Wednesday, 19 February 2020 11:32

China ICT market to take hit of 10% in 1Q due to coronavirus: IDC

By
China ICT market to take hit of 10% in 1Q due to coronavirus: IDC Image by Gerd Altmann from Pixabay

China's ICT market will take a hit of something like 10% in the first quarter of 2020 due to the coronavirus, the global market intelligence firm IDC says, adding that the hit to this sector would be much greater than the overall effect on the Chinese economy.

In a statement, IDC predicted on Tuesday that the outbreak of the disease would bring about a number of changes in the country's macro environment.

“The COVID-19 outbreak will have a greater impact on the overall economy than the SARS outbreak in 2003," said Kitty Fok, managing director of IDC China. "We expect the impact to be significant in the first quarter, but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

"The impact on China’s ICT market will also be greater than in 2003 in view of the much greater role of ICT today than in 2003. The digital economy enabled by ICT accounted for 37.8% of the Chinese economy in 2019. The macroeconomic disruption brought by the outbreak is expected to significantly affect China’s ICT market and drag it down by approximately 10% in the first quarter of 2020.”

The firm said effects on the ICT market would be mostly confined to the first quarter. However, this would gradually fade in the second quarter, and end up having a limited full-year impact.

china ict chart

It said there would be at least a 30% fall for PC and smartphone sales, and greater than 15% fall for server, network and storage sales.

"AI and big data will be affected as well but will remain to grow, while emerging technologies such as IoT and security will experience minimal declines," IDC added.


Subscribe to Newsletter here

WEBINAR 12 AUGUST - Why is Cyber Security PR different?

This webinar is an introduction for cyber security companies and communication professionals on the nuances of cyber security public relations in the Asia Pacific.

Join Code Red Security PR Network for a virtual conversation with leading cyber security and ICT journalists, Victor Ng and Stuart Corner, on PR best practices and key success factors for effective communication in the Asian Pacific cyber security market.

You will also hear a success story testimonial from Claroty and what Code Red Security PR has achieved for the brand.

Please register here by 11 August 2020 and a confirmation email, along with instructions on how to join the webinar will be sent to you after registration.

Aug 12, 2020 01:00 PM in Canberra, Melbourne, Sydney. We look forward to seeing you there!

REGISTER NOW!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

These days our customers Advertising & Marketing campaigns are mainly focussed on Webinars.

If you wish to promote a Webinar we recommend at least a 2 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://www.itwire.com/itwire-update.html and Promotional News & Editorial.

For covid-19 assistance we have extended terms, a Webinar Business Booster Pack and other supportive programs.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Sam Varghese

website statistics

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

BACK TO HOME PAGE

WEBINARS ONLINE & DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research & Case Studies

Channel News

Comments