The economy of the world has been hit hard by social distancing and quarantines but the business tech industry is flourishing in order to bear the ‘new normal’ state. According to a Crunchbase report, industries that are linked directly to tech are seen to boom post 2020. Researchers at Crunchbase found out that the venture capital flows into companies focused on remote meeting, telehealth, biotech and med, collaboration software, educational tech, digital payments and cybersecurity.
Without curtailing the damaging impact of COVID-19, it is necessary not to lose sight of the online business opportunities that are currently emerging. Take a look at the 5 areas of tech that will mushroom post pandemic.
HEALTH & WELLNESS
As there is a persistent worldwide health emergency, it’s an enormous opportunity for the health sector to play the role of a necessity among users. Although the health and wellness sector already branded themselves as climactic and the sole mechanism that people needed, this industry is all set to rise and become one with the maximum growth perspectives. From a boom in Oximeters to quickly checking a patient’s blood oxygen levels to a COVID-19 sanitising station developed by UK firm SanitiStation, numerous measures are being taken to keep the health of people under check.
Tutoring, online education and online courses have risen up to be the need-of-the-hour when educational institutions, schools and colleges are not permitted to open. Hence, it is needless to mention that the online education sector has gone through a sudden growth as people from different walks of life, belonging to COVID-affected nations, are looking forward to alternatives of traditional teaching. Monetizing on the inhibitions of parents who don’t want to send their children to schools, the ed-sector is tapping on to every potential entity.
REMOTE WORKING TOOLS & SAAS
During the pandemic, remote working tools and SAAS are prerequisites for achieving success. With the erratic changes that we’re most likely going to witness, remote working tools and SaaS applications will accelerate the projects and pave the path for future endeavors. These applications play a crucial role for the majority of commercial operations and a safe haven for existing businesses.
ONLINE GAMING & OTT PLATFORMS
Online gaming and over-the-top media, during the pandemic, moved above many traditional forms of entertainment. Considering the constant restrictions and bans on gaming hubs, movie theatres and other amusement arcades, the world of online gaming and OTT platforms have successfully bridged the gap. With the proliferation of these platforms, the need for stepping out of the house for garnering any form of entertainment may soon be replaced.
PHARMA, PATHOLOGY, LABS
One more sector that emerged as a winner is Big Pharma, pathology and the lab sector. In the wake of the COVID-19 pandemic, the majority of the population have an increased need for proper health facilities and medication. Once the COVID-19 vaccine is developed successfully, the Pharma industry will change forever. People working in this industry will serve a noble cause and many companies are likely to make a fortune out of this pandemic.
To conclude, the future is gloomy for all of us. Economies are still not certain about growth and widespread unemployment looms large through the upcoming quarters. However, the above listed sectors will shine through even in the cloudiest weather.