May 09, 2020
By Tejaswini Kolli, Senior Analyst & Market Data Associate
In this era, organizations should build strong foundations for their digital technologies, should optimize resources, embrace risk and create value. Needless to say every industry is going to undergo digital transformation. Post Covid-19, there would be continued demand for cloud infrastructure services and specialized software. Increased work from home and online courses will boost demand for security software’s, communication equipment and telecom services. There will be huge demand for automation and Information Technology will play a huge role in Business continuity plan to provide procuring devices, setting up flexible, secure and robust systems with security. There will be more increase in teleconferencing software’s and more demand for faster access to dataleading to adoption of 5G technologies.
There is other side of coin too, firstly, before changing the business plan to attract and retain clients for new demand one should consider falling business travel. So organizations should quickly create a framework for analysis and decision-making before competitors grab over the market share. Secondly, Cybersecurity risks are to increase as more employees are working remotely. Cyber platforms supporting work from homes should be built up faster to avoid such kind of risks. Technology support might fight initially to increased customer requirements on applications and services.Online video streaming, digital services, e-learning, digital payments, e-health are selling a boom, but this spike might not sustain as this pandemic is going to ease in near future.
Considering all these, the strong drive for companies will be how their businesses adapt to new normal and will transform from product-led to purpose-led.