IT Industry During COVID

IT Industry During COVID

November 20, 2020 0 By user15 Scrumstubs
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Introduction

As we all spent our 2020 listening to the impact of COVID-19, the IT industry too felt its spread all over the world. Companies are struggling to adjust them with the restrictions to slow down the spread of the Pandemic. In this process, everybody is rethinking new ways to accommodate business technology needs. 

Impact

The sudden demand for remote working and collaboration solutions has shifted the dynamics of the working environment. COVID has shown us the extent to which industry relies on digital components and how it has become an integral part of IT companies.

Communication and collaboration solutions such as Zoom, Slack, Microsoft Office365, Atlassian are experiencing tailwinds due to dependency on their remote-working capabilities.

Cloud technologies are also playing a pivotal role for sales teams to increase virtual client engagement and giving a chance to development and delivery teams to provide solutions through remote interfaces.

In contrast to the rising demand for communication solutions, the Global IT market growth will decrease to 3% in 2020 and 2021.

However, as per Forrester forecast, there is continued growth in demand for cloud infrastructure services and potential increases in spending on specialized software.

IT Companies will need to work on their long-term plans, strategies and should think around how COVID-19 will impact their business going forward. Now is the time of high adoption for digital tools and collaboration solutions to create a contactless working environment that may continue in the future also.

IT industry - Aleph gloalscrumteam
Forrester Forecast

Conclusion

IT Business leaders should start working on business processes that could provide long-term value even after everything gets normal. Focused should be on planning to mitigate the risks to organizations. We don’t know the length of the pandemic but we can take the lessons and make robust plans for the future.

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Resources

  1. https://www.computer.org/publications/tech-news/trends/the-5-most-important-ways-the-coronavirus-will-change-the-it-industry
  2. https://www.ey.com/en_ca/technology-sector/covid19-technology-sector-perspectives
  3. https://www.computereconomics.com/article.cfm?id=2788
  4. https://www.forbes.com/sites/louiscolumbus/2020/03/16/covid-19s-impact-on-tech-spending-this-year/?sh=198d29c62d67
  5. https://go.forrester.com/blogs/new-forrester-forecast-shows-global-tech-market-growth-will-slip-to-3-in-2020-and-2021/
  6. https://www.forbes.com/sites/bernardmarr/2020/03/20/why-companies-turn-to-digital-marketing-to-survive-covid-19/?sh=627430142425
  7. https://www.pwc.com/us/en/library/covid-19/coronavirus-technology-impact.html