Pune, May 18, 2020 (GLOBE NEWSWIRE) -- The rapid spread of coronavirus in numerous countries across the world has compelled governments across various countries to take strict measures. These measures have indirectly taken a toll on businesses across the world. In its latest report titled “Impact of covid-19 on Information, Communication and Technology (ICT) Market Size, Share, Industry Analysis and Regional Forecast,” Fortune Business Insights highlights the major industry developments that have taken place since the corona virus outbreak emerged. The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
The corona virus outbreak is one of the most infamous topics trending across the world. With over 1 million deaths worldwide, the covid-19 pandemic will remain as one of the most severe disease outbreaks to have ever existed. Given the severity of the disease, governments across the world are taking extreme measures to control the spread of the disease. Although these measures are being taken for the sake of the people, several businesses are likely to suffer at the hands of lockdown. Having said that, the use of online platforms and software continue to plummet. The increasing use of online software and business operating tools will emerge in favor of the companies operating in the information and technology domain. The growing adoption of video and textual communicating platforms will create a massive potential for the growth of the software-based businesses in the ICT domain. The report includes a few of the major industry developments in the ICT domain that have occurred ever since the coronavirus outbreak came into picture.
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Covid-19 Pandemic to Create New Opportunities for Cloud Service Vendors
The coronavirus outbreak has brought about a sense of hesitancy and negativity among people as well as businesses across the world. Given the seriousness of the disease, governments in numerous countries across the world have taken strict measures and advised people to stay indoors. As more people are following and practising social distancing, several companies are asking their employees to work from home. As majority of the data transfer, process, and exchange take place over the internet, there is a sudden rise in the use of cloud platforms across the world. In March 2020, Microsoft announced that the coronavirus outbreak has led to a surge in the adoption of cloud services. The company announced that the team’s communication platform ‘Microsoft teams’ reached 44 million users. Besides this, other companies that operate cloud-based platforms including Skype and Zoom also announced that there has been a massive rise in the demand for online services since the emergence of the coronavirus outbreak. Altogether, the Covid-19 pandemic has created a huge platform for the cloud-based service vendors in the information and communication technology sector.
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Virtual Reality Sector to Witness Huge Downfall
The virtual reality operations have almost come to a standstill in the past two months. The strict measures taken to stop the spread of the disease have brought down the businesses involving virtual reality products and entertainment medium. Additionally, augmented reality is another sector that has witnessed downfall. AR and VR service vendors are likely to turn their focus on development of enhanced video tools for indoor tools. Having said that, the online VR services that are compatible with VR tools that are used indoors will create new opportunities for the companies operating in this domain. The report discusses the global impact of the Covid-19 pandemic on VR and AR businesses worldwide. Additionally, the report highlights a few of the major sectors in the ICT domain that have been affected by the Covid-19 pandemic.
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Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Major Factors Driving the Impact of COVID-19
- Impact of COVID-19 on the Supply Chain
- Opportunities Offered by the Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Steps Being Taken to Minimize Impact of COVID-19
- By Major Companies
- By Government
- By Industry
- Key Industry Developments – In Response to the COVID-19 Impact
- Regulatory and Policies Changes – In Response to the COVID-19 Impact
- Consolidated SWOT Analysis
- Global Information and Communication Technology Market Analysis, Insights and Forecast, 2016-2024
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Augmented and Virtual Reality
- Artificial Intelligence
- Big Data Analytics
- Cloud-based Services
- E-learning
- Smart City
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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