Impact of COVID-19 on Technology.

The spread of COVID-19 has had a significant impact on the technology sector, affecting supplies of raw materials, disrupting the electronics value chain, and causing an inflationary risk on products. More positively, the disruption has caused an acceleration in remote working, and a rapid focus on evaluating and de-risking the end-to-end value chain. In addition, potential carbon emission reductions could result in a renewed focus on sustainable practices.Potential long-term impacts on technology sub-sectorsHardware/Software
  1. The launch of new smartphones may be impacted due to supply chain constraints.
  2. Factories are experiencing challenges in getting them up and fully operational,
  3. Software applications that promote remote-working have increased demand, and
  4. Security software applications are improving remote work efficacy and demand meaning companies will spend more to secure endpoints that are being used for optimal efficiency.
IT Services
  1. IT spending forecast indicates continued demand for cloud computing infrastructure services and potential increases in spending on specialized software. There is also an anticipated increase in demand for communications equipment and telecom services as employees are encouraged to work from home and schools to move to online classes.
  2. Most companies do not have a tech stack in place for a reliable business continuity plan (BCP), and due to increased remote work, IT sections will play a large role in future BCPs.
The spread of COVID-19 has caused many face-to-face tech conferences to get cancelled as these could have created platforms for great partnership opportunities for many companies to expand their operations and offerings.Disguised benefits in this pandemic:In the near months to come, the IT industry is expected to have an enormous market demand and boom due to the increased demand for software such as Ngamia Apps Platform for logistics, and social media platforms such as Google Hangouts, WhatsApp Video call, Zoom, and Microsoft Teams.The world economy shall blossom because, during these hard times, people were made to understand the importance of internet technologies as it helped the majority to stay safe at home and at the same time embrace communication to support their livelihoods in health, educations, and delivery of services/products.The personal, organizational and country’s demand for high-speed internet connections like 4G, 5G, etc. increased and became a priority to support these activities remotely while at home during this COVID-19 pandemic spell.
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