Trends Report

US Tech Budget Outlooks In A COVID-19 Recession

A Best-Case Scenario Of A 5% Drop In Tech Spending In 2020 And An Alternative Scenario With Declines Of 9% In 2020 And 5% In 2021

April 9th, 2020
AB
Andrew Bartels
With contributors:
Pascal Matzke , Audrey Hecht

Summary

CIOs and tech vendors in the US are facing an uncertain and rapidly deteriorating economic outlook as a result of efforts to contain the COVID-19 virus and its life- and health-threatening impacts. As we struggle to assess the damage to the US and global tech markets from these events, we've developed three scenarios for the economic and tech market outlook and lay out two of them in this report. The more positive scenario would be a sharp but relatively short recession in the US, lasting into the summer. A more pessimistic but now more likely scenario has the pandemic and its negative economic impacts lasting into 2021. We are not ready to prepare a detailed forecast for a worst-case scenario.

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