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Coronavirus (COVID-19) - Technology & Telecom sector Impact - 04 August 2021

Published: 04 August 2021 Code: GDCOV-TR-X078

Globaldata's report on the impact of COVID-19 in the Technology & Telecom sector includes detailed coverage of the Technology & Telecom sector analysis, COVID-19 impact, and sector insights among others.

COVID-19 has now spread to over 198 countries with a total of more than 194 million confirmed cases and over 4 million deaths. The number of confirmed cases is the US is over 34 million, with cases again rising after a sustained period of decline. As in many other countries, most new cases are of the Delta variant, with hospitalizations also on the rise (97% of those admitted are unvaccinated). Total COVID-19 vaccine doses administered have now surpassed the total number of confirmed cases, with a total of over 2.9 billion single vaccine doses administered. China leads in the total number of vaccinations, while Canada leads amongst top economies in the percentage of the population that has received at least one dose of the vaccine.

A concrete summary of the impact of COVID-19:

  • Hiring prospects appear to have been gradually improving since April 2021
  • Nearly 45% of employees report an increase in productivity during WFH
  • Most offices will return to at least 50% capacity in the next six months
  • 3 in 10 employees prefer to visit their office daily after the pandemic
  • Technology will continue to change the way we work over the next three years
  • Artificial intelligence is driving change in working practices
  • Most respondents continue to work from home full-time

Sector insight:

The impact of COVID-19 on the leading companies operating in 17 separate sectors within technology, media, and telecoms (TMT), with all TMT sectors negatively impacted by COVID-19 in 2020, although IT Services has been the hardest hit.

Despite this, some areas — including telecom services, some telecom infrastructure, and cloud-based solutions — are holding up well or growing. Operators moved forward CAPEX to support critical connectivity requirements and are now restarting 5G, Edge Computing and other initiatives temporarily put on hold or slowed down.

Download our free report for more detailed insights on the impact of COVID-19 in the Technology sector.

 

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