COVID-19 Impact on Mobile Augmented Reality in Information and Communication Technology Industry
ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET
The pandemic started with its epicenter in China in 2019 and has been continuously spreading by then to all over the world, so far 216 countries and territories have been affected with COVID-19, U.S. being on the top with cases reaching to about 4.38 million, followed by Brazil, India and then by many European countries such as Russia, Spain, Italy and others. The COVID-19 cases reaching to the big named countries with strong dominance in the market which has adversely affected the economy globally. The spread of Coronavirus has led to the global recession, many companies are being bound to take stringent actions of laying of their employees, small business are being shut, manufacturing facilities are being put on hold. There has been a disruption in supply chain of many industries due to restriction in logistics and closing of manufacturing facilities. In addition, the slowdown in economy has lowered the spending capability of individuals and people are saving money for emergencies.
The pandemic has led to the growth of digital era, the users and industries have shifted to online sources and digital platforms for their daily operations. Mobile Augmented Reality enables digital transformation to be imposed and integrated into the physical environment. Mobile AR is a platform that will help turn their immediate world into learning, work and entertainment environments, with customers now at home during this global pandemic. The mobile augmented reality has thus been benefited by the increasing requirement of mobile augmented reality in gaming, e-commerce, education and other industries. Read in detail...