According to IDC, European IT spending-- including software, hardware and services-- is set to drop by -4.7% to reach $487 million in 2020, as the coronavirus (aka Covid-19) pandemic continues to loom over the European economy.
Many countries are relaxing lockdown restrictions, but businesses will continue to face "strong" challenges, with industries such as transportation and personal and consumer services being among the most affected. According to the analyst, the combined industries will face a decrease of -11.6% in IT spending in 2020. After all, airlines have drastically cut flight numbers, while many hotels, restaurants, bars and pubs remain were shut down following government guidelines. Some businesses are reopening, leading to some mild improvement for the months ahead, but rebound will be "very slow" for the two industries.