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The Impact of COVID 19 on the Cloud Industry

Impact of COVID 19 on the Cloud Industry

A single glance at the current state of global affairs, and it’s apparent that the economy is crumbling under the increasing weight of the pandemic. It has become virtually impossible for companies to retain the same level of revenue; some of them have had to let go of whole departments, while others have had to change their business model towards remote work. To put it simply, that companies are experiencing tremendous financial losses and will continue to do so for the foreseeable future, as each market slowly gets back on its feet. 

Then you have the IT sector, and more specifically, cloud computing. This particular niche has been experiencing growth over the last few years, but what is happening right now? With more companies investing in the cloud, migrating to the cloud for smarter storage, greater flexibility, and security, one would assume that these investments could grind to a halt much like all others. Still, the forecast for the cloud industry is far from bleak, and it might just be one of those rare industries that are now blooming even more due to the pandemic.

Cloud-dwelling work management tools on the rise

Larger and smaller enterprises have had to find a flexible solution to COVID-19, so they’ve transitioned to remote work as much as possible. Sending entire departments home can be a difficult decision, as not everyone is accustomed to remote collaboration. That said, cloud-based platforms, project management tools, and scheduling software all enable companies to switch to remote work with greater ease, and to provide their teams with the tools they need to work productively. 

Add to that, cloud-based platforms such as Freelancer or Upwork help those who are currently without a job or have reduced income streams to find side-gigs online. Both of these options depend on the cloud, and people are now using various cloud services without even realizing it, thus growing the industry through remote work in its different formats. 

The promise of greater security 

 Businesses with Secure cloud

For some companies, transitioning to remote work means that your entire IT operation needs to be streamlined via the cloud. That way, your teams can collaborate effectively, grow your digital presence, maintain all of your essential processes, and all that while preserving the security of your business and customer information. To ensure greater business stability during the pandemic and improve cybersecurity, companies now rely on enterprise cloud computing solutions that are based on hyper-converged technology. 

Simply put, it’s more flexible and secure than its traditional counterparts, and lets you utilize all of your key business applications securely. Add to that, the built-in security measures, including firewall, anti-malware, and the like, all allow companies of all shapes and sizes to focus on maintaining their business and their daily tasks, while their core IT processes and security are all taken care of.  

Smaller companies switching to online sales

companies switching to online sales

Wherever you look, small businesses amidst this crisis have been forced to close their doors, at least temporarily. To prevent that “temporarily” from turning into “permanently”, many have chosen to move online and kick-start their social media pages for the purpose of selling, instead of waiting out the entire pandemic. With all of these processes placed securely on the cloud, companies can choose from a wide range of online website platforms to establish their e-commerce presence.

If e-commerce has been growing before, now it’s blossoming. Although there’s a greater need for healthcare products, and most people are investing in those essentials such as food and disinfectants, there are those who are still buying clothes, gadgets, and other items online, too. None of that would be possible without a wide array of cloud-based services on which e-commerce businesses are built.

Streaming services on the rise

Cloud computing has also had a major impact on the entertainment industry, which has experienced a few fluctuations and booms in the past few months. As theaters, cinemas, and other centers that would gather dozens and hundreds of people started to close, online streaming platforms like Amazon and Netflix have become even more popular than before.

Since people spend more of their time online and at home, this has become a major source of fun and relaxation for families worldwide. With 15.8 million new Netflix subscribers during the pandemic, the platform is also taking a calculated stance to reduce innovative offers and solutions for the time being. That way, they’ll be able to prepare themselves for the inevitable losses caused by the latest economic changes. 

The healthcare service sector turning to the cloud

Benefits of Healthcare Company

Now that countries are experiencing a surge in their healthcare systems, with more patients coming in and more cases to handle, this particular sector has become highly dependent on the cloud to be more effective and ensure a more efficient workflow. Medical institutions now create and store their patient databases on the cloud, integrate them with their local systems, and thus keep an eye on the situation with greater ease. This enables each institution to update their data and then report to relevant organizations that track the pandemic.

Also, reducing human error in the process and the increased security that the cloud brings lets these healthcare institutions develop their full potential and focus on patient care. With a growing need for patients to interact with their doctors without actually leaving their homes, online platforms that enable such interactions via the cloud help reduce the workload and the risk of spreading the virus. 

Not a single industry will be able to sail through the pandemic without feeling its negative impact. However, cloud computing seems to have the right potential to minimize or soften the blow to major providers and tech companies and to ensure a safe transition to smaller businesses and thus help the economy grow stronger over time. The role of the cloud will be more refined over the course of the next few months, but the prognosis is clear that every single enterprise, from small local companies to larger ventures, will need to use the cloud one way or another to succeed.

MindxMaster

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