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Abstract

This report combs through the basic situation of the development of COVID-19, analyzes its impact on China's economy, and gives an updated forecast of its impact on China's ICT market, including the smart connectivity equipment market, enterprise-class IT market, key emerging technology market, and key vertical industry market. The top 10 potential business opportunities brought about by COVID are digital platforms and big data, new smart cities and parks, internet medical services, online classrooms and education, telecommuting and online activities, 5G industry applications, unmanned scene transactions and services, fresh ecommerce, supply chain management, manufacturing, and service robots. This report also provides summary and recommendations at the end.

"The overall impact of COVID-19 on the economy is higher than that of the severe acute respiratory syndrome (SARS) outbreak in 2003. The impact of COVID-19 on China's economy will mainly be concentrated in 1Q, with a slight impact on 2Q, and a limited impact on economic growth for the whole year, says Kitty Fok, managing director, IDC China. She adds, "After the end of the outbreak, China's macro environment will trigger five major changes: the modernization of the government, the decentralization of urban clusters and central cities, the acceleration of digital health system, the accelerated rise of contactless business and services, and the acceleration of the global supply chain strategy of China + 1. These five changes will also bring huge ICT market business opportunities, and ICTs vendor should pay more attention to them."


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