The Covid-19 pandemic recently hit the global economy by a whopping US$1 trillion. Airline, travel, and hospitality sectors took a beating, while supermarkets, e-retailers, banking, and financial services are on the lifeboat to thrive. Digital leaders are coping with these complex dynamics by altering the scale, scope, and continuity of their IT operations. Here are some of the top technologies for COVID-19 pandemic life and those that will continue to grow during and post lockdown.
Rise of telemedicine
Innovative, data-enabled health initiatives will make their mark as the advancing medical technology for COVID19. Software and mobile apps to track hospital bed capacity will become popular. Visual tools that measure and model the infection rates and demographic spread will be in high demand. Online pharmacies, e-consultations, and telemedicine will see a surge. Surveys indicate that telehealth checkups increased by 50% in March 2020. The numbers will continue to peak at 1 billion by December, according to experts.
Scalable business models
The B2B economy on the internet will accelerate rapidly due to the growing tech industry and Coronavirus. Global brands will replace product-centric models with digitized supply chains. Supply and demand will get matched by connecting manufacturers, suppliers, truckers, and shippers. The online sales of high-volume discount sales rose sharply by 62.7% after the pandemic.
Upsurge in E-commerce
The E-commerce business is booming due to mobile shopping; as isolated consumers expect home deliveries. This demand has given a boost to the logistics companies as well. Retail grocery sales picked up steam by a healthy 64.5% after the Covid-19 outbreak. However, more than 64% of 150 Ad agencies have slowed down their campaigns.
Digital collaboration tools
Google Hangouts, Zoom, Microsoft Teams other digital collaboration tools are the must-needed technology solutions for the professionals during Coronavirus. Those who work from home use these digital tools to work as a team, connect with clients, and maintain regular workflow. The schedule online meetings, hold video conferences and make business decisions to keep up the business function. They also use automated checklists, dashboards, email alerts, and SMS services. The market for these tools grew by 50% since the start of 2020.
Streaming entertainment
Media and entertainment consumption has also risen sharply. Artists are sharing and selling their content on digital platforms. Businesses are leveraging social media, streaming, and video-sharing resources to the hilt. The demand for books, movies, TV shows and gaming experiences is also very high. About 85% to 90% of event companies are focusing on digitized virtual-delivery models. They are actively partnering with popular platforms to stream meetings, events, seminars, conferences, etc.
Growth in e-Learning
Universities, colleges, and high schools are now shut down indefinitely due to the pandemic. As a result, the demand for online education has spiked in recent times. Around 60 million students around the world attend e-Lectures. They also submit their homework, projects, reports, and essays via online platforms. The market for Learning Management Software (LMS) will grow by the US $12.4 billion during the 2020-2024 period. Tutors use them to automate curriculum design, course authoring, student details, leaves, test results, and attendance. The LMS is also efficient in scheduling and conducting online classes, group studies, and exams.
In conclusion, sectors that respond positively to Covid-19 will emerge stronger. Contrary to popular belief, technology for healthcare, entertainment, commerce, and others would reach rural regions, making it the new ‘normal.’ Emerging technologies will facilitate their recovery from the disruptive crisis. These businesses will become agile and resilient. And they will also reorganize, adapt, and accelerate growth and revenues.