Impact of Covid-19 on IT Industry

The significant weaknesses the IT industry is facing now is due to the fall in the economy, as a lot of companies are forced to ask their employees to work from home (remotely) keeping in the account of the public health concerns. Due to this, there is a massive loss in opportunity for many companies who have international and domestic dealers.

The spread of this deadly virus has caused a lot of technology conferences to get cancelled, which could have been a great partnership opportunity for many companies to expand their horizons. A few of the meetings were shifter to teleconferences, but this won't have the same reach, and the conference attendees will not be able to have the networking opportunity as they would be attending the actual conference.

Even after all this, compared to many other industries, the IT industry is expected to have an enormous market boom.

The main reason for this increase in the economy for this industry is the increased demand for software and social media platforms, all these teleconferencing tools help the people, to communicate with their managers, colleagues and conference meetings with clients.

The economy will also blossom because, during this crises, people understood the importance of the internet and technology as this is helping us stay safe and helping in the communication between the doctors and the public.

Due to the coronavirus, a lot of opportunities opened up in the IT industry, such as the growing need for the 5th generation (5G) technology. This will help increase connections that support the primed remote interactions. This has become the top priority for many organizations due to the pandemic. Telehealth is one of the developing industries in the crises.

This could help people to get diagnosed, treated and operated with the need of a physician to be physically present. A lot of apps have been built in the past few months to help achieve this. There are many patients who are in self-quarantine who need medical supervision and medical assistance every day, and these applications could help them achieve that.