Corona Virus attack across multiple Industries with an impact on the IT and IoT sector
World Health Organization (WHO) states that Coronaviruses (CoV) consists of a large family of viruses that causes illnesses not only in humans but in animals also ranging from the common cold to severe disease that led to death. This is a new strain that had not been identified before to date in humans.
This virus is first identified in cats and dogs then later, get transferred to the humans. Although there is an advisory given by WHO to limit the cause of coronavirus whose common signs are respiratory symptoms, fever, cough, shortness of breath and breathing difficulties.
For more specific information about Corona Virus please check out the website of WHO.
So, we have seen the image on humans by this virus, let’s see its impact on businesses and other industries sectors worldwide.
- Travelling Sector: This sector suffers a lot mainly the country whose mostly economy generates from this sector. Various business trips and recreation activities are now put on hold. Also, a big amount of flights got canceled due to this.
- People offline gathering: Mostly offline meetings like exhibitions, concerts, marathons, conferences, and other events got canceled or being postponed. Businesses in this area sooner or later going to be bankrupt.
- Manufacturing based supply chain: We all know that most of the electronics goods or small or low-level components are manufactured from China and due to coronavirus, the industries in china got shut down. So, the supply of manufactured goods impacts a greater level of business.
- The decrement in Investment: The investors who do investments in small businesses or startups are holding their money due to this crisis which led to an increase in due loans. Also, the startup ventures and both small and middle-companies are at huge risk.
- Transportation Sector: This crisis creates people to reduce the risk of coronavirus as no one wants to catch from it.
- GPS manufacturers: The demand for GPS hardware in the industry keeps increasing but the main manufacturer of GPS is China so these hardwares have been put on hold that creates a pause in the business running on this sector.
- Import and Export of Goods: The import and export sector is majorly affected due to this virus.
When these sectors are suffering there are some sectors whose demands are constantly increasing:
- Delivery Services: The use of the home to home delivery services got a huge increment because of risk in outdoor traveling mainly to go on to a shop.
- IT tools: Mainly the IT tools consist of video conferencing, documentation systems, content and website based businesses that give the useful alternative of the traveling.
- Marketing Industry: The businesses based on online marketing services are a great advantage due to the people using the internet, television at extreme because of entertainment, information, news, and many other things at which the online marketing industry has a big hand.
- Server Hardware and Software industry: The online community is growing very speedily for which more and more server requirements are needed.
- Health industry: Doctors or the health product industry suppliers have a higher profit margin like the mask industry, pharma industries, and many others.
Through these impacts, the stock prices of many sectors and industries are at the low land and people keep removing or taking money out of the businesses at this critical and crisis moment.
This also be considered as the biggest crisis in 12-15 years and it also concluded that this is just the beginning in 2020, its larger impact will be going to be shown in the next year, 2021.
There is a greater chance that many startups and on-going businesses will shut down and major other sectors will get hugely affected by it.
Although the IoT industry is suffering from it a lot it also will be the one that can help in reducing these types of viruses.
The scientific research is going on for the testing and implementation of the reduction of viruses through IoT.
It also said that in around 5 years the product will get ready to implement in real life.
Most importantly, the antidote of the Corona Virus has not been made so, it highly advisable to strictly follow the advisory sent by WHO and keep yourself away from this virus.
- Ankita (IoT Engineer @DKG Labs)