We are all feeling the effects of the coronavirus pandemic in these uncertain times. As many small businesses are forced to go out of business and millions of Americans have filed for unemployment benefits to keep food on the table, the impact the coronavirus has had on technology may not be the first thing to come to your mind. Still, there has been a significant impact on the technological industries due to the coronavirus.
Today, TeknaByte will be highlighting four ways in which the coronavirus has impacted technology and the industries associated. Each of these impacts caused by the coronavirus have had dramatic effects on the technological industry. As Indianapolis’s premiere IT consulting and IT management firm, we feel it is our responsibility to remark on the impact of the coronavirus on our industry. With that, let’s get started!
Major Disruption to Supply Chains
One of the biggest impacts that the coronavirus has had on technology is found in a major disruption to supply chains. Considering the fact that the coronavirus originated in China, that region in particular was hit hard with a large number of citizens being forced into quarantine.
This led to either the partial or complete shutdown of factories and plants where prominent technology companies were unable to continue manufacturing their goods and products. Apple, for example, suffered a shortage of its supply of iPhones due to its primary manufacturer, Foxconn, having to shut down much of its production in China.
This major disruption to the technology industry’s supply chains could have big effects on the IT industry as a whole. When the technology used in everyday business practices is unable to be manufactured, processed, and shipped out to recipients, it is clear that this causes a disruption in the everyday processes of those relying on those shipments – the IT industry included.
The Impact of a Greater Need for Remote Interaction
There has also been a clear shift in the need for greater access for remote interaction in the technology industry due to the coronavirus. Thanks to the lightning-fast speed of 5G and near-instantaneous communications, remote interaction has become a basic need for many in the wake of the coronavirus.
Two key areas, in particular, to see an increase in the need for remote interaction technologies are the areas of teleconferencing and telehealth. These have become increasingly important areas for enterprise operations in the wake of the current pandemic, and it is predicted that the increased need for remote operations will strengthen the appeal of 5G overall. After all, many of us are holding business meetings and communicating with our workforce through remote interactions, and this presents a huge need for remote interaction in the technology industry and beyond.
Major Tech Conferences Cancelled Due to Coronavirus
Another effect on the technology industry that proves impactful on the IT industry as well is the cancellation of major tech conferences due to the coronavirus. Most notably, the Mobile World Congress which was scheduled to take place between February 24-27 in Barcelona was canceled amid concerns of the coronavirus outbreak. The Mobile World Congress is considered to be a cornerstone event in the connectivity and technology industries where some of the most prominent companies in the world come together to share ideas and foster new business relationships.
With major tech conferences such as the Mobile World Congress being cancelled due to the coronavirus, it is clear that this will prove impactful on the technology and, as a result, the IT industry. After all, when such events are cancelled we miss out on valuable opportunities for the biggest names in technology to meet, expand business relationships, and create new innovations. While many of these events are set to be rescheduled, it is clear that this is a particularly poignant effect of the coronavirus on the technology industry.
Greater Investment in Smart City Solutions
In an attempt to mitigate the overall impact of the coronavirus, many cities around the world have elected to utilize smart city technology. One example is the police force in China who have begun using drones and thermal sensors in order to identify public populations who are running a fever.
With these types of investments being made in the wake of a crisis such as the coronavirus, it is likely that the need for smart city solutions will be deemed much more important in the future. Business Insider Intelligence predicts that the investment in smart city solutions will reach $295 billion by the year 2025, which is an estimate up from $131 billion in the current year. This is sure to have a particularly far-reaching impact on the technology industry as the years go on.
IT Services You Can Count on in Uncertain Times
As you can see, there have been significant impacts on the technology industry due to the coronavirus. Despite this, it is crucial that your business has the help of an IT consulting and management firm that has your back even in uncertain times. That’s what TeknaByte is here for.
From our managed IT services to our focus on cybersecurity solutions, TeknaByte is the team of experienced IT professionals that you can count on even in the wake of a pandemic. Technology is more important than ever, and it is our belief that you need the expertise of our experienced professionals to keep your business running in a time so reliant on the use of technology. Contact us today to learn more about the services that we provide.