buying decision across multiple users. “Although Canadian TMT companies are likely to benefit from the trends featured in Deloitte’s 2009 TMT Predictions, many of these companies will perform even better if they have the necessary support and funding from the government to go on to become global leaders,” explained Ruffolo. “They already have the right people and the right technology to thrive; all that is missing is the funding. Canadian venture capital financing continues to struggle and as Canadian governments consider various economic stimulus packages, it is important that they focus on the right industries: those that are the future of the country rather than its past. To use a well-known Canadian metaphor, we need to skate to where the puck is going to be, not to where it has been.” |
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