The coronavirus outbreak across European countries leads IDC to revise previous ICT spending forecasts-- the analyst predicts the market will see "significant" slowdown in 2020, especially when compared to the previous December 2019 forecast.
"European Technology vendors and buyers are rapidly adapting to the disruption and the extremely fast-moving market conditions," the analyst remarks. "In such a fluid scenario, it is still early to fully assess the overall European ICT impact picture. IDC recommends that all technology leaders recalibrate their strategies. In use cases such as patient care as well as customer, citizen, student or employee experience and proximity, we expect to see accelerated adoption of digital solutions."
IDC has two scenarios for Europe-- a probable one where the coronavirus is "broadly" contained in the next few weeks and a pessimistic one featuring a less controlled "domino" effect on a global scale. The probable scenario projects European ICT spending to grow by 1.4% in 2020, down from the December 20199 forecast of 2.8%, making it the first strong deceleration in spending growth since the European debt crisis of 2013-2014.
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