How Coronavirus affected the IT or Technology Sector?
Tags: webdev, opensource, computerscience
Published: 2020-05-02 05:29:23

It is a fact that the IT or technology sector continues to feel the impact made by coronavirus at present. The global supply chains had been disrupted by the initial coronavirus outbreak in China. However, the outbreak has become a global pandemic right now and there are in excess of 3,308,643 + confirmed cases across the globe at the present moment. As a result, the consequences have turned to be less predictable and more far-reaching.

Mobile World Congress had to be canceled because of the efforts for containment. An increasing number of employees have been requested to function remotely, and the industry is now facing the prospect of missed partnership opportunities and delayed initiatives.
Below we have mentioned some significant ways in which the IT industry has been affected by coronavirus right now.
1. Supply chains have been disrupted

It is a fact that coronavirus had its origin in China and the region has been badly affected since the disease has been contracted by many citizens out there. A lot of them were compelled into quarantine. For this reason, many factories and plants have been shut down either fully or partially. Interestingly, notable technology companies were using these factories and plants for manufacturing their products. For instance, shortages have been experienced by Apple when it comes to its iPhone supply because of the partial shutdown of Foxconn, the primary manufacturer of the company’s products in China.

As per estimates made by Ming-Chi Kuo, the Apple analyst, this would result in a considerably minimized forecast in iPhone shipments by means of Q1. While businesses usually come with contingency plans that are focused on increasing production in a particular area which is not affected, it will be really difficult to predict which areas are going to be least affected due to the quick spread of the virus throughout the world.

In spite of this, the resources and momentum of the economy in China are not going to be replicated easily. In fact, the government has already invested a considerable amount of money in advanced manufacturing sectors such as semiconductors and telecommunications equipment.
2. Some important tech conferences have been canceled leading to missed partnership opportunities

The MWC (Mobile World Congress) was set to be held in Barcelona on February 24-27 and it had been canceled because of the concerns over coronavirus. MWC is responsible for bringing together the most notable businesses in the area to share innovations, network, and set up innovative business partnerships. Although the events planned for MWC had been rescheduled by a number of companies, these had to be canceled because of the virus threat.

Apart from MWC, Global Marketing Submit as well as the F8 Developer Conference has been canceled by Facebook while the Google Cloud Next event has been shifted by Google to online only. Moreover, IBM was forced to livestream the conference of his developer which hosted in excess of 30,000 attendees the previous year. As a whole, more than $1 billion of direct economic losses have been incurred by the cancellation of these tech events at present.

It will not be possible for the conference attendees to have similar opportunities to network by means of livestreaming as done by them while appearing in in-person events. For example, marketers will find it difficult to share the best practices casually over the Global Marketing Summit of Facebook which is livestreamed as compared to what it would have been in case the event took place in Realty. One will feel the effects all through the affected industries despite the fact that it will be tough to quantify the valuation of all these informal network sessions or chance encounters.
3. The enhanced requirement for remote interactions has showcased a requirement for 5G technology

The almost-instantaneous communications, lightning-fast speeds, as well as enhanced connection density helps to make 5G appropriate for any remote interaction and this has come into the mind of many enterprise IT solutions and organizations at present. Teleconferencing and telehealth are the couple of notable areas which have become significant for the enterprise operations and we are of the notion that the appeal of 5G will be strengthened by the enhanced dependence on all these areas.

Learn more here: https://www.rlogical.com/blog/how-coronavirus-affected-the-it-or-technology-sector/