Coronavirus: Impact On Software Industry

Coronavirus, another deadliest pandemic that arose after 100 years almost again, originated in Wuhan, China by the end of December 2019 has been declared as a global pandemic by the World Health Organization, which has caused massive damage to the whole world in each and every way. The coronavirus outbreak has infected more than 7,140,171 people with 407,211 deaths around the globe. Its spread has left businesses around the world counting costs. WHO declared the coronavirus as the pandemic that has disrupted lots of businesses including supply chains, manufacturing demand for merchandising, etc. Jatcore, an emerging software house takes the opportunity to present an overview of Coronavirus’s impact on software development and the IT industry. Let’s have a look at the study about the impact of coronavirus.

Everything has its own pros and cons

With the work from home and lock-down in various countries of the world.

China is one of the biggest software development hubs all around the globe. The industry IT solutions and the software industry came across a massive loss due to pandemic. Due to the deeply interconnected market, the global IT and web application development industry felt the tremors from Covid-19 breakdown. the stock markets are also facing the decline, Microsoft production, and closure of Apple 42 stores in China are other indicators of impact on both hardware and IT industry. Hence proving, how coronavirus has completely stopped the whole world.

The Coronavirus impact on software development can be understood from the fact that any business development team needs face to face meetings with the client to discuss the scenario. Nowadays companies are using Zoom but it is not a substitute for everything. The companies which do not own a remote workforce strategy in place have suffered at maximum.

The Global technical supplies are canceled:

Most of the biggest technology brands in the world are dependent on Chinese manufacturing units. Since the lockdown technical units are running the limited operations. Few of them have even stopped the production and temporarily closed their units. This is the reason why the technology industry is facing the shortage of materials and delay in shipping is making it worse. It is expected that the Coronavirus is making a considerable impact with a steep low of 10.1% on technical production in 2020.

Cancellation of tech conferences:

Most of the countries have imposed lockdown and travel restrictions and strictly banned group gatherings, which turned out in canceling the meetings. The sudden cancellation of the events in the software development service industry has also made the tech giants cancel the events around the globe.

Apple WWDC

The industry leader Apple has postponed the date of its famous conference. Apple’s worldwide developer conference 2020 is held to connect millions of software developers and the event was announced to take place in June.

Facebook F8

The conference, which was going to be held in April, had been postponed and happened in May.

Microsoft builds

Microsoft the industry pioneer has also shifted its developer’s meet program. Microsoft’s conference, which allows the developer to meet and share the latest technologies, was also postponed till May.

Adobe Summit

Adobe’s summit 2020 also got canceled and became a live online session. Adobe Summit on products and trend, which pulls the industry forward with the products and trends, and transform the industry.

Dell World:

Dell announced that nothing is more important than health, and therefore the Dell Technologies World 2020 conference shifted to held online.

B2B Tech:

From schools, colleges and universities, companies, and software houses, everything is being switched online either it is a meeting or an online class. Tech companies are facing disruption in the supply chains and losing their respective profits. B2B companies are offering online meetings and conferences which is giving a boost to revenue for custom software development companies

The online video conferencing services are earning a huge income with the adoption of these services. The world leader in enterprise video communication, Zoom earned the net income of $15.3 million in the fourth quarter according to the financial reports. Last year, it was $1. Million.

statistics showing how the pandemic has been a golden chance to some of the companies.

Work from home culture

Due to the lockdowns and spread of the pandemic, the companies have shifted their office work to the remote. Leading the industry, Google, Microsoft, and Apple instructed the employees to work from home.

Work from home is now becoming a trend!

Employees fear to lose their jobs

The pandemic has made the people suffer emotionally as well. People are not only fearful of being infected but also worried about the fear of losing jobs. The majority of people are working from home and this does not give them certainty. Almost 53.8%of employees are concerned about their jobs and according to Forbes, almost 42% of people lost their jobs.

Streaming companies are seeing an increase in engagement

People are being quarantined at home which makes them bored. This has increased the demand for entertainment and video streaming. The gaming industry is reaping the benefits and video streaming is getting high interest because of the web series.

Conclusion:

The government of every country is trying its level best to save its people from the pandemic. The lockdown and work from home are the efforts. Educational institutions, offices, and markets are being shut down for an indefinite time period. The IT industry is taking innovative efforts for coping with the challenges in web application development.

The hardware brands are facing the delay in shipping, B2B tech platforms are spoiled, Streaming and gaming services are increasingly in demand, and online video streaming apps are highly respected. Therefore, there is a mixed effect over the software industry and the industry is moving forward with preventive health measures hoping for the pandemic to end soon and get the things back to normal.