The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: We expect relatively strong growth in Czech IT spending throughout the medium term to be
driven by the software and services segments, where private and public sector modernisation and new
technologies around cloud computing and the Internet of Things will support growth. We have a weaker
outlook for the hardware segment, where market maturity and the threat of retail PC spending being
cannibalised by smartphones limit the growth outlook. However, we do envisage a marked improvement
from the contraction in 2015. For the IT market as a whole, we forecast spending will increase at a CAGR
of 4.6% throughout 2016-2020 to CZK91.9bn, translating to a CAGR of 8.1% in USD terms as the koruna
Latest Updates & Industry Developments
? Computer Hardware Sales: CZK28.7bn in 2016 to CZK31.0bn in 2020, a compound annual growth
rate (CAGR) of 1.9% in local currency terms. A more stable market expected after volatility in recent
years, with growth set to be supported by rising incomes, but there is downside should increasingly
powerful smartphones cannibalise PC replacement spending.
? Software Sales: CZK18.3bn in 2016 to CZK22.8bn in 2020, a CAGR of 5.6%. Software market will
deepen as competition from cloud delivered solutions pushes down prices.
? IT Services Sales: CZK29.8bn in 2016 to CZK38.1bn in 2020, a CAGR of 6.4%. Growing demand from
enterprises and the public sector for outsourcing and cloud service will underpin IT services spending
growth outperformance over the medium term.