Pandemic Changed the IT Industry Forever

The pandemic disrupted what we knew as normal; unfortunately, many businesses could not keep afloat and had to shut down, governments imposed lockdowns and cessation of movements, and social interaction became a thing of the past. The pandemic also caused unprecedented and drastic changes in many industries; automobile, hospitality, retail, and Information Technology is no exception.

Generally, many sectors only experienced negative impacts of the pandemic on their businesses. However, they say every cloud has a silver lining; some business sectors had both positive and negative effects; IT has managed to tackle the pandemic decently, keep its workflow consistent, and become the savior of other businesses.

Research shows that revenue of the IT industry collected USD 190 billion for the year 2020-2021, with an expectation to rise by 2025 to between USD 300-350 billion. IT expenditures have increased by almost 10% in the leading companies in the IT sector. As people shifted to remote working, there was an impressive business expansion for digital platforms and cloud software. The pandemic has also pushed roughly 38% of tech organizations to enhance their IT operations. All these show how much the pandemic has boosted the IT industry. So what are the adverse effects of the pandemic? How did the lockdown affect the IT industry?

Despite the shift to online solutions, the reach was not the same as it would have been had people gotten the chance to network at the conferences. Many companies forced their employees to work from home to avoid social interactions, and this made these companies experience losses in opportunity, especially those with international dealers.

Many tech conferences were also canceled, so companies missed partnership and expansion opportunities.

Compared to other industries, the impacts of the pandemic on the IT industry were quite "forgiving," not as ruthless as other industries have experienced. This is not to say that the negative impacts of the pandemic on the IT industry should be ignored. The pandemic was a blessing in disguise for IT companies as the lockdown increased demand for social media platforms and software like Zoom and WhatsApp, which helped people stay in touch with others, keep safe and keep up with work.

How did IT companies adapt to the changes that came with the pandemic?

We have seen that the pandemic forced companies, even the ones in the IT industry, to shift to remote working. There have also been increased IT expenditures to cater to the growing demands for software and digital platforms for people to do their work. Internet connectivity was also incredibly sort after. However, as people shifted to digital media, increased the risk of cyberattacks, hacking and cyber threats are becoming more complex daily. So how have IT companies adapted to these changes?

• With the new normal of working from home, companies in the IT industry have incorporated a hybrid working system where employees can work from home and at the office occasionally. This way, even in the aftermath of the pandemic, they can still take precautions to ensure their workflow is safe, consistent, and productive.
• These companies have increased their resources on cybersecurity to ensure that their services and products are not vulnerable to cyber-attacks.
• Companies in the IT industry have increased their services and workforce to cater to the growing demand for software and digital use; the need for 5G network has led to more opportunities for the IT industry.
• The future is technology; with the many technological advancements, many industries are working to keep up with the growing trends, ensuring that they provide their clients with the latest and most up-to-date services and products.
• The pandemic brought so much scare to the world at how things can change in an instant; therefore, these companies are coming up with apps to make life easier; as people are scared of repeating the same, many industries are shifting to providing services digitally.

Once things get back to normal, some sectors will work the same as pre-covid, albeit with minor changes here and there. However, the IT sector needs to look at the bigger picture and work on solutions that ensure their operations and those of other sectors like education, health, food, and banking work seamlessly even amid a pandemic.