Spending on telecommunication services (including pay TV) will reach 1.6 trillion U.S. dollars in 2020, similar to the level in 2019, according to IDC. That represents a slight downgrade on its November 2019 forecast. At that time, the research firm anticipated that spending on telecom and pay TV services would reach 1.65 trillion dollars in 2020, up from 1.63 trillion in 2019.
Although the Covid-19 pandemic has increased home usage of telecom services, IDC warned this doesn't directly translate into a surge in telecom spending as many households have unlimited voice calls and unlimited Internet services. "COVID-19 is leading to a lot of uncertainty around the spending impact on various technology markets. We expect the telecom services market to weather the current conditions better than other elements of the ICT market," said Carrie MacGillivray of IDC. Source: IDC statement