Results:

“With a better understanding of the impact of COVID-19, banks and securities firms are now accelerating automation initiatives, such as customer-facing chatbots, robotic process automation (RPA) and end-to-end account origination solutions."More

According to the Garter forecast, the software sector is set to experience the strongest growth in 2020.More

Global spending on cloud infrastructure services reached $34.6 billion in Q220More

The decline is opposed to the 9.4% growth initially forecasted before the COVID-19 outbreak.More

Almost all products/solutions categories are expected to witness reduced demand in 2020, as compared to the high growth projections before the outbreak.More

“Overall IT spending is still expected to sharply decline in 2020 but will recover in a faster and smoother manner than the economy."More

However, investments in traditional, non-cloud, infrastructure plunged 16.3% year over year.More

Business confidence on IT spending is continuing to decline despite moves to ease economic lockdown, according to new research from IDC. More

“Investments will be minimised and prioritised on operations that keep the business running.”More

While spending on some technologies, like cloud and remote platforms, has seen an uptick, IDC says a ‘significant’ overall contraction will be felt in the next few months.More

"Where there is growth, most of it is in the cloud" as infrastructure spending manages to rise among a sinking market.More

"Survival will depend on maintaining cash flows and income while continuing to be innovative with technology."More

The economic impact of the international COVID-19 crisis will see worldwide IT spending decline 2.7% in 2020.More

Recent forecasts may point towards declines in overall tech spending in 2020, but there also opportunities where business may be looking to increase short-term investments as part of their response to the COVID-19 crisis.More

IT spending across the globe will decline 2.7% this year as COVID-19 continues to take its hold on the world's economy, says IDC.More

The COVID-19 pandemic has hit the IT economy hard and IDC says that pessimistic scenarios are now playing out – and may get worse.More

Depending on how the economic factors around COVID-19 play out, a pessimistic scenario would see spending growth nowhere near the 4.3% expected.More

“Much of this year's growth is dependent on a positive smartphone cycle as the year progresses, but this is under threat from disruption caused by the Coronavirus crisis."More

“With the waning of global uncertainties, businesses are redoubling investments in IT as they anticipate revenue growth, but their spending patterns are continually shifting.”More

Australia and New Zealand are estimated to witness the highest compound annual growth rates (CAGR).More

However, both Australia and New Zealand are expected to mirror the global decline on device spending.More

“The banking and securities industry continues to spend in pursuit of digitalisation, whether through digital business optimisation or transformation."More

Digital transformation and the adoption of automation technologies will be driving investments in applications, analytics, middleware, and data management software.More

The deal accelerates transformation opportunity, invests in public sector skills, drives inclusion and leverages local investment.More