The coronavirus (COVID-19) is by far the most significant theme to affect the technology industry in 2020. The scale of the crisis has taken everyone by surprise and the economic fallout will have major implications for enterprise consumption of IT and cloud computing resources, says GlobalData, a leading data and analytics company.
GlobalData published a fully revised report, ‘Tech, Media & Telecom Trends 2020’, to reflect the impact of COVID-19 on 17 separate TMT sectors and the leading companies within. It discusses the short- and long-term impacts of COVID-19 on each sector, and ranks on a company-by-company basis the individual impact of COVID-19 alongside nine other themes that affect that sector. All sectors will be negatively impacted.
Chris Drake, Principal Analyst, Global IT Technology and Software at GlobalData, comments: “The crisis will impact different verticals in different ways. For some, it will create a slump in demand and the postponement of key IT projects. For others, it is likely to spur demand for cloud computing and other IT solutions, including edge computing, as organizations accelerate and adjust their digital transformation strategies.
“As businesses shutter their brick and mortar operations and, where they can, transition to a remote workforce, it is clear how important the cloud is for continuity of operations. Any organization that actively resisted digitalization is now confronted with a harsh reality. This puts cloud providers in a strong position.”