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Industries that benefit from the COVID-19 outbreak
Industries that benefit from the COVID-19 outbreak
Ganesh Subramaniam

Senior Consultant at Draup

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Industries that benefit from the COVID-19 outbreak

01 Apr 2020

The threat of COVID-19 is turning out to create a heavy financial impact on enterprises. But there are some technology industries that are witnessing significant demand due to the considerable changes forced on society. As COVID-19 concerns continue to grow, the world is being forced to consider the benefits of technologies like cloud, remote training, digital payments, etc. like never before.

Cloud Computing:

Coronavirus pandemic is effectively pushing enterprises to embrace the cloud and mobility trends creating a huge demand. From an Infrastructure (IaaS) perspective it means more money, from Software (SaaS) perspective it means more engagement and platform (PaaS) more opportunity.

Cloud infrastructure giants like Amazon (AWS), Microsoft (Azure) and Google Cloud are the obvious beneficiaries. Companies like Oracle, SAP, etc. that are working with more traditional enterprises are witnessing new conversations about enabling the workforce. The current COVID-19 could be a catalyst for accelerating the already fast-blossoming cloud segments.

Video conferencing and collaboration:

Highly critical and complicated projects and business deals are being closed by leveraging video collaboration and remote access solutions. Companies are encouraging leaders to conduct meetings via videos rather than email to not only ensure effective communication but ensure the well-being of employees.

Remote conferencing solutions like Zoom, Microsoft teams, and LogMeIn have witnessed high demand from enterprises to ensure lead generation projects can continue. VR and other immersive reality are also witnessing a surge in demand as business continuity takes priority.

Electronic payments:

Digital payment is turning out to be highly fruitful during the COVID-19 outbreak as the world is witnessing a heavy shortage of physical cash. Visa, Mastercard, and AMEX are benefitting from this trend apart from the major digital wallet companies across the globe.

OTT and Gaming platforms:

Disney+ launch for European customers during Coronavirus outbreak signals the immense opportunities lying for OTT platforms. Netflix, YouTube, and other major media platforms are realigning their content strategies to bank on the current opportunities. OTT platform companies are sticking to medium quality videos to facilitate rapid video streaming and high usage. Gaming companies are launching dynamic upgrades and tweaks to cater the high demand during this COVID-19 curfew.

Technology service providers need to go the extra mile for the clients across these industries to help them cater to their staggering demand and secure high growth. Strengthening customers with remote collaboration tools, cloud services, and data management solutions could help service providers win high-value deals and attain financial stability.