"The impact of COVID-19 will certainly dampen overall spending on IT infrastructure as companies temporarily shut down and employees are laid off or furloughed," said Kuba Stolarski, research director, IT Infrastructure at IDC. "While IDC believes that the short-term impact will be significant, unless the crisis spirals further out of control, it is likely that this will not impact the markets past 2021, at which point we will see a robust recovery with cloud platforms very much leading the way."
In the longer term both markets will return to growth. The server market is expected to deliver a compound annual growth rate (CAGR) of 4.9% over the 2019-2024 forecast period with revenues reaching $116.6 billion in 2024. Meanwhile the external ESS market will see a five-year CAGR of 1.3% growing to $32.4 billion in 2024.
"The IT infrastructure markets are already going though a transformation and shifts in end user spending will bring an even faster changing IT buyer landscape," said Natalya Yezhkova, research vice president, IT Infrastructure. "While the current crisis brings tensions and uncertainty to the market, it also will push organizations to expedite adoption of technologies and IT delivery models that help with optimization of IT infrastructure resources."
IDC's Worldwide Quarterly Cloud IT Infrastructure Tracker and Worldwide Quarterly Server Tracker are part of the Worldwide Quarterly Enterprise Infrastructure Tracker, which provides a holistic total addressable market view of the five key enabling infrastructure technologies for the datacenter (servers, external enterprise storage systems, purpose-built appliances: HCI and PBBA, and datacenter switches).
For more information about any of IDC's Enterprise IT Infrastructure Trackers, please contact Lidice Fernandez at email@example.com.
About IDC Trackers
IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and on-line query tools.
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