Technology market growth forecast 2020 - Impact of coronavirus (COVID-19)

The growth of global business and government purchases of tech goods and services is set to be heavily impacted by the global coronavirus (Covid-19) pandemic. In February 2020 the market was still projected to grow by three percent compared to 2019. The adjusted forecast from March 2020 shows the market growing by two percent in a probable scenario. In a pessimistic forecast scenario the global market size for tech goods and services might even decrease by two percent in 2020 compared to the previous year.

Impact of coronavirus (COVID-19) on technology market growth forecast 2020

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Release date

March 2020



Survey time period

2016 to 2020

Supplementary notes

Figures have been taken from several publications by the source.

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Statistics on "Coronavirus: Impact on the tech industry worldwide"

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