COVID–19 Impact on Cloud Computing in the Semiconductors and Electronics Industry
Overview:
An outbreak of the most dangerous epidemics called Corona Virus disease also known as COVID-19 has galloped the whole world with its worst effects and made world standstill in terms of movements of population, markets, cash flows, and economies. This outburst of virus forced various governments to launch lockdowns and commuting restrictions in the hope to contain this virus from spreading rapidly until the vaccine is invented. Lockdowns indicate temporary shutting of marketplaces, plants, workplaces except for essential services such as medics, doctors, and food markets. Lockdowns have negatively impacted several economies and sectors such as manufacturing, automotive, oil & gas, tourism, hospitality; on the other hand, it has also impacted positively on several sectors such as healthcare, cloud computing industry, and such others. The cloud computing adoption rate has massively increased due to companies offering work from home policies to its employees.
Earlier cloud meant, collection of vaporized water in the sky; but now when someone utters cloud corporates think about cloud computing; that’s’ how cloud computing made a corner space in the minds of computer technology students, aspirants, corporates and industry leaders. Cloud computing was growing at a healthy CAGR even before COVID–19 pandemic due to its features of low costs, application-specific cost and hassle-free storage facilities, since pandemic erupted adoption rate has seen sharp rise in the cloud computing industry. This scenario is mainly due to work from policies, businesses have gone digital, booming e-commerce industry, and other such sectors which require IT services to operate their entities. For instance, Director of ITU, Doreen Bogdan-Martin told, “Cloud computing represents the catalyst and the enabler of the important technological shift that was already well underway before COVID-19”.
Due to lockdown situations, various IT companies started offering work from home to its employees permanently or temporarily, which requires to cloud platform access to its employees in order to get the work done and provide required information portal access. Logically, the majority of the employees worldwide is working from home adoption of cloud platforms and is going to experience a sharp rise. For instance, managing director of Google Cloud India, Karan Bajwa in an interview said, “The one thing we have seen from this unexpected outbreak is the rapid adoption of digital tools as more agile organizations turn to technology to stay connected and productive, as more and more businesses rely on connecting an at-home workforce to maintain productivity, we have seen surges in the use of Google Meet, our video conferencing product, at a rate we’ve never witnessed before”.
Apart from the IT sector, other sectors have also started adopting cloud computing to ensure smooth workflow, such other sectors are e-commerce, healthcare, media and entertainment.
Impact on Demand & Supply Chain:
As described in the overview demand for cloud computing or cloud applications has seen major growth spike majorly due to remote workforce operating for different organizations. The companies that were earlier using the software Read more...