ICT Spending Stable In Oz And NZ, Despite Pandemic
Spending on information and communication technology (ICT) has held steady in Australia and New Zealand despite the pandemic, though consumer spending is forecast to drop.
Data from IDC shows that A/NZ businesses are continuing to invest in ICT, with government stimulus and digital transformation both playing a part; IDC forecasts A/NZ ICT spending to hit around $114.5 billion AUD in 2021 and $126.9 billion by 2025, at a CAGR of 2.5 per cent to 2025.
According to Mario Allen Clement, Senior Market Analyst for IDC IT Spending Guides, Customer Insights & Analysis, businesses have accelerated their digital transformations during COVID-19.
“Australia and New Zealand were early entrants to the digital transformation journey which has allowed them to quickly pivot their operations as the pandemic hit.
“Digitalisation enables organisations to continue to engage with partners and customers, deliver products and services, and keep innovating, allowing the economy to sustain growth despite the pandemic,” he said.
IDC forecasts consumer spending on ICT to fall between now and 2025, with a CAGR of -1 per cent.