IT spending growth forecast worldwide 2020, adjusted for Covid-19 impact

The outbreak of COVID-19, also known as novel coronavirus, has led to revised growth forecasts for global IT spending. The current forecast shows global IT industry declining by 5.1 percent in 2020 compared to the previous year. This is a further decline compared to already adjusted forecasts from April 2020. The data from the March 2020 forecast provided two possible scenarios for the impact of the coronavirus pandemic on global IT spending. In the "probable" scenario the IT spending is projected to grow by 3.7 percent compared to 2019. The"pessimistic" scenario shows a growth of 1.3 percent in 2020. The newest release now even exceeds the pessimistic scenario from that forecast. Instead of a small growth the IT market is now set to shrink in 2020.
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