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The effect of COVID-19 on Canadian businesses

The effect of COVID-19 on Canadian businesses 

Equinix has recently announced the results of its Global Tech Trends Survey. This research surveyed 2,600 enterprise IT decision makers across 26 countries, including Canada. The respondents were asked about their thoughts on some of the biggest trends happening around the world and affecting businesses on a global scale. This includes the COVID-19 pandemic.

Part of the important results of the survey include:

  • Only 35 per cent of those who were surveyed plan to expand into new regions, countries or metros this year, compared to 52 per cent the previous year.
  • More than half (52 per cent) of digital leaders in Canada feel that further lockdown as a result of COVID-19 is the biggest threat to their organization. 
  • Nearly half (46 per cent) of digital leaders in Canada have accelerated their digital transformation plans as a result of COVID-19.
  • Sustainability is becoming increasingly important for businesses, as 56 per cent say their customers want companies to demonstrate the sustainability of their IT infrastructure.

Similarly, IT strategies shifting were recognized to improve agility of business:

  • 57 per cent of respondents still plan to expand despite the disruption brought by COVID-19, 63 per cent of them plan to achieve this virtually rather than investing in physical IT infrastructure.
  • Six in 10 mentioned that they have changed their IT strategy due to the pandemic. Eight in 10 said digitizing their IT infrastructure was a top priority, and 47 per cent said they accelerated digital transformation plans.
  • 58 per cent of companies are thinking to invest in technology to make their organizations more agile through the cloud. 68 per cent plan to move more functions to this direction.
  • 51 per cent of businesses have revamped their IT infrastructure to meet new remote and hybrid working demands, and 64 per cent believe there will be long-term changes to where and how people work within their organizations.
  • 58 per cent of IT leaders see interconnection as a key facilitator of digital transformation. 
  • Half of respondents said the biggest impact of 5G is the capacity it gives teams to take advantage of new technologies, but 36 per cent are also worried about the need to change infrastructure to take advantage of 5G capabilities.
  • 54 per cent said sustainability is a major focus for their organization, and 57 per cent have a long-term sustainability plan in place for their IT infrastructure.

Read the full report on the survey here.

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