The coronovirus outbreak and the worldwide reaction to the pandemic will force companies to radically rethink how they operate and embrace technological investment, states global tech market advisory firm, ABI Research.
In its new white paper, Taking Stock of COVID-19: The Short- and Long-Term Ramifications on Technology and End Markets, ABI Research Analysts look at the current and future ramifications of COVID-19 across technologies and verticals. Analysts also offer recommendations to weather the storm and strategies to help companies rebound and prosper after the pandemic has slowed.
ABI Research. Chief Research Officer Stuart Carlaw said: “To effect change, there must be a stimulation of a magnitude that means companies cannot do anything but make bold decisions to survive. COVID-19 is that magnitude.”
Bold decisions and technological investments could lead to outcomes such as a more concerted and widespread move to lights-out manufacturing, he said.
Carlaw also predicts increased usage of autonomous materials handling and goods vehicles and a more integrated, diverse, and coordinated supply chain.
The post-virus world should see smart cities develop to support community resilience and a more permanent move to virtual workspaces and practices
“Before we feel this potential long-term impact, there will be some serious short-term implications. Contractions in consumer spending, disruptions to supply chains, and reduced availability of components will create a rough sea for all boats”, Carlaw said.
“In the short-term, there will be a retrenchment in outlooks a reduced investment in modernisation, as survival instincts trump the drive to prosperity.”
You can read the full report here