TECH SUPPLIER Mar 2022 - Market Perspective - Doc # EUR148926122
The Impact of the Russia-Ukraine War on the Global ICT Market Landscape — IDC's First Take, March 4, 2022
Russia's invasion of Ukraine on February 24, 2022, and the ensuing escalation of events, including sanctions and other measures levied by the U.S. and the European Union (EU) among others, have led to a critical geopolitical turning point for Europe and the world.
In this extremely fluid environment, International Data Corporation (IDC) is carefully evaluating the geopolitical situation and its impact on the ICT market, through its broad network of global, regional, and local analysts. This IDC Market Perspective provides a first take on the war’s impact on and implications for the global ICT industry, while providing recommendations to tech providers and buyers to help them rapidly adapt and react to fast-changing market conditions.
"While Ukrainian and Russian ICT markets will be the most affected by the war in the short term, with considerable declines expected in the short term and likely slow future recovery, few countries will be spared. IDC expects other European countries to be hit first and other geographies around the globe to face spillover effects on their economies and digital markets, particularly given the war’s likely impact on trade, supply chains, capital flows, and energy prices," said Andrea Siviero, associate research director, IDC EMEA.