Based on its latest Black Book release, International Data Corporation (IDC) expects telecommunication services spending to reach $1.6 billion in 2020 with nearly flat growth compared to 2019.
The COVID-19 pandemic has impacted the market in several ways. On the positive side, IDC has observed increased use of telecom services due either to nationwide lockdown or work-from-home policies that many companies have implemented for their employees to follow. However, this doesn’t directly translate into a surge in telecom spending due to many households having unlimited voice calls and unlimited Internet services.
