The International Data Corporation (IDC) currently forecasts worldwide IT spending to decline by 2.7% this year due to the economic impact of the worldwide COVID-19 pandemic. While every industry will be affected by the global slowdown, IDC notes that some will reduce their IT spending more than others. IDC in its Worldwide ICT Spending Guide: Industry and Company Size, document hospitality and tourism-heavy industries like transportation and personal and consumer services are expected to be the most negatively impacted markets with IT spending expected to decline by 5% or more. However, both markets are relatively small in terms of IT spending. Discrete and process manufacturing are both large market opportunities for technology (nearly $400 billion combined) and face significant risks du...
