Global IT spending to sink 8% to USD 3.4 tln this year - study

Wednesday 13 May 2020 | 11:37 CET | News
Global IT spending will fall in 2020 by 8 percent year-on-year to USD 3.4 trillion, pulled down by the effects of the coronavirus, the latest study from Gartner reported. With the virus outbreak, companies are putting their money into "mission critical" services, over initiatives aimed at growth or transformation. Recovery will be straightforward either, as the recession caused by outbreak will hit both supply and demand. "There is no bouncing back. There needs to be a reset focused on moving forward," Gartner said.

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