- Covid-19 introducing a new era of living and doing business
- Going on-line to survive and succeed
- Storage and cloud services prove to be key
- Gaming sector expanding and transforming
- Innovative payment systems
Covid-19 introducing a new era of living and doing business
Comparing a number of industries and the impact they have suffered from the Covid-19 outbreak so far, we are able to get more information on which sectors have proved to be in demand and which have proved fragile in the specific circumstances.
The unprecedented Covid-19 circumstances, even though have introduced a new era of living and doing business, is now around not even for a full year, teaching us what works and what doesn’t from a business perspective.
During the past 9.5 months were the pandemic was slowly spread, some businesses managed to thrive as per demand for their products, while others were forced to shrink depending on government support for survival.
Through this report, we will be considering some of the characteristics that have helped businesses elevate during the virus outbreak and what the future could be like with the new way of living we are entering.
Going on-line to survive and succeed
Starting with the strongest among advantages that had been decisive for business continuation during 2020 so far, were the companies that had in place and developed technologies for remote access operations.
Even though their employees were forced to stay home, their daily procedures were not interrupted.
Also, digitized operations on the clientele front may have been even more useful during the lockdown periods.
Being able to take orders online, produce invoices online, produce online supply operations and even deliver at home, were some of the most valuable operations that were required for businesses to be able to perform well, during the pandemic.
Companies like Amazon, Walmart, Netflix, were among the biggest winners exactly because they had a highly developed digital technology front that was available at the right time.
Startup firms at the moment and in the future will base their business on having their operations and services provided online.
Potential clients at home should be able to find all the details of the services provided by companies via the internet and be able to purchase them also online.
Storage and cloud services prove to be key
Furthermore, cloud infrastructure and software is already dominating the workforce scene and the business scene.
Providers are possibly expanding tremendously around the globe with cloud systems.
The most popular cloud services providers in our view, include Amazon Web services, Microsoft Azure and the Google Cloud Platform.
Some of the most useful tools provided by these firms are Microsoft Teams and Google Meet that help strengthen communication among groups of people and improve business continuity.
Moreover, cloud storage services are also making things a lot easier for businesses that use it in their routine operations.
Cloud storage is all about taking all the important data and saving it on hardware in a remote physical location, which can be accessed via the internet.
With cloud storage, users do not need to constantly update and maintain their software and systems which saves them a lot of time and it allows them to take full advantage of the processing power of their network.
Storage service networks that are known to the public and are good examples are Facebook, Gmail, and online banking apps.
However, despite the benefits of cloud storage and the time saving that follows, storage memory could be in heavy demand for the next years or so.
For example hard disk drives, NAND memory, are some examples that may be enhanced technologically but also in great demand.
In our view, such storage memory will also be required due to the creating of more technological advanced computers and of course the spectacular usage of 5G technologies that are expected to increase data in general.
Gaming sector expanding and transforming
In addition, the lockdowns and quarantine measures have forced a dramatic increase in demand for video gaming.
Video gaming could be broken down to computers and consoles yet the companies that produce these have also raised the bar as per the capabilities of the gamer and the overall experience.
Companies like Nvidia have taken the gaming experience one step further with new powerful chips.
Nvidia noted the chips would be designed and manufactured with the help of Micron Technology Inc. and by Samsung Electronics Co.
It is also said that the new chips could greatly enhance video game graphics and increase the power effectiveness of the overall gaming experience.
In more detail, some of the most remarkable features of the new chips series include a drastic increase of the speed of competitive games and will enable the power system bandwidth to take up 1 terabyte per second (TB/s).
Also the use of artificial intelligence will further boost the speed, performance and cutting-edge capabilities.
We must note that, nowadays gaming is already turning more into a profession than a hobby.
Thus, gamers have increased demand for maximum performance, advanced graphics cards, smooth animation, sharp visuals, 8K resolution all assisting towards an excellent gaming experience.
Then again, Sony PlayStation and Microsoft Xbox are currently competing with each other but have both produced excellent games in the past and have much more to come in the future.
Another sector that seems to be thriving is the computer hardware manufacturing sector.
Companies like Apple have increased their sales dramatically during the pandemic as consumers turn to their products for value and quality.
Apple has managed to increase its sales on iPhones, Macs and wearables displaying consumers’ confidence in the brand.
Innovative payment systems
Our last choice for this report is the financial sector and the technology surrounding it.
Starting with the payment systems of which the majority is expected to become contactless.
Cash withdrawals are expected to decrease as cashpoints may be considered too crowdie for the people that may prefer to pay online or even with a single swipe.
Companies like Revolut that offer a solid network banking that is growing and other digital wallet providers like PayPal that make payments a lot easier and safer could grow in these conditions.
Finally, in our opinion trading and portfolio management services will rise substantially as an attempt to take better advantage of passive money.
Trading is already on the rise with more and more traders opening accounts.
Trading forex pairs, commodities and precious metals are among the instruments that come under volatility during the harsh uncertain times we live in and traders seem enticed by the opportunities or risk-averse circumstances.
A solid methodology could prove beneficial in some cases.
Yet, trading has always been involved with high economic risk and caution is advised.