COVID-19 has affected millions of people and businesses and has created a financial disaster in different countries, however, a few sectors of the IT industry are getting advantages due to the changes imposed on the society.
Cloud Computing
The cloud computing segment has been flourishing for years. Several countries have adapted work from home policy in coronavirus pandemic due to which workloads are being shifted to the cloud to keep the businesses operational.
Cloud-based companies are enforcing an abrupt digital revolution project to promote cloud and mobility trends. Although the market-leading business including Amazon Web Services, Microsoft Azure and Google Cloud is taking advantage yet, the conventional industries are also implying cloud computing to run their businesses.
It can be said that the businesses who have begun their journey towards cloud-based model will least likely to reverse their working process after the pandemic is over.
Video conferencing and collaboration
In this crucial period, various businesses are encouraging video conferencing for their routine tasks. The purpose of video calls is to create a positive environment and increase the monitoring process of each employee’s tasks. Furthermore, it is an easier way to have two-way communication rather than emailing and reducing the efficiency of work.
Microsoft is an obvious beneficiary here, it announced last week the number of daily active users for its Teams collaboration suite increased by 12 million, though many others are financially better off also.
Electronic payments
COVID-19 has triggered millions of users to the user electronic payment system through Visa, MasterCard, and AMEX.
People are just using these means for a very short duration yet it can be used for the long-term due as local shops have also started to accept digital payments.
In this era, people are less likely to carry cash everywhere, checkbooks have also become a part of the past. Within some more time, digital banking will be the most preferred way for money transfer rather than encouraging physical payments.
Ecommerce
The more people are at home bored, the more likely fingers are going to venture towards the e-commerce apps to spend the money which has been saved from not going to the pub
Streaming, gaming and video content platforms
People spending their time in isolation also need some sort of entertainment like gaming, streaming, and movies. Everyone wants to enjoy his time by doing something equally creative as well as equally fun.
YouTube, Netflix, and various other content platforms are getting popular and hence, the business of video gaming, streaming, and online video content is the most obvious example of a beneficial business amid coronavirus outbreak.
The likes of Microsoft Xbox, Google Stadia and PlayStation are likely securing additional subscriptions as well as in-game purchases.
Online grocery delivery
The worldwide lockdown has increased the trend of ordering grocery online. Several platforms are letting you purchase the items of your choice through applications, websites, and portals. It would leave long-lasting beneficiary effects after the pandemic would be over.
As per our research, online shopping delivery service Ocado suspended its website last week, telling customers to demand exceeded its capacity to deliver. The firm has said, “It would fulfill its orders and will soon reopen, with rations placed on certain food items.”
The telecommunications industry
The telecommunications industry is holding up society by facilitating the customer with easy communication through the internet. For those who are working from home are appreciating the telecommunication services.
Authorities are putting in measures to protect these valuable assets, not only to ensure consumers can continue their daily lives but so emergency services can continue to function, or research labs can collaborate to create a vaccine.
