Enterprise ICT budget in Australia to decline in 2020 due to COVID-19, says GlobalData

Majority of the enterprises in Australia are expected to see their proposed ICT budgets for the year 2020 decline following the COVID-19 outbreak, according to the latest enterprise ICT decision makers’ survey* from GlobalData, a leading data and analytics company.

GlobalData’s Enterprise ICT Investment Trends in Australia 2020 Report reveals that about 33.3% of the Australian enterprise ICT decision makers surveyed have claimed that their enterprise ICT budgets for 2020 would decline by about 10%, compared to the level it was before the outbreak. Another 16.7% of respondents claimed that their enterprise ICT budget would decline by more than 20% after the COVID-19 outbreak.

The survey further reveals that while majority of the enterprises will be restraining their ICT expenditures, a good number (30%) of enterprises would still be increasing their ICT budgets slightly or significantly. This is expected to provide various IT related products and service providers some opportunity to grow their business in the country.

Saurabh Daga, Technology Analyst at GlobalData, says: “While Australia has been relatively successful so far in containing the COVID-19 outbreak and is beginning to relax lockdown measures, several business enterprises in the country are still reeling under the uncertainty created by what can now be termed as a global pandemic.”

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