In 2020, the global IT domain took a small step back on the verge of overall revenue. As of August 2020, the research consultancy IDC projected global revenue of $4.8 trillion for the year, compared to their original estimate of $5.2 trillion. While the technology area fared better than many other industries during the COVID-19, it was not immune to cutbacks in spending patterns and deferment of major investments.
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