What Business Opportunities emerge in the Covid-19 Situation for the IT Industry?
Every chaotic event opens up a window of opportunities. With the entire global technological landscape taking the hit courtesy of the coronavirus pandemic, it is up to the strategists to chalk out the pathway towards a more sustainable future. The negative impacts on the IT industry are evident with a significant chunk of the global workforce on the brink of losing their jobs. However, as much as we can lament these catastrophic outcomes, quite a few strategic business opportunities are brimming around for the IT sector.
However, before we move ahead into this discussion, we need to take a look at the existing IT trends that would determine the future of this industry:
IT Trends for the Future
✦ Inclination towards Software-defined-Networking that would allow IT firms to use professionals and eventually self-provision the connectivity requirements
✦ Increased emphasis on cloud-based approaches and applications
✦ IT firms will experience incessant DDoS attacks in the future, making security a pivotal aspect
✦ The emergence of Application-aware networks
✦ Better performance monitoring at the application level
✦ Remote work culture with firms permanently emphasizing on work from home possibilities for a specific part of the workforce
✦ Data-centric approach with an emphasis on predictive analytics
Business Opportunities amid the Covid Scare: Here is how the IT Industry can Rejoice
Based on the existing trends and even the opportunities presented by the crisis, the IT industry will steadily shape up into a significant economic driver in the immediate future. With data being more valuable than ever, it’s only appropriate that we mention the best entrepreneurial opportunities pertaining to the IT industry.
1. IT Consulting
Cloud computing, including cloud-based apps, SaaS architecture, and even the emergence of cloud-based health services, is a business opportunity for the future. Rolled together into a broader scope of IT consulting, Cloud-computing will be a significant boost to the failing global economy. With a massive growth potential, companies should immediately start focusing on IT consulting. Startups might initially face challenges, but the drive will get them through.
Here is one part of the IT infrastructure that deserves all the attention. A majority of startups have been beaten to the pulp courtesy of the existential crisis. Therefore, they would like to bounce back with a massive social presence, effective branding solutions, and accessible CMS strategies.
3. Mobile Gaming
Social distancing has brought us closer to our computing devices. Therefore, in the coming months, the emphasis of the game development community will be on streamlining the arena and coming up with innovative game-playing options. Social integrations of the existing games will keep increasing, thereby driving sales.
4. Application Development
Be it food ordering or connecting with online stores for groceries, applications are floating almost everywhere. With several offline firms migrating online, mobile, and web application development will be productive business ventures to invest in.
Schools, colleges, and other educational institutes might not start functioning soon, and even if they do, the occupancy will be controversial. However, learning will continue with teachers moving to online interfaces for offering lectures and relevant study materials.
6. Data-Driven Businesses
Companies will try to keep the resources handy and use Big Data and predictive analytics for precisely targeting the audience base and their buying behavior. Therefore, eCommerce setups and other direct selling interfaces will increase in number.
Here are some of the immediate business strategies that professionals from the IT industry should start considering. Moreover, individuals can begin chalking out plans for each one of the mentioned entrepreneurial ventures by staying indoors and following the social distancing guidelines.