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2020 Technology Industry Review and Analysis

The COVID-19 pandemic impact in the Information and Communication Technology (ICT) sector


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Technology

 


The COVID-19 pandemic has severely impacted many countries in the world since the outbreak in the beginning of the year.

This, of course, affected all big and small industries, and the Information and Communication Technology (ICT) sector is no exception to this rule. In fact, many of the globe’s tech giants are already reporting low revenues and significant losses.

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For instance, US tech giant, Microsoft, announced a low revenue estimate in the quarter ended March due to the decreased sales in surface devices and Windows software as an effect of COVID-19.

Apple also reported that its revenue for the quarter is below forecasted numbers.

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Thankfully, all is not lost for the ICT industry as several fields in this sector are proving to be pandemic-proof and emerging stronger than before.

Technologies like VPNs, cybersecurity, and data security are becoming a new trend due to the rise of work-from-home setups across the globe. Along with this came the increase in the demand for cloud services.

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Because of social distancing protocols, e-commerce, e-learning, and even e-governance are also becoming mainstream.

Telecommunication has also seen a tremendous change, specifically in the 5G area, that came with the growing demand. Overall, the future of the ICT industry is already here and has been accelerated by the health crisis.

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However, it will still not be smooth sailing for the businesses in the Information and Communication Technology (ICT) industry.

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As revealed by international law firm Baker McKenzie, the crisis has forced businesses to re-evaluate their organizations in the face of what is possibly a looming global recession.

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In order for them to thrive and come out stronger, they need to start integrating AI and analytics into their systems.

These two technologies will hopefully help in the re-organization of businesses to make them more resilient amidst the pandemic and other emerging challenges.

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On behalf of GineersNow TV, magazines and news team, have a safe Christmas and healthy new year.

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Robert Bagatsing
Managing Editor and Founder of GineersNow based in Dubai and Manila. Survived marketing at Harvard, Management at AIM and proud Bedan.

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