Wednesday, 19 February 2020 11:32

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

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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.

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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.

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