Impact of Coronavirus on tech business
By IGMI blog   0 Comment      January 208, 2021

The IT industry faced twin challenges of keeping up the business flow as well as to keep employees safe.
The early outbreak of the Covid-19 strain in China gave a huge blow to the entire business ecosystem disturbed the global supply chains, but as the outbreak has fully-fledged into a global arena, the strategies in every sector of business have become very unclear. The covid-19 pandemic has resulted in such a situation that was not anticipated by any of the global industries. As the airlines are grounded and the majority of the countries have introduced norms for regulating the entry of persons, all the industries including that of technology or software have been interrupted largely. Many associated organizations have taken measures in response to this and software development companies like Infosys, Wipro, and many others in the list are supporting their clients to deal with the latest changes in the industry.

How Covid-19 is impacting the Tech Industry?

  • Companies whose business operations are related to nations with Level 3 health issues have strictly cramped travel plans.
  • If the staff has traveled to countries like China, Iran, Italy, or South Korea within the prior weeks, companies have advised them to stay in self-quarantined for approx. fourteen days from the day they traveled back to those nations.
  • The tech companies let employees work from a remote location. But there is also a risk of cybersecurity with the risk of unauthorized access to company information.
  • Hence several organizations are implementing many authentications for employees to access company networks on the laptop and mobile devices.
  • There is also a striking slowdown going on in the software business process and also to new business deals. All these issues have resulted in a sharp revenue loss for software companies.

How the tech-based industry is ensuring business continuity in the covid-19 hit times?

  • In this time of boom in the coronavirus outbreak, the tech-based industry has taken many conscious actions to decrease the risk and to actively deal with this downfall.
  • Tech-based companies are trying hard to check staff’s health and to carry on business at the same time. They are keeping people healthy and safe with the wide use of videoconferencing technology made available. Even to meet clients and to ensure a smooth flow of work video conferencing applications are playing an active role.
  • Even the government organizations are utilizing this smart and advanced technology to send accurate data to people and seamlessly carry on the operation.
  • A majority of companies have insisted on their employees working from remote places, they are reliant on teleconferencing tools like Microsoft teams, Google hangouts, Zoom, etc.
  • Tech-based organizations are also making the utilization of Virtual Reality (VR) to even disruptions for employees.

Covid-19 Impacting on the Fast-Growing Industry
As the entire world is going through the grasp of Covid-19 where several nations like the USA, South Korea, Iran, and many other European as well as Middle East countries are facing a hard time in terms of economy. They are going through a period of recession due to the slowdown of the economy and the closure of several business ventures. The wave of covid-19 across the world is also impacting the global GDP.

Recent Survey and Analysis on Tech Business Impacted Due to Covid-19
A survey result by reveals that in terms of purchasing tech devices it witnessed a decrease of 12.4%. This year vendors shipped 37.4 million fewer electronic devices in comparison with the last year. However, the use of software increased rapidly it witnessed a 3.3% growth. And overall IT-related spending witnessed 3.8 % growth. However, the overall impact of the coronavirus (COVID-19) pandemic outbreak still remains uncertain.