Sharp IT budget cuts expected in wake of COVID-19

PCs, smartphones and cloud apps are that much more vital for collaboration thanks to workplace lockdowns across the globe, but the economic fallout of the COVID-19 pandemic will see IT spending less on these technologies this year.

Gartner and IDC have revised their forecasts for 2020 in the wake of the pandemic, and the outlook is grim.

Worldwide enterprise IT spending, including telecommunications and business services, rose 5.0 percent year on year in 2019, according to IDC, which pegged a similar 5.1 percent rise for 2020 back in January. Four months later, IDC now expects overall 2020 IT spending to drop by 5.1 percent.

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