China’s ICT spending in 2020 set to decline by 7.6 percent
 

COVID-19 pandemic bit it bad says Global Data

China’s ICT spending for 2020 is expected to register a decline of 7.6 percent, against the estimated positive growth rate of 7.2 percent before the COVID-19 outbreak, according to beancounters at GlobalData.

While China’s domestic ICT spending had grown by eight percent in 2019, the COVID-19 outbreak will lead to a decrease in ICT spending from last year across almost all segments of the market.

An analysis of GlobalData’s Market Opportunity Forecasts reveals that spending on hardware is estimated to register a negative growth rate of 8.5 percent in 2020 as against the positive growth rate of 8.9 percent in 2019 and the projected growth of 6.8 percent before the COVID-19 outbreak.

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