Coronavirus is a test on companies’ ability to cope with extreme shocks
IT services to be hit by COVID-19 the most: research. Source: unsplash.com
According to GlobalData, COVID-19 is expected to have the most impact on the technology industry in 2020. The research found that the pandemic will put incredible strain on the global economy, which will be effectively halted for 3 months or more.
It is believed that many companies won’t survive the initial phase of COVID-19’s burden, whereas nearly all others will suffer a significant drop in revenues.
The report also found that all sectors will be negatively impacted, with IT Services recording the bleakest long-term outlook. It is followed by Consumer Electronics and Advertising. As to the least impacted industries, those are Gaming Software and Security Software, respectively.
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