Most of the enterprises cutting across industries in Malaysia are expected to witness a decline in their proposed ICT budgets for 2020 in the aftermath of COVID-19 pandemic, according to the latest Enterprise ICT Decision Makers’ Survey 2020* by GlobalData, a leading data and analytics company.

GlobalData’s ‘Malaysia Enterprise ICT Investment Trends 2020’ reveals that about 31.3% of the enterprise ICT decision makers who responded to the survey claimed that their enterprise ICT budgets for 2020 would decline by about 10% following COVID-19 outbreak in the country, from what was planned before the outbreak. Another 28.1% of respondents in Malaysia claimed that their enterprise ICT budget would decline by more than 20% after the COVID-19 outbreak.

Nidhi Gupta, Technology Analyst at GlobalData, says: “This trend is in line with the general weakness in business sentiment seen among enterprises in the country amidst the COVID-19 crisis, with about 75% of respondents claiming that their enterprise revenues would decrease in 2020 compared to previous year.

“While Malaysia has been relatively successful in tackling the COVID-19 pandemic, the general disruption in business operations, slowdown in supply and demand, and drop in exports due to global uncertainty will impact enterprise ICT budgets in Malaysia in 2020.”

*GlobalData‘s Enterprise ICT Decision Makers’ Survey 2020 in Malaysia covers the views of 82 respondents