DUBLIN, April 23, 2020 /PRNewswire/ --The "COVID-19 Impact on ICT Industry (2Q 2020 Edition)" report has been added to ResearchAndMarkets.com's offering.
Select Report Findings
- 5G expenditures for core networking will be delayed
- Opportunity areas include private network optimization
- Will be a much greater focus on specific business solutions
- Certain industries and app areas will enjoy long-term benefits
- Opportunities for expenditures that drive operational cost reduction
This report evaluates the impact of COVID-19 on the ICT industry including opportunity areas for application growth and support services as well as the negative effects on investment and previously anticipated ROI for key areas such as 5G and other areas important to the telecommunications and IT ecosystem.
The report addresses many major areas including 5G, Artificial Intelligence, Asset Tracking and Management, Autonomous Vehicles, Big Data Analytics, Cloud and Edge Computing, Cybersecurity, Healthcare Solutions, IoT, Payments, Public Safety, Robotics, Smart Cities, Social Credit Systems, Teleoperations, Wearable Technology and other areas such as Digital Transformation initiatives.
The report analyzes the impact of the COVID-19 coronavirus pandemic on ICT investment, strategies, and plans in the aforementioned areas as well as other emerging technologies and solutions. The report includes an assessment of the impact on each technology and solution area including both opportunities and challenges. This includes risk analysis and mitigation strategies for negatively affected areas and recommendations for investment in opportunity areas.
The impact of COVID-19 on economic activity is manifest in everything from diminished consumer discretionary spending to a freeze on business expenditures including capital budgets, hiring, and reduction of everything but essential operational expenses. Stated differently, virtually any substantive business expenditure that is not absolutely necessary is on hold. The exceptions are those that are critical for operations and/or clearly net positive from an expeditious return on investment from a cost reduction perspective.
Certain aspects of the Information and Communications Technology Industry (ICT) are benefitting from health concerns and social isolation. Some of the more obvious immediate ICT opportunity areas are telework, telemedicine, food delivery and logistics, online and contactless payments, remote learning and entertainment.
However, there are some less obvious impacts longer-term that involve public safety, identity and security management. These will be long-term opportunities for companies to capitalize upon the fallout of COVID-19 in terms of readiness for the next pandemic and general concerns relative to how consumers and business relate to one another now that the world understands that deadly viruses are a global issue and likely an ongoing concern.
There will also be some structural negative impacts on ICT investment and ROI, most notably on 5G, which will be impacted significantly in terms of network evolution, services penetration, and application usage. Business solution revenue will become more narrowly defined to those areas with immediate need for enterprise, industrial, and government 5G customers. Emphasis will be on quick ROI and primarily cost reduction.
The impacts range from retail customer issues, such as 5G phone availability and consumer willingness to pay, and business customer issues, such as a more immediate focus on expenditure in areas that enabled cost savings for existing operations rather than those that represent an investment in business growth. The pandemic is anticipated to amplify the gap between consumer and business 5G services with the former losing significant ground relative to the latter.
Key Topics Covered
1. Executive Summary
2. Overall COVID-19 Impacts
3. COVID-19 Impact on ICT
3.1. 3D Printing
3.2. 5G and 6G
3.3. Artificial Intelligence
3.4. Asset Tracking and Management
3.5. Autonomous Vehicles
3.6. Big Data Analytics
3.7. Cloud and Edge Computing
3.9. Drone Based Delivery Solutions
3.10. Healthcare Solutions
3.11. Internet of Things
3.12. Payments Solutions
3.13. Public Safety
3.15. Smart Cities
3.16. Social Credit Systems
3.18. Wearable Technology
4. Conclusions and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/itg8f4
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SOURCE Research and Markets