1Q20 - IT Spending reduced by 9.6% due to Covid-19 - Forecast by Gartner
Here is a quick summary of the IT Spending Forecast, 1Q20 from the Gartner webinar held yesterday, 7 th May 2020. Check out more details at http://public2.brighttalk.com/resource/core/268689/may7jlovelock_597531.pdf Good news! Global Cloud Spending Growth is UP by 5.1 % amidst Covid-19 attack. In Communications industry alone, Cloud spending grows by 11.63% in 2020 In Government services, Cloud infra spending is expected to increase by $2B Not so good news! Dr. Fauci says America getting back to normal…'might not ever happen' without a vaccine (said on April 6,2020) Comparing the 4Q19 and 1Q20; IT spending in industry verticals such as MFG is reduced by $110B ; Banking & Securities is reduced by $57B ; followed by Retail - reduced by $40B and Transportation - reduced by $37B Not much impact is observed at Utilities sector followed by Wholesale trade and Government services. Overall IT Spending is r