Coronavirus impact on the software industry
The initial outbreak of the coronavirus in China disturbed the global supply chains, but as the outbreak has fully-fledged into a global contagion, the strategies have become very unclear. Coronavirus has presented a condition that was not anticipated by any of the global industries. As the flights are grounded and the majority of countries have introduced norms for regulating the entry of persons, all the industries including software have been interrupted largely. Many associated firms have taken measures in response to this and software development companies like Brill Mindz are supporting their clients to deal with the latest variations in the industry.
How is coronavirus impact on the software industry?
- Companies whose business is related to nations with Level 3 health issues have restricted travel plans.
- If employees have traveled to either China, Iran, Italy, or South Korea within the prior weeks, companies have asked them to be self-quarantined for 14 days from the day they traveled back to those nations.
- With the work from remote location options, there is also a risk of cybersecurity with the risk of unauthorized access to company information.
- Hence companies are having many authentications for employees to access company networks on the laptop and mobile devices.
- There is also a slowdown in the ongoing software business process and also to new business deals. All these issues have resulted in revenue loss for software companies.
How the tech industry is ensuring business continuity in the times of Coronavirus?
In this time of upsurge in the coronavirus outbreak, the technology industry has taken many responsive actions to decrease the risk and deal with this fallout.
- They are aiding companies by keeping people healthy and safe with the wide use of videoconferencing technology made available.
- Even the government bodies are using this smart technology to send accurate information to people.
- A majority of companies have insisted on their employees working from remote places, they are reliant on teleconferencing tools like Microsoft teams, google hangouts, Zoom, etc.
- They are also making use of Virtual Reality (VR) to even disruptions for employees.
What is the impact of the coronavirus in India?
As in the global software industry, coronavirus is having an impact on the Indian market too.
- Companies have asked the employees to work from remote places, postponed all large events and are utilizing collaboration platforms.
- MNCs and app development companies in India are creating awareness among employees by giving all related information and some have also kept doctors as standby.
- An employee who was tested positive for the coronavirus after returning from the US has been quarantined.
- All the companies have fumigated and increased the sanitization procedures at their centers.
Coronavirus impacts on app stores:
According to the latest reports, downloads of travel apps and other popular mobility apps have been reduced drastically. In the meantime, people staying at home are ordering food and groceries more often. Due to this, downloads of food-ordering apps have been increasing significantly. Mobile game apps have become more popular because people are more used to playing games as people are confined and getting bored at homes.
Coronavirus impact: Bangalore IT City:
- Software firms in Bangalore have extended the work from the home measure as per the Karnataka government guidelines to prevent the spread of Coronavirus.
- Being a top mobile app development company in Bangalore, Brill Mindz too has adopted all the measures complying with government policies.
- Companies like Infosys, Google, Dell, Mindtree, etc. have taken measures to keep their employees safe from the spread of the epidemic.
- This measure has been extended until the end of March month and the situation is been monitored by the government of Karnataka to help all the companies in Bangalore.
How the COVID-19 could impact the fast-growing economy:
- Even though the epidemic appears to a slowdown in its origin in China, infections are increasing in Europe, the USA, South Korea, Iran and many other places with governments trying to curb the infection.
- Many nations in Europe and also Japan are already in recession due to slowdown in the economy and resulted in weak slow quarter performance.
- United states have mixed issues, with the virus having an impact on the current quarter GDP.
- OECD has predicted that COVID-19 will lower global GDP growth by one-half a percentage point for 2020 (from 2.9 to 2.4 percent).
How coronavirus could have an impact on Middle East economies:
Coronavirus impact has hit the tourism, oil prices, software and capital markets in the Middle East region. As the economy of the Middle East is hugely dependent on the above factors, this has a huge impact on their overall market. They are taking preventive measures to stop the epidemic from spreading to larger regions. Many Middle Eastern nations are dependent severely on oil revenues, and they will see a major dent in their tourism field if the virus disturbs the pilgrimage season.
How Does Coronavirus Impact Dubai software development?
A few technology-related conferences were suspended over the last two weeks in Dubai. There are also chances of suspending all important Dubai expo 2020 if the impact continues to spread. There would be no permits for Dubai Business events till march end. The software companies and app developers in Dubai are following the same protocol that followed all the IT companies across the globe. Brill Mindz being the best mobile app development company in Dubai, is following all measures to curb the effect of Corona but providing all the support to the clients.
Due to the outbreak of Corona, there is a complete change in the strategies of software businesses and mobile app development services across the globe. There are variations in the app downloads and usage which requires companies to have changed in their business approaches. You can have a comprehensive plan in your revenue generation by associating with the best mobile app development company, Brill Mindz. We initiate all the preventive measures but continue to support our clients in increasing their market through innovative methods.