How Global Pandemic has Impacted Information and Communication Technology Industry

  Assignment Help   23rd Jul 2020

Recently, Coronavirus pandemic disease (COVID‑19) has spread its root to more than 200 countries of the world. This epidemic has taken over more lives than any other pandemic occurred in the 21st century. There has been a lot of published articles explaining the Coronavirus and how it is damaging lives and world economy.

One of them came from Trace Media Ltd. and it says that the overall collision of COVID-19 has aimed out to be more critical than any recent decisive economic, political, and strategic conflicts appearing across the world. Coronavirus is not just limited to human health. Instead, this pandemic has affected every existing industry. The information & communication technology (ICT) industry is also one of them. In this blog, we will talk about this more. However, the students can also consider taking the technology assignment help from the experts of BookMyEssay.

Impact of COVID-19 on ICT Sector

The Information and communications technology (ICT) industry was flourishing tremendously in the past few years. The engineers were inventing and developing a brand new virtual world. The offerings of the ICT sector were bringing new applications and services to assist people both with their work and regular lives. Most of the local and multinational information and communication technology companies have recently reduced the majority of their production and manufacturing operations. The corporations have even canceled participating in important conferences and events.

Undoubtedly, the ICT industry has significantly got suffered due to COVID-19 in the first half of 2020. The companies are facing substantial losses. But according to expert analysts, it is determined that the information and communication technology industry will make a stable comeback. There will be an average growth ranging between 7-8% in the ICT industry by the end of 2020. The assignment writing services will provide best assistance for this assignment.

Major Segments of ICT Industry That Have Been Impacted Amid COVID-19 Pandemic

Slow Growth

During the first quarter of 2020, a huge proportion of the ICT sector including IT and hardware services has undergone an approximate 4% drop in profits. These are not anticipated to recover over the next 2 to 3 quarters. It has become mandatory for companies to meet their current deadlines. This is nearly impossible especially when there is a very limited workforce.

It is also making it harder for them to concentrate on establishing new objectives and projects. This is one of the major reasons why the growth of this industry has slowed down. The growth figures are nowhere near the previously anticipated optimistic figures. However, the students can ask experts to write my assignment online to get more details about this.

Revocation of ICT Events

The Coronavirus crisis began in January 2020. Since then all the international ICT gatherings, events, conferences got canceled. Some of the popular ICT industry events that were canceled because of the COVID-19 epidemic are MTN GlobalConnect, Mobile World Conference 2020, Game Developers Conference 2020, and other notable conferences.

This not just happened with the ICT sector but tech leaders such as Microsoft, Google, Facebook, Adobe, Salesforce, Cisco, etc. also canceled their yearly events. These kinds of gatherings bring crucial business opportunities to companies. The companies can showcase new solutions, services, and products. These cancellations have affected future opportunities for so many businesses across the world.

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