The city of Markham is located in the York Region of Ontario, Canada, within the Greater Toronto Area. Its vibrant and diverse community provides the region with an excellent standard of living, a thriving economy, and a proud and rich cultural legacy.
Markham boasts a substantial business presence, with over 10,000 companies, including numerous prominent global firms specializing in technology, life sciences, financial services, media and other sectors. Often referred to as Canada’s hub for high-tech industries, Markham possesses a robust innovation ecosystem that actively promotes entrepreneurship, research, and development.
In this blog post, we’ll delve into the top industries in Markham that drive economic growth to the city and how IT support plays a role in their success.
Here Are Some Quick Facts About The City:
10167 businesses in Markham
20.8 Billion gross domestic product
338503 citizens making it the 16th largest city in Canada, according to the 2021 Canadian census
100+ ethnic backgrounds and languages make it a multicultural city.
In this blog, we will explore the top 5 biggest industries, that drive growth in the city and how IT plays a role in supporting them.
Markham’s Top Industries That Are Driving Growth
1. Markham Tech Companies
Markham, a vibrant city in Ontario and Canada, is experiencing tremendous growth in its technology sector. In fact, Markham is at the center of the second-largest tech cluster in North America.
Markham serves as a catalyst for nurturing tech startups driven by growth. With a thriving environment that accommodates around 1,500 tech companies, the city attracts tech firms from across the nation seeking to tap into unique growth-focused opportunities offered through our network of incubators and accelerator partners.
Markham’s robust innovation ecosystem is underpinned by a well-developed educational system, and support from various levels of government, financial backers, and corporate entities that are easily accessible through business associations and peer networks. Whether you’re an early-stage entrepreneur, a startup, a scale-up, or an established company, the tech journey in Markham is never a solitary one.
Additionally, Markham boasts one of the most highly educated workforces in Ontario and Canada, thanks to its strong public education system and the influx of skilled immigrants to both Markham and communities in the surrounding region. This appealing feature makes it highly attractive for startups seeking access to a well-qualified workforce.
In this sense, managed IT service providers in Markham support the tech sector in the city of Markham by providing them with reliable, scalable, and cost-effective IT infrastructure and support, allowing them to focus on their core competencies and innovation.
Image source: IBM Canada Head Office Building
The Tech Ecosystem In Numbers
1500 businesses
35400+ jobs
Top Markham Tech Companies
Gm
Lenovo
IBM
AMD
Genesys
2. Semiconductor Industry
Markham stands at the forefront of the thriving $7 billion semiconductor market, housing several global industry leaders like AMD, Qualcomm, Huawei, IBM, and more. Notably, Markham is home to Canada’s sole semiconductor incubator, VentureLab, which provides critical support to over 50 semiconductor startups and scale-ups. These entities gain access to vital resources, including funding, mentorship, and market opportunities.
The semiconductor industry in Markham derives significant advantages from its exceptionally skilled and diverse workforce. Its strategic proximity to Toronto and other major markets enhances its appeal. Furthermore, Markham’s robust research and innovation ecosystem, coupled with the supportive stance of its municipal government, creates a fertile ground for semiconductor growth.
The impact of Markham’s semiconductor industry resonates across various sectors of the economy, including information and communications technology, automotive, cleantech, life sciences, and advanced manufacturing, fostering economic diversity and vitality.
MSPs like Wingman Solutions have supported semiconductor manufacturers in the city by offering business data backup solutions to keep their data safe and accessible at all times.
Image source: Yorklink
Semiconductor Industry In Numbers
$7 billion industry
6000+ jobs created
35000+ highly skilled workers across several industries
Top Semiconductor Companies In Markham
AMD
Qualcomm
Vexos
Creation Technologies
Astera Labs
Microart
3. Autotech
Markham boasts a well-recognized and thriving autotech sector, comprising over 440 businesses employing approximately 6,000 individuals. These enterprises are actively engaged in activities such as battery testing, the development of next-generation autonomous vehicles, green energy initiatives, construction, and advanced manufacturing.
The strength of Markham’s autotech industry is underpinned by its robust technology ecosystem, which boasts the highest concentration of ICT (Information and Communications Technology) professionals in the nation. The area also hosts over 1,500 high-tech and life science companies, reinforcing its reputation as a tech hub.
Furthermore, Markham’s autotech industry derives several advantages from its strategic location, being in close proximity to Toronto and other major markets. This positioning, along with a highly skilled and diverse workforce, facilitates collaboration with academic and research institutions and grants access to government research and development incentive programs.
The industry’s impact extends across multiple sectors of the economy, including information and communications technology, cleantech, advanced manufacturing, and defense, contributing to economic diversification.
Image source: Hyundai Auto Canada
Autotech In Numbers
440+ businesses in the sector
6000+ jobs generated
Top Autotech Companies In Markham
GM
Honda
Hyundai
Mitsubishi
Multimatic
Tesla
4. Managed And Professional Services
Markham’s professional services industry encompasses a diverse range of businesses offering specialized knowledge and expertise across various sectors. These include management consulting, legal services, accounting, marketing, advertising, public relations, finance, real estate sector information technology, and human resources.
Markham’s professional services sector constitutes a significant portion of the city’s employment landscape, with 1,488 businesses collectively employing 27,806 individuals. These professionals are part of a diverse and highly educated workforce.
Markham’s strategic location, outstanding reputation, and quality of life have attracted a multitude of prominent employers from various sectors, including engineering, legal services, accounting, management consulting, and professional advisory services.
One of the strengths of the professional services sector lies in its access to a rich talent pool. This includes recent graduates from universities across the province, as well as seasoned professionals with relevant experience, guided and regulated by various professional licensing bodies.
Moreover, Markham’s business parks offer a range of office space options, accommodating companies adopting hybrid or in-office work arrangements. This flexibility caters to the evolving needs of businesses. Notably, Markham represents a significant share, accounting for 70% of the office space inventory in the northern part of the Greater Toronto Area. This underscores the city’s stature as a dynamic hub for professional services and business activities.
Image source: Miller Thomson Markham
How MSPs Support Professional Services Institutions In Markham
MSPs help professional service businesses keep their data secure and stay up-to-date with compliance regulations by:
Specializing in delivering secure managed IT consulting services and private sector organizations with business-critical workloads. These solutions can help professional service businesses achieve high availability, performance, and compliance in the cloud.
Helping professional service businesses comply with various data protection laws and regulations in Canada, such as the Personal Information Protection and Electronic Documents Act (“PIPEDA”), the Privacy Act, and more.
Professional Services Sector In Numbers
1488 businesses in the sector
27806 jobs generated
70% of the office space inventory in the GTA is located in Markham
Top Professional Services Companies In Markham
Exp reality
BDO
Miller Thomson
WSP
Fisher Environmental LTD
Malone Given Parsons
5. Finance & Insurance
Markham’s finance and insurance sector plays a pivotal role in the city’s employment landscape, with over 15,000 individuals contributing to 10% of the city’s total employment. It stands out as one of the most resilient industries headquartered in Markham, experiencing a notable 9% increase in employment from 2011 to 2016.
Furthermore, Markham’s finance and insurance industry leverages its strategic location, being in proximity to Toronto and other major markets. It draws strength from a highly skilled and diverse workforce and enjoys access to government research and development incentive programs.
Collaborations with academic and research institutions further enhance its competitive edge across various sectors involved, including information and communications technology, autotech, cleantech, life sciences, advanced manufacturing, and professional services.
Markham’s finance and insurance sector operates at the forefront of innovation and technology. It hosts leading financial institutions and fintech companies such as TD Bank, Aviva Canada, IBM Canada, Deloitte, and Paytm Labs.
These organizations continue to actively engage in the development and adoption of cutting-edge solutions, including artificial intelligence, blockchain, cloud computing, and cybersecurity, to elevate the quality of their products and services, showcasing the industry’s commitment to technological advancement.
In this sense, managed IT service providers play a crucial role by offering network security solutions to safeguard these institutions’ internal networks, and thus protect their clients’ personally identifiable information from intruders.
Image source: AVIVA Canada
Finance And Insurance In Numbers
563 businesses in the sector
16165+ jobs generated
Top Finance And Insurance Companies In Markham
Doxim
Allstate
AVIVA
Sun Life Financial
Bank Of China
OTT Financial Group
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Prepare Your Business To Succeed Just Like These Top Industries In Markham with Wingman Solutions!
Markham’s blooming industries offer a promising landscape of growth and prosperity for the city and its residents.
The diverse array of employment opportunities not only benefits the local workforce but also holds the potential to attract investments and tourism to bolster the city’s economy.
Furthermore, the increased presence of workers in the area enhances the customer base for local businesses, providing them with the chance to expand their reach and tap into new markets.
As Markham continues to thrive across various sectors, the integration of cutting-edge information technology and managed IT services becomes crucial for sustaining this growth trajectory.
Wingman Solutions stands ready to support local businesses, whether on a large or small scale, with tailored IT solutions to navigate the evolving landscape and seize the abundant opportunities on offer.
If you want to get a tailored plan that suits your particular business needs, schedule a discovery call with our team.
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