Hot Sectors, Hot Markets

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Economic forecast for emerging technologies

PwC was commissioned by the Greater Toronto Marketing Alliance (GTMA), in conjunction with the Ontario Ministry of Economic Development and Trade (MEDT) and Foreign Affairs and International Trade Canada (DFAIT), to undertake an analysis of selected emerging global market opportunities with the goal of identifying potential sources of foreign direct investment for the Greater Toronto Area.

The findings reveal that emerging technologies, particularly in the field of information and communication, are considered to be key drivers of future economic growth and present opportunities for the Greater Toronto Area (GTA) to attract foreign direct investment (FDI). For the purposes of this study, a high level review of the performance of the Digital Games sector, currently considered a “hot sector” for FDI in the GTA, was undertaken. In addition, the following three emerging sectors were identified as having high growth opportunity and potential for the GTA.

  • Brazil’s Information, Communications and Technology (ICT) sector: This market sector generated more than US$139 billion in revenues in 2008 and Brazilian companies are increasingly investing abroad.
  • Mobile Technology sector: This sector is expected to revolutionize communications and business. The mobile applications market alone is expected to be a US$58 billion worldwide business by 2014.
  • Clean Technology sector: Global demand for clean technologies was estimated at US$1 trillion in 2009 and is expected to grow.