And while I’m doing industry data, IDC has released an update to their thinking based on the Russia-Ukraine War.
A new IDC survey found that more than half the respondents are reassessing their tech spending plans for 2022. About 10% are expecting strong adjustments to their ICT investment plans. The IDC expects a steep decline and slow recovery for ICT spending in Russia and Ukraine. The global impact of this decline will be somewhat limited. Combined, the two countries only account for 5.5% of all ICT spending in Europe and 1% worldwide. At the same time, the crisis will likely impact trade, supply chains, capital flows, and energy prices. This will negatively affect the broader economy for both the regional and worldwide ICT market.
Too early to know for sure, of course, but let’s observe that the tech sector won’t go unscathed. Warnings about trade, supply chain, and energy will be the areas to focus on and consider and note that fuel alone will be a consideration here.