Enterprises are slashing IT Budgets amid COVID-19 Pandemic

COVID-19 Pandemic

COVID-19 pandemic will see IT spending less on cloud apps and personal computers in 2020. Research firms Gartner and IDC have revised their forecasts for IT spending this year in the wake of the pandemic. IDC expects overall 2020 IT spending to drop by 5.1%. Enterprise software vendors will see a 6.9% drop in growth this year, according to Gartner. Both the research firms’ project businesses to further adopt cloud services to offset reduced capital spending.

Source: https://www.cio.com/article/3545534/sharp-it-budget-cuts-expected-in-wake-of-covid-19.html