TECH SUPPLIER Apr 2020 - Market Perspective - Doc # CHE46039520
Impact of COVID-19 on China's Economy and ICT Market
By: Lianfeng WuVice President, Chief Research Analyst, Kitty FokManaging Director, IDC China, Zhenshan ZhongVice President, Emerging Technology Research, Thomas ZhouAssociate Vice President, Enterprise System and Software Research, IDC China, Antonio WangAssociate Vice President, Client System Research, Imaging, Printing & Document Solution Research, and Research Operation Center, IDC China
This report examines the situation of the current COVID-19 outbreak and analyzes its impact on China's economy. It offers updated predictions on the impact of the outbreak on China's ICT market including the smart connected devices market, enterprise-grade IT market, and key vertical industry markets. It also identifies ten potential major opportunities: 1) digital platforms and big data, 2) new smart cities and parks, 3) online healthcare services, 4) online classroom and education, 5) remote office and online activities, 6) industrial 5G applications, 7) unmanned commerce and services, 8) fresh food ecommerce, 9) supply chain management, and 10) manufacturing and service robots. It ends with a summary and advice for ICT vendors and industry users.
"The COVID-19 outbreak has an overall greater impact on the economy than the 2003 SARS outbreak and its impact will be mainly confined to the first quarter and lessen in the second quarter with a limited full-year impact," says Wu Lianfeng, Vice President and Chief Analyst, IDC China. "On the heels of the outbreak, there will come five major changes in China' s macroenvironment: 1) intelligentization and modernization of governmental governance; 2) decentralization of city clusters + central cities; 3) acceleration of healthcare system digital transformation; 4) accelerating rise of contactless businesses and services; and 5) acceleration of the China+1 global supply chain strategy. These changes will also bring huge opportunities for the ICT market. In their efforts to respond to the outbreak and overcome challenges, enterprises are advised to build remote collaboration capabilities and habits, provide high-quality marketing of online products and services, optimize cost control and utilize policy support, and identify and invest in post-epidemic business breakthroughs and innovations in order to get well prepared for growth after the epidemic."
China Blockchain Strategies (Chinese Version) , China Cloud Essentials (Chinese Version) , China Cloud Market (Chinese Version) , China Datacenter Market (Chinese Version) , China Gaming Market (Chinese Version) , China Internet of Things Ecosystem and Trends (Chinese Version) , China IT Opportunity (Chinese Version) , China IT Security Solutions (Chinese Version) , China Telecommunications Market (Chinese Version) , Global IT Advisor China , IDC Financial Insights: China Financial Digital Transformation Strategies , IDC Government Insights: China Government and Smart Cities Digital Transformation Strategies , IDC Health Insights: China Healthcare Digital Transformation Strategies , IDC Manufacturing Insights: China Manufacturing Digital Transformation Strategies