What are the impacts of Covid-19 on the tech and IT industry?
The COVID-19 pandemic has totally disturbed the balance of every industry. The infection is increasing day by day and the situations are getting worse. The only way to stay safe is to stay at home and follow the instructions given by the government.
This will help people to stay away from infection and keep the economic condition of the country stable. It’s also a hard time for the industries from various sectors to overcome this COVID-19 pandemic situation.
Specifically focusing on the IT industry, the section will discuss some of the factors largely affecting the IT sector and current challenges which the companies are facing. The section will also cover different optimized and viable solutions for the problems of the business. These ways will help the business to gain a stable position in the market and work in a systematic manner.
The COVID-19 pandemic has not only affected the working mechanism but the business owners are finding it equally difficult to connect with their employees and maintain proper communication to achieve business goals. Such requirements are pushing the companies to find alternatives to traditional ways of communicating and extend videoconferencing technologies. The significant factors which are important to consider are discussed in the following section
Some of the major challenges are listed below :
The COVID-19 pandemic has resulted in shutting down plants, projects, and factories as the government has imposed lockdown globally. Although the lockdown has gained some relaxations still the market will take a certain amount to time to get into a stable condition.
Secondly, the Supply chain from different countries is disturbed or broken which is causing a huge impact on the economy of the country. These terminations and new bond restrictions have affected different sectors especially those being used by prominent tech companies to manufacture their goods.
Considering the fact that every country is prepared with an alternative plan for production and manufacture in case natural calamities hits the country or crisis and recession phase comes in the business. However, The case with coronavirus is totally different as the people are even restricted from getting out of their homes. The situation is different and has affected globally therefore it is difficult to predict which area is least affected.
IT industries need continuous exploration and new ideas so that the product of the company can prevail in the market for a long time. The IT sector is continuously growing sector where replacement is available for each product. Therefore, conferences held in various parts of the world and competitions are essential for new updates and knowledge. However, due to the pandemic, all social meetings and gatherings are restricted. These cancellations are not only disrupting the flow of knowledge but have also resulted in direct economic losses.
The COVID-19 pandemic is holding back the innovations and is not allowing the individual to grab business opportunities as the situation is quite hard and only priority remains to stay alive. However, people are finding ways to connect with each other and carry on basic business requirements. Conferences are shifting online and live streams, legit stuff is available on social platforms from where the individual can learn and develop his technical knowledge and skills.
Business is Shifting on Digital Platforms
With the lockdown restrictions and the rules imposed by the government for less human contact, there is only a single path left which the business owners need to follow. The main aim of the owners in the current situation must be to shift everything on the digital platform whether it be communication, development, mechanism control, etc. This is the time where the world is recognizing the importance of the internet and its speed. Therefore, the 5G's lightning-fast speeds are very important to drive all the business prevailing in the market. This will help the business to connect easily with its clients and customers without bothering about the lockdown rules as the interactions are totally virtual.
Telehealth and Teleconferencing
The world has increased its dependency on 5G because of its excellent connection capabilities. The two main sectors which have flourished in the current time are telehealth as well as teleconferencing. The following sections will cover an overview of these fields.
The digital mechanism that makes it possible for the physician to diagnose, observe, provide treatment, or operate a patient without being physically present at the location. As the infections are increasing every day, A normal healthy citizen often feels unsafe to visit the hospital and have health checkups in case of certain uneasiness. Such technology can help people to get treatment for regular health problems just by sitting at their home and remain safe. Various 5G- powered system that enables remote consultations and diagnosis of the virus without the physical presence of the physicians are tried and tested in China for the usage in telehealth sector.
The most common nowadays is interacting using various conferences in order to continue with your business. The companies have given employees work from home facilities in this current pandemic period and therefore the majority of IT employees are working remotely. The company gets regular updates about the progress of the work using teleconferencing. The most common teleconferencing applications used by the employees are Employers, Microsoft Teams, Google Hangouts, Zoom, and Skype. Gradually the companies may build their own teleconferencing apps so as to preserve the confidentiality of the data.
Importance of Virtual Reality in the current pandemic
The pandemic is raised the important aspect of virtual reality. The successful companies like Microsoft, apple, google, etc. The companies have also restricted the movement of its employees for business deals in the countries majorly affected by the COVID-19 pandemic. The employees are working from remote areas as this is the only way to be safe. Companies are considering Virtual Reality as an essential tool for the efficient working and training of the employees. Coronavirus has brought VR into the picture and can help the business owners to implement technology in their own business. Employees can train themselves and learn various skills just by sitting at home.
In these difficult times, Hvantage Technologies stand beside you in order to help one another in whatever way we can. Our company provides you with optimized software solutions and support services like virtual assistant services, contingent workforce along with outsourcing facilities. We have decades of cumulative experience in outsourcing and offshoring space. We are together in this and with our global expertise, We can help you to uplift your business and gain a stable position in the market.