In this article we are going to list the 15 biggest Canadian software companies. Click to skip ahead and jump to the 5 biggest Canadian software companies.
The world is evolving at a fast pace, with countries all over the world making strides in the software and Information Technology market. Using software products to fulfill daily tasks such as getting up early in the morning or tracking your meal’s calories has become far more common than it used to be. In fact, for some, it has become almost essential. We rely on tools and applications developed by software companies from the moment we wake up to the moment we sleep.
Therefore, the success of software companies and the thriving software industry should come as no surprise. According to data collected by Statista, revenue of the software market is expected to reach over 580 billion dollars in 2021. By 2025, this number is expected to reach even higher, resulting in revenue of over 700 billion dollars. Fields within the industry such as cloud services, big data, and Internet of Things are expected to be among the hot areas of the software industry in the coming years as well.
Software itself is a broad term, encompassing many different products designed for different tasks. There are two main classifications of software, which are System Software and Application Software. System software is a computer program designed to work as a platform for other software, while taking care of the computer’s hardware and internal functions. Examples of system software are Operating Systems, such as Windows by Microsoft (NASDAQ: MSFT) and IOS by Apple (NASDAQ: AAPL) , or Utility Software, such as McAfee Antivirus by McAfee (NASDAQ: MCFE). Application software, on the other hand, is software that is made with the intent to help users perform specific tasks. Most people know these as “apps” which can be downloaded on mobile phones or desktop computers. Examples of recognizable application software are web browsers such as Google Chrome by Alphabet Inc. (NASDAQ: GOOG) and image editor Adobe Photoshop by Adobe Inc (NASDAQ: ADBE).
While it is true that the software industry is dominated by American companies, in recent years Canadian companies have also begin to make their mark in this sector, making it one of the leading countries for software development. According to globalnewswire.com, the Canadian market is forecasted to grow at 7.2 percent over the 2020-2027 time period. The Toronto-Waterloo Corridor is even referred to as Canada’s Silicon Valley, with the second highest density of technology startups in the world.
This brings us to our list of the biggest Canadian software companies. Each of the companies listed on our list is a leading force in the software industry, providing different services and software solutions. To prepare their ranking, we have used the companies’ websites as our source, ranking each Canadian software company based on revenue, profit, assets, and employees of the company. Let us look at the emerging companies in the software industry from Canada, starting with number 15:
15. Martello Technologies
Revenue in 2019 (in millions of dollars): 10.9
Number of employees: 90
Martello Technologies was founded in 1981, and has headquarters in Ottawa, Canada. The company provides digital experience monitoring (DEM) solutions and fault and performance management to optimize the performance of real-time applications of enterprises. According to their website, services of the company are deployed in over 5000 networks reaching more than 175 countries all over the world. It was also ranked on the list of Canada’s top growing companies for 2020.