Governments and businesses have adopted sweeping initiatives across the globe to mitigate the symptoms of the novel coronavirus. If the community comes together digitally and flatten the trajectory of the infection of COVID-19, companies must brace themselves for the effects of these tough times.
As customers change their habits and nest at home, media intake, internet shopping sites, and digital wellness applications have seen upswings in usage. In the meantime, preferences for household consumption, overwhelmed by economic uncertainty, may influence the success of other areas of technology.
This article will discuss some technology gadgets that have seen an upsurge due to COVID-19 related lockdown. As netizens are stuck indoors, technology has helped bridge the gap. From work to studying at home, technology has kept the spirits running and certain sectors booming. Let us talk in detail regarding a few such tech gadgets, whose sales have skyrocketed ever since the lockdown.
Although several firms have proceeded to report launches of new devices, revenues could see a year-over-year decline. This is partly attributed to the perception of how budget-conscious users could refuse to consider moving to new cell phones till after the epidemic.
It is also possible to push back new 5G technologies after the industry recovers, stretching customers’ expectations for the expected connection speeds ideal for home streaming purposes.
Mostly during the lockdown, though, devices have also seen robust sales. With the tight lockout, the ever-growing reliance on smartphones has been leveraged. As a means of multimedia content, more and more people are transitioning to smartphones.
As staff and students adjusted at the beginning of COVID-19 towards telework, including digital learning, laptops have seen an increase in demand.
While production and manufacturing constraints resulted in a prediction for a decrease in revenue, schools’ demand would compensate for these declines. This is since, in anticipation of continuing disturbances from the outbreak, educational institutions provide pupils with laptops throughout the Fall. Laptops should withstand the pandemic smoother, unlike tablets or desktops, among all electronic devices, which could see rapid decreases in the wake of reduced customer spending. Most firms have changed their employment structure to workers operating from home. It lets firms cut costs and improves productivity.
Families may update their main sets or buy additional TVs to fit added audiences in the homes to satisfy the criteria of additional hours spent enjoying TV. However, during the period of 2020, the changing market will dull enthusiasm about TV enhancements. The rise of smart TVs has helped close the divide between the internet and TV. With the option of on-demand programming, the future of TV has yet to hit its peak.
As per the COVID-19 Impact Research report from CTA: The use of Home Technologies, many users watch TV or download videos quite frequently than they usually would. More than a fifth of those polled have noticed that they were checking a new online video platform.
The prominence and acceptance of video streaming services over conventional media will accelerate modern stay-at-home habits, expressed in a favorable streaming industry outlook.
To curb the impact of COVID-19, innovations like telemedicine and applications for combating social exclusion have indeed risen to the challenge. Robots provide frontline staff with food and other necessities, while video conferencing systems are being introduced for telework.
The consumer tech market is robust, flourishing in pursuing creativity to solve society’s most challenging problems. Multiple tech sectors are primed for innovation amid the current turmoil or by confronting it head-on. Technology will evolve and grow as a pioneering segment within the post-pandemic globe, interconnected with everyday life.
Technology stocks have seen a surge in funding in the last few quarters. Ever since the pandemic has hit the global economy, stock indexes across the globe have crashed as investors looked to pull out their money in panic. The markets have since then seen quite a healthy bounce back, with IT and Technology stocks rallying. The future belongs to IT and Technology stocks, and potential investors must keep them on their radar. Those seeking to make their jump into the world of trading must visit.