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Thursday 26 March 2020

*New Research* COVID-19 Tech Sector Impact

COVID-19 Tech market impact report coverTechMarketView is about to embark on its annual cycle of UK software and IT services market forecasting. We will seek, as usual, to predict the growth (or decline) of the UK SITS market over the next four years, through to 2023.

Never have we faced such uncertainty. We are in the throes of a rapidly developing global situation – one which sees us entering uncharted territory and has an indeterminable length and impact (initial outbreaks could be followed by secondary outbreaks). We can expect news – both worldwide and domestically – that is both positive and negative.

Much will be dependent on whether the fiscal stimulus provided by the UK Government is enough to prevent the UK economy entering a period of recession in H2 2020.

The TechMarketView team is currently considering the potential future scenarios we might face and the likely impact on the UK tech market. In this, our latest research, we outline how tech suppliers have reacted to the crisis to date. We highlight what their customers are saying. And we provide our initial thoughts on the short-term and long-term consequences.

History shows that following any sort of economic crisis, market leaders tend to be the ones to benefit while weaker competitors are at a disadvantage. We expect this diversification in the performance of UK tech companies to be equally true during and after the COVID-19 pandemic. But it will not just be about market leaders vs. the rest. Other factors will play a part: the industry sectors in which their clients sit, their types of contract, the resilience of their business models and supply chains, and the strength of client relationships will all play a part.

If you are a TechMarketView subscriber, you can download the research now. If you are not yet a subscriber, please contact Deb Seth to find out how you can access more research and analysis as we navigate uncharted territories.

Posted by Georgina O'Toole at '21:15' - Tagged: markettrends   covid-19