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IT Spending: COVID-19 Shocks IT Plans for 2020
COVID-19 is expected to impact IT spending globally this year. IDC has revised their estimates for the year to a 2.7 percent decline, compared to a 4.3 percent increase which they had forecast in February.
The IDC report said that “in line with previous economic recessions, IT spending on hardware, software, and IT services is likely to decline by more than real GDP overall, as commercial IT buyers and consumers implement rapid cuts to capital spending in line with declining revenues, profits, market valuations, and employee headcounts.”
| % Year Over Year Growth | 2019 | 2020 |
| Devices | +0.9% | -8.8% |
| Infrastructure | +8.8% | +5.3% |
| Software | +10.0% | +1.7% |
| IT Services | +3.9% | -2.0% |
| IT Spending | +4.8% | -2.7% |
Christopher Holmes, managing director at IDC, said that “for supply chain disruptions, which started in China and has rippled around the globe – the challenges of logistics are keenly felt as countries employ border controls and restrict movement of people. This impacts SMB’s the most, which in turn will have impact on all organizations as non-delivery of a single screw can mean even the largest product cannot be assembled and shipped.”
