The Impact of the Russia-Ukraine War on the Global ICT Market

Abstract

The invasion of Ukraine by Russia, as well as the diplomatic and economic response that followed, has resulted in a major turning point for Europe and the rest of the globe. The conflict has had an impact on the information and communications technology (ICT) economy. The United States, the European Union (EU), and other nations have imposed economic sanctions and other measures on Russia, which have had an influence on the ICT. A new IDC analysis offers an early assessment of how the global financial crisis will affect ICT spending and technology industries. While the Ukrainian and Russian ICT markets will be the most affected by the war in the immediate term, few countries will be spared, with significant short-term declines projected and a likely slow future recovery. IDC predicts that other European countries will be struck first, with spillover effects on economies and digital marketplaces around the globe, especially given the war's expected impact on trade, supply chains, money flows, and energy prices.