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!

1. Global Cloud Spending Growth is UP by 5.1 % amidst Covid-19 attack.
2. In Communications industry alone, Cloud spending grows by 11.63% in 2020
3. In Government services, Cloud infra spending is expected to increase by $2B

 Not so good news!

1. Dr. Fauci says America getting back to normal…'might not ever happen' without a vaccine (said on April 6,2020)
2. 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
3. Not much impact is observed at Utilities sector followed by Wholesale trade and Government services.
4. Overall IT Spending is reduced from 3.4% (4Q19) to -6.2% (1Q20) . during this period
1. North Americas spending decreased by $139B and Western Europe by $100B
2. APAC and LATAM (aggregate) spending decreased by $30B average.
3. Compared to APAC and LATAM, Japan and MENA region spending decreased by $10B average