Sunday, November 27, 2022
Published 3 Years Ago on Tuesday, Apr 07 2020 By Inside Telecom Staff
Economies around the world are being hit hard by the current crisis, however some sectors within the tech and telecoms industries may see gains from the current pandemic. Here are 5 areas that are likely to come out on top.
This doesn’t really come as any
surprise as cloud computing has been on the rise for years. However, as more
employees find themselves working from home, more workloads and information
will need to be stored on the cloud, rather than office servers.
In fact, for many cloud companies the current pandemic is
forcing both individuals and organisations through a quick digital
transformation on to the cloud.
Giants like Amazon Web Services, Microsoft Azure and
Google Cloud are the obvious beneficiaries as market leaders, though for
companies like Oracle, who might be working with more old-school industries that
have so far resisted the digital, it might be necessary to have new
conversations about the capabilities of the workforce from home.
Once these businesses have begun their journey towards a cloud-based business and environment, it is highly unlikely they will go back. This could well be a catalyst for accelerating the already rapidly advancing cloud.
Companies like Visa, Mastercard
and AMEX are now taking advantage of the fact that physical cash transactions
are becoming a thing of the past. The COVID-19 pandemic is likely to be a
catalyst for this. There are many shops that are now only taking digital
payments, however, as the number of transactions decrease, revenue will as
well. Despite this, the pandemic could force more customers into adopting
digital payments. and like the above, once the pandemic is over, it is unlikely
they or the digital financial world, will revert.
Cash is perhaps becoming a thing of the past however, the older generation are still keen to resist the use of digital currency. Let’s take cheque-books as an example, they took years to fall out of common usage and both banks and shops were obliged to accept them when such a payment was offered. This could also be true for physical cash, as long as individuals wish to use it, it would still persist. However, their refusal to accept payments in the current crisis could be the start of a more rapid advancement to digital transactions, once the pandemic is over.
Due to most schools being
closed, parents will need to occupy children and adults also need to be
entertained as, pubs, bars, restaurants and concerts are all closed. Netflix is
already popular but now more people are home at night, it is likely to become more
so. In fact, all streaming platforms could benefit. Disney+ has just launched
so this is an ideal time to attract the attention of consumers.
In terms of video platforms outside of streaming, YouTube
is also enjoying success. Not only are there people trying to entertain
themselves, but there is also millions of hours of information (some much more
accurate than others) on the pandemic itself.
With the usual entertainment venues shut down, consumers will need to be entertained. The likes of Microsoft Xbox, Google Stadia and PlayStation are also likely securing additional subscriptions as well as in-game purchases.
With the rush on supermarkets persisting as the days turn
into weeks, online grocery delivery companies are seeing a huge rise in
Online shopping delivery service Ocado suspended its website last week, telling customers demand exceeded its capacity to deliver. The firm has said it would fulfil its orders and will reopen again soon, placing rations on certain food items. The share price for Ocado has surged this month, though it declined once it announced it would temporarily stop taking orders.
The telecommunications industry is becoming increasingly
vital in today’s society – although its value (in recent months) has been
recognized more. Consumers have expected the internet to work without
appreciating the importance of the telecommunications industry.
Thanks to the number of people attempting to entertain
themselves, work from home or access educational resources, the telecoms
industry has been pushed further into the limelight. Authorities are putting
measures in place to protect these valuable assets, not only to ensure
consumers are able to continue their daily lives but to ensure emergency
services can continue to function, or research labs can collaborate to create a
The telco industry underpins the success of almost every
element and facet of society, and now the networks are under pressure, everyone
When a region’s economy contracts over several months or even years, a recession occurs. The region’s gross domestic product (GDP), or the sum of the value of the goods and services it produces, declines during these times. At the same time, sudden changes in the cost of commodities like gas or oil are possible. Industries […]
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