Telecom spending to decline by 0.8 percent in 2020: IDC

The latest IDC report today indicated that telecom spending will decline by 0.8 percent in 2020.
Carriers will invest in 5G network deployments in many countries, while the lockdown has increased demand for fixed broadband services in the short term.

The economic fallout will put some macro pressure on consumer spending, including upgrades to 5G mobile contracts, in the second half of 2020, but the overall impact on telecom spending will be moderate compared to other ICT markets.

Worldwide IT spending is now expected to decline 5.1 percent in constant currency terms this year to $2.25 trillion, IDC said. ICT spending, which includes telecom and business services, will dip 3.4 percent to just over $4 trillion.