IDC Releases Early Assessment of the Russia-Ukraine Conflict’s Impact on ICT Spending and Tech Markets in Asia/Pacific*
SINGAPORE – The impact of the current conflict between Russia and Ukraine is far-reaching and will impact Asia/Pacific in the short and possibly long-term. In a recently published impact analysis, Russia-Ukraine War: Impacts and Implications for ICT Vendors and Buyers — IDC ‘ s First Take on Asia/Pacific, March 7, 2022, IDC reiterates that sanctions, commodity shortages, and higher prices for oil and gas as well as other essential goods will further fuel inflationary pressures and damage ICT supply chains that support the regional consumer electronics and semiconductor manufacturing as well as distribution industries.
“While not as exposed as European nations, Asian nations, large and small, still recovering from COVID-19, will undoubtedly feel the spillover effects of the economic sanctions on Russia, as will the ICT industry in Asia/Pacific. IDC expects that sanctions, commodity shortages, and higher prices for oil and gas and other essential goods will fuel inflationary pressures and damage the supply chains that support the regional consumer electronics and semiconductor manufacturing as well as distribution industries,” said Dr. Chris Marshall, AVP, IDC Asia Pacific.
Drawing on its broad network of regional and local analysts, IDC carefully evaluated the geopolitical situation and its impacts on Asia/Pacific ICT tech vendors and tech buyers. These are likely to include:
We further expect that both ICT vendors and buyers are likely to emphasize technology-related spending on digital resiliency and risk management.
“Given the fluid nature of the war, IDC recommends that companies create action plans that enable them to anticipate and react to potential disruptions resulting from it, such as supply chain disruptions, chip shortages, increased inflation, and cybersecurity threats. The impact of events can change quickly and so must your plans. Leveraging technology for resiliency should be top of the agenda,” said Sandra Ng, Group Vice President and General Manager, IDC Asia/Pacific.
The IDC Market Note, Russia-Ukraine War: Impacts and Implications for ICT Vendors and Buyers — IDC’s First Take on Asia/Pacific, March 7, 2022 (IDC #AP48933122), summarizes the views of IDC’s regional analysts to provide a first take on the Russia-Ukraine war’s impact for Asia/Pacific ICT vendors and technology buyers to help them adapt and react to fast-moving market conditions.
To learn more, you can visit IDC’s blogpost, Impact Analysis: The Initial Consequences of the Russia-Ukraine War on Asia/Pacific ICT Vendors and Technology Buyers. Access here https://bit.ly/3uhLHei. IDC will continue to monitor developments closely and provide guidance as necessary moving forward.