Upvote:2
If this is booked as a single ticket
(1) Will this be enough?
2 hours is plenty
(2) What should I expect when I will reach Munich?
Nothing much: you walk off the plane directly into the terminal, you look at the display to find your departure gate and leisurely walk over there. Plenty of time for bathroom breaks and sampling the local "Weissbier" if you are so inclined.
(3) How long does Security take and do I need immigration or can I continue my flight?
Flights arriving from Canada are typically not routed through security. There will be no immigrations since you are not entering the Schengen area. All the fun with checking your documents happens in Canada during check in. If you are a Canadian citizen you don't need anything for Germany. If you are an Indian citizen you may require an airport transit visa (it depends). If you are something else, you need to check.
If these are two separate tickets
(1) Will this be enough?
No. You would have to be extremely lucky, especially if you have checked bags.
(2) What should I expect when I will reach Munich?
You will be routed first to immigration. How long this may take depends a lot on your passport and Visa (if any) and line conditions. You will need full Schengen entry credentials.
Next you'll go the baggage carousel and collect your bags and exit through customs. Customs is typically quick unless they pull you out for inspection. Hard to predict.
Once you are through customs you have officially entered Germany! Go to the check in counter of your departing flight (which may be in a different terminal). At the counter you can check in and drop your bags but you have to be there before the cut off time. That also depends on the airline. For example it's one hour before departure for Lufthansa in Munich.
Most international flights in Munich depart and arrive from the satellite terminals whereas immigration and customs is the main terminal complex. This may require some significant in-airport travel.
(3) How long does Security take and do I need immigration or can I continue my flight?
Security in Germany can be slow but that depends a lot on time of day, class of service and status (if any). Yes, you have to clear immigration but we already covered that in #1