For a long time after the Blackberry bubble burst, it seemed
Canada’s electronics industry was shrinking beyond repair. Back in the mid
2000s Blackberry was the future of smartphones, and with it carrying the future
of the Canadian electronics market. The company was making $5 billion in quarterly
revenue and it was widely assumed that smartphones just couldn’t get any
better. Then Apple came along, swiftly followed by Samsung and the rest is
history. Blackberry’s revenue dropped to $660 million in the final fiscal
quarter of 2014-15 and with it the rest of the electronics market in Canada
suffered. Exports fell 22% between 2007 and 2014. In the information and
communications sector, things were even worse with exports dropping by a huge
40%.
But things appear to be looking up. Bolstered by the research
happening at Canada’s universities, the industry is able to move on from
communications and enter into medical equipment, precision instruments and scientific
equipment. By focusing on these specialist areas and moving on from
communications, the electronics industry is expected to grow by an extra $3
billion by 2030 – this is up from $12.3 billion in 2014.
Although imports are still outpacing exports for electronic
equipment, the future is finally looking up and things are moving in the right
direction for the Canadian electronics market. The automobile and aerospace
industries are looking to expand, which will only further the growth of electronics,
and printable electronics are also gaining significant traction here. This is
all excellent news and we hope the growth continues.
You can order any electronic components you may need, whatever
industry you’re in, from Atlantis Electronics. Use our Fast Component Search to
find the parts you need...
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