There’s no denying the massive impact technology has on our lives in today’s world. From social media and smartphones to digital payment methods and self-driving cars, technology is infiltrating every aspect of our lives.
Many people associate tech companies with Silicon Valley, Seattle, and New York; however, Canada has its own homegrown tech companies, impacting Canada and the rest of the world.
This article will look at some tech companies that have recently had the most significant impacts on Canadian markets. It will skip over the big guns – Google, Facebook, etc. – and focus instead on Canadian companies.
Online Casinos
The entertainment market has seen a significant move towards digital options. Streaming movies and television shows are now how most people watch things, while podcasts and streaming music have largely replaced radio and CDs. Online casinos have also begun to impact markets worldwide in recent years, including Canada.
Online casinos, like Rizk Canada, allow users to play all of their favorite casino games from the comfort of their own homes or wherever they take their phones. Online slot machine games are similar to mobile games’ simple mechanics and engaging visuals. Live dealer casino games rely on various technologies to run smoothly and have made online casinos as good as actual games.
Retail
Online shopping has become most people’s go-to method for making purchases. Retail giants like Amazon obviously dominate, but small businesses have also found it essential to sell online. Most brick-and-mortar stores have worked to adapt to selling online to remain competitive. Tech solutions to support the retail industry have significantly impacted the market.
Shopify is a Canadian tech company that saw that small businesses, independent creators, and merchants needed an easy way to sell their goods online. They created a commercial platform that does just that. The need for a platform like Shopify is evident from its market share. From 2019 to 2021, their market capitalization grew from $15 billion to over $200 billion, making them the biggest publicly traded company in Canada.
Real Estate
Anyone who has been paying any attention to the news knows that the housing market across Canada is booming to an unprecedented degree. Rising housing prices in metropolitan areas like Vancouver and Toronto are expected, but seeing similar increases in even the most rural corners of the provinces is a surprise.
One tech company that has taken advantage of this boom is BuzzBuzzHome. The founders of BuzzBuzzHome realized that there was a niche market that they could serve, and that’s how the company was born. BuzzBuzzHome is a database for new residential developments only, much like a wiki. Since both developers and potential buyers can use the site, its information is much more detailed than on the average real estate listing site. The company has been so successful in Canada that they have expanded into some of the biggest housing markets in the United States, including New York, Seattle, and Los Angeles.
Supply Chain and Logistics
It seems almost commonplace for goods to travel thousands and thousands of miles to turn up on our doorsteps. In our increasingly interconnected globalized society, we often take for granted the ability to order products from around the world and have them turn up on our doorstep a few weeks later. It’s only when a link in the chain breaks, such as when the container ship Ever Given got stuck in the Suez canal and stopped all shipping traffic through the canal for six days, that we realize how complex and how fragile the system is.
Descartes Systems Group Inc. is a supply chain and logistics software company. They are critical parts of the system that keeps everything ticking along like normal. Descartes Systems can help retailers, manufacturers, distributors, and freight companies keep things moving smoothly by operating mainly on the cloud. Not only is the company a huge success, but they also contribute to the success of the Canadian economy.
There are many things to worry about in a tech-dominated world. Recent news related to the environmental impacts of bitcoin mining has brought the cost of a digital world to the forefront of our minds. It isn’t all doom and gloom, however. Technological developments have improved our lives in many ways and have made our daily tasks easier.
