Canada TECH Industry And Its Dynamics

The Canadian stocks from a historical perspective haven’t been showcasing outstanding performance. The analysis shows them lagging when compared to their US counterparts.US leading companies such as Alphabet Inc (NASDAQ:GOOGL) and Apple Inc (NASDAQ:AAPL) are said to reach the trillion-dollar mark. The same can’t be said for the Canadian tech startups. However, there are a few businesses in the country that have been inspiring hope lately.

Best performing businesses

The first one is Shopify Inc (NYSE:SHOP). The truth is that it hasn’t yet joined the trillion-dollar lot but has been performing quite well. From the look of things, it seems predestined to joining the club in time to come.

The second one is Lightspeed POS Inc (TSE:LSPD). Analysts project that it is going to put the Canadian stocks on the map based on its strong performance. The company has been making major investments in its workforce and machinery.

Kinaxis Inc (TSE:KXS) is the third vibrant business in Canada. Its stock has been rising consistently and also one of those expected to join the trillion-dollar club.

We are on the verge of the fourth industrial revolution that is characterized by top-end technological advancements. Some of these include autonomous vehicles, genome editing, renewable energy, artificial intelligence, biometrics, 3D printing, and the Internet of Things.

Tech optimists and their take

Tech optimists say that the fourth industrial revolution will impact the way we think, interact and behave. This shift may seem impressive. However, it is important to focus on the associated challenges. Issues related to inequalities, security, privacy and much more might pop up. There is a need to establish new laws that will govern the changing technological scenario. Industry 4.0 is critical and thus proper regulation, good governance, and adaptability need to be prioritized. This is not only in Canada but around the globe.

The tech industry in Baltimore has been showcasing outstanding performance this year. Analysts attribute this growth to the ongoing office expansions and strategic relocations.

Paragon Bioservices, a leading firm recently launched an office measuring 150,000-square-foot. Construction activities are still underway and by the end, it may have a space of almost 300,000 square feet.

The turn of events

A lot of changes have been happening in the tech sector. It was sometime back the t US government banned exports to Huawei. The US said that it saw the undertaking as posing threat to its national security. This implied it wouldn’t be obtaining components from the US. It would also compel businesses in the US to seek licenses to resume trading with the firm.

HCL Technologies seems to be performing quite well. The global technology firm will soon be unveiling its delivery center in Canada. This will specifically be in Moncton, New Brunswick to boost its business.

There are also reports that Canada is giving a major boost to its auto-industry. The country is said to be retooling it quietly.

Several technology companies have lately been seen to pay keen interest to the automotive segment. They want to join the fast-growing space and Canada pledges to support them.

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This article by Money News National is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Money News National has no position in the stocks mentioned. Thank you for reading.

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