Although many industries are being hit hard due to current economic & health crisis caused by COVID-19, a lot of sectors which seems promising & are poised to grow include remote & big technology such as cloud computing, omnichannel retail & delivery, video & content streaming portals, online health, delivery apps, edutech & online collaboration tools. These businesses are holding steady & some of them are even thriving. With work from home & social distancing becoming the new model of working, these technology enabled businesses are becoming a front runner in today’s new age businesses.
We are sharing some of the trends picking up:
- Increase in demand for cloud computing services: For companies managing their internet infrastructures, adjustment to computing needs on the go is expensive & obscure. Cloud computing makes it easier & straight forward with companies ditching their own data centers for renting out shared/exclusive cloud spaces offered by Amazon, Microsoft & Google. This is going to shape up since millions of employees have been asked to work from home putting a strain on corporate technology infrastructures. This will open up cloud computing marketing for new players & can lead to increase in demand for workforce in these cloud computing companies.
- Use of remote collaboration tools: Demand for new business & collaboration tools are picking up with companies such as slack & Microsoft launching new offerings to meet the demand for online meetings & collaboration. Zoom has seen exponential increase in their user base. Number of users on Microsoft teams has increased by a whopping 40%. Besides, project management & workflow management tools offered by companies such as Notion have picked up given professionals have been made to work from home & remote locations.
- Grocery delivery apps: With shoppers now reluctant to visit offline shops/retailers, a large proportion of them are turning to Amazon & various other online delivery businesses for essential items including groceries & over the counter drugs. Amazon is hiring 10,000 plus warehouse workers to meet the spike in demand. Although it was difficult to trust Amazon with Groceries, this Pandemic has changed the mindset of consumers. Other grocery & delivery apps such as Instacart, Grofers, Walmart Grocery & Delivery are seeing record increase in the number of daily downloads.
- Demand for video streaming portals & social media platforms: Voice calling over whatsapp calling has doubled. Facebook messenger has also observed similar growth. Download of Netflix app has seen extraordinary growth with 66% & 35% growth in Italy & Spain respectively. With movie theaters closed due to Pandemic, we have seen an increase in audience for netflix, prime video & youtube.
- Digital Health & Fitness: The year 2020 can turn up to be a year of transformation for health & fitness given that Pandemic has put pressure on the global healthcare system & fitness sector. Currently the health care sector us understaffed & lack of resources to meet the growing number of Coronavirus cases. This is the reason why we are turning to digital health companies to play a vital role in protecting those stuck at home. With closure of gyms, online fitness is picking up. We are observing new & disruptive online fitness models taking shape. Going forward with sensitivities associated with gyms & health clubs, people would be more inclined to indulge in workout at home through various online fitness models.
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