The novel coronavirus has spread across the world and because of the lockdown, the economic activities of all the major economies was stopped. The IT industry was the only major industry that allows employes to work from home. Here are long term benefits due to covid19 for IT industry.
In the pre-covid19 era, the majority of the business owners did not prefer to leverage technology for their business.
Because of the lockdown, small and medium-sized and even large-sized businesses were not able to sell their goods and services. As a result, there was no revenue generated and of course no profit as well.
The businesses who have already understood the importance of technology grew gradually.
There is no doubt, people have got immense awareness of technology during lockdown. Thanks to COVID19!!!
Right now, when I am writing this article on 10th of July, the novel coronavirus has been spreading rapidly. The risk of the financial crisis is also here in the market. Therefore, right now, there is definitely less demand for the IT industry. However, the future seems phenomenal.
The coronavirus has enabled immense potential for Information and Technology industry.
Long Term Benefits due to COVID19 for IT Industry:
1. Local Businesses in Developing Nations:
Do you know? India’s most of the IT companies generate more than 70% revenue from the USA and European countries. The number 70% is really big!!!
When it comes to developing countries like India, Bangladesh, Pakistan, Nepal, Philippines, Vietnam and many more, most of the local businesses are still not leveraging technologies for their business.
Therefore there is significant potential for IT business and many of the businesses in developing nations will start focusing on making their business technology-enabled.
2. Online Education:
This sector is one of the most emerging sectors of IT industry.
Social distancing is the key thing to stop spreading coronavirus. As a result, schools must have to adopt technology to teach students.
Most of the schools do not have specialized software for teaching students online. Not only schools but also tuition classes also need software for online education.
There are platforms like Zoom and Google Meet. However, these two are not still sufficient. Therefore, schools may buy software that is built for education purpose only.
3. Online Marketing:
Well, Online Marketing is not a hardcore brand of Information and Technology. Yet, I should say, there is a direct connection between IT and online marketing.
As more businesses owners would prefer to have an online presence, online marketing helps businesses to reach out to new consumers by using platforms like Google, Facebook, Instagram, LinkedIn and so on.
4. Cyber Security:
According to the Economic Times, cyber-attacks have gone up to 500% during the lockdown period. Cybersecurity attack is the only and the biggest drawback of shifting a business from offline to offline.
This simply means, as there are more people on the internet, there is massive chances of cyber attacks.
That is why, there would be huge penetration in the demand of Cyber Security expert.
5. App Development:
The smartphone industry has been growing rapidly. And in order to take advantage, businesses will prefer to have their own application.
A lot of industries would need an Android or iOS application. For instance, private schools would love to have their own application to teach students online. Local shops would need their own e-commerce apps.
Augmented Reality and Artificial Intelligence will have tremendous demand for sure.
In this financial year that is 2020-2021, there is a massive downfall in the demand. However, as people will become more aware, they will go with technology.