Impact of COVID-19 on the IT Industry

The coronavirus originated in Wuhan, China towards the end of 2019 and has gradually taken the world by a storm. More than 175 countries are suffering due to the virus and it has affected around 13,00,000 people and caused more than 70,000 deaths globally, as of now. It is also having a growing impact on the global economy. The effects of Covid-19 will also have a significant impact on the technology sector, affecting the delivery of raw materials, supply chain management and causing an inflationary risk on products. However, as an attempt to see the silver lining, the disruption caused an acceleration of remote working, and a rapid focus on evaluating and de-risking the end-to-end value chain.

Some effects it will have on the IT Sector are-

  • Companies with remote-working technologies are already seeing increased demand as businesses increase their remote-working capabilities. For example- Microsoft Teams and Zoom meetings.
  • It is predicted that there will be a continued demand for cloud infrastructure services, and potential increases in spending on specialized software.
  • Hardware companies may see major demand coming from enterprises that are placing large orders for laptops and mobility devices to support employees now working from home.
  • Due to enhanced remote work scenarios, IT departments will play a larger role in future BCPs (Business continuity plans), and will need help from IT service providers in procuring devices, setting up a resilient, flexible and secure network, disaster recovery systems, IT security, etc.
  • The need for ever-faster access to data and automation will enhance the focus on network equipment and communications as never before, speeding up 5G network deployments and adoption of 5G equipment.

At TSI, we aim to provide services like BOT implementation, remote working hubs, DR setups, application monitoring, cloud based services, virtualization, support activities etc. to help meet customer demands.   

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