COVID Affects IT Industry in Positive and Negative Way
The COVID-19 cases around the globe are haunting people from almost 5 months. The situation is getting worst day by day. So, to keep things under control, the only way is to stay safe at home.
The effect of coronavirus pandemic shattered the world's economy. Every Industry is suffering from this situation in some or the other way. But these days of quarantined life is dependent on IT and Telecom companies as they are acting as a source of connectivity to keep things going.
People all across the world are forced to adapt work from the home methodology. So, we are here to discuss some of the positive and negative effects of COVID on IT industry.
Affect of COVID Lockdown on IT Industry in Negative Way
Most Tech and Telecom Companies are working hard to balance the connectivity among its employees working remotely from their personal space. The companies are trying their best to aid themselves with videoconferencing technologies in a broader sense and availability.
Here are some significant impacts that every Tech and IT industry is going to experience in the year to come.
- The Supply chain is affected or Broken.
As due to COVID-19 or China originated Coronavirus, the majority of the Country's people were forced into the self-quarantine mode. As a result, most of the factories and plants were forced to shut down entirely or partially.
The plants and factories by most prominent tech companies used for manufacturing their goods. The Famous company Foxconn, the primary Manufacturer of Apple, has closed there manufacturing units and late faced shortage in supply of iPhones.
However, every company always do have a plan B for their production, considering natural disasters. They usually start producing goods in the areas which have not been affected. But in the case of COVID-19, the things are worst as it exploded globally and it's tough to assume which country will be least affected.
- Cancellation of several Tech Seminars
You must be knowing the World-renowned Mobile World Congress or MCW was scheduled to take place in February 2020 in the city Barcelona, Spain. But sadly, it was cancelled due to COVID -19 pandemic. It results in huge loss both economically, and many missed partnership opportunities.
MWC is an important event for connectivity and tech industry. It offers some most innovative mobile and mobile application development companies to showcase their ideas and innovations. It leads to some new business partnerships too.
Apart from that, Facebook Cancelled its F8 Developer Conference and Global Market Summit. Likewise, IBM and Google Conducted its Developers Conference and Google Cloud event respectively to the online platform.
Though the companies shifted their business conferences to online, it also degraded the opportunities as it delivers earlier in Person conferences. It is also tough to display their new technologies and business models through online interfaces.
- The need for 5G at its highest levels
The 5G technology offered fast internet speed, with almost instantaneous communications and boosted the connectivity density more suited for remote interactions. Business interactions become the top priority for most of the organisations and enterprises. It is the only way to maintain the workflow over the spread of Coronavirus.
The demand raised for Telehealth and Teleconferencing is the most essential for firms to deal with this Pandemic. To make the connectively more stable and reliable, which leads to an appeal to strengthening the 5G network and its supporting software and devices.
Most Information technology giants were working and hiring advance level developers to create their teleconferencing applications and their supporting hardware.
- The higher need for VR in the coming years to safeguard the health
In this Coronavirus pandemic, most of the tech giants, including Google, Microsoft and Amazon, instructed their employees to work remotely. The company also reduced every non-essential travel across countries like China, Italy and Some European and American States.
All the companies mentioned above-integrated VR technology amongst their employees to work in the safest way to deal with the crises. VR technology helps in solving issues like Collaborative works and opportunities, which is not possible without hands-on training.
VR becomes a useful tool in the field of training of the employees. The technology helps Employees to keep producing the best results even after working from home. The outcomes and productivity remain the same as earlier, which is only possible while working in the office.
Affect of COVID Lockdown on IT Industry in Positive Way
As we all know that the Coronavirus pandemic came with a massive loss in economy, opportunities and human lives. However, the universal truth is that everything in this universe comes with both positive and negative effects.
Here are some benefits the Pandemic is going to offer in the coming years:
- IT Industry is expecting an enormous boom in the coming years. The IT industry market will rise from 131 billion US$ to 295 Billion US$ in the next 5 years. The main reason for the growth in this industry is the demand for software and social communication platforms.
- Advance technology implementation and development in the field of teleconferencing. There are platforms like Google's Hangout, WhatsApp video call, Microsoft Teams and much more. People across the world demanding the best quality teleconferencing tools to keep in touch with their family and conduct official meetings in their quarantine stay.
- Integration of Technology in health care services and operations. Higher investment across countries and work in collaboration to deal effectively with the deadly virus. Various scientists and medical officials were working jointly with the help of technology to deliver the best possible vaccine for the treatment of COVID-19. Many Countries stepped forward to collaborate in multiple medical deals and partnerships.
The whole world is suffering a lot and dealing through tough times. We all working together to save humanity in the best possible way. Our safety is the major concern for that IT and tech industries are giving there best to deliver advance online technology to keep the world's economy in the track.
We need to pan everything digitally and make optimised strategies to improve our business growth. We need to sort issues by staying safe at home and deliver our contribution in the be
About Software Assemblies
Ellen is Content Marketing Strategist at company with an extensive experience in helping enterprises and startups streamline their business performance through data-driven innovation.