COVID-19: Industry Impact and Response

How is coronavirus affecting the industrial internet? What is industry doing about it? Here are news updates from across industries.

Telecommunications

Vonage says it has seen video communications increase by 232 percent from February 2020 to March 2020. In the health sector, overall video minutes spiked by 727 percent.

Technology

Leading players in Chinese blockchain believe that the pandemic has highlighted the fragilities in the traditional financial market, so users may shift their attitudes toward cryptocurrencies. Post COVID-19, there are three main reasons for wider crypto adoption: inflation of traditional money, decrease of the interest rates of traditional assets and greater control of the levers of the economy by authorities.

Healthcare

Experts believe that due to COVID-19, the healthcare industry will experience a short-term positive impact on telehealth and virtual care, home health and medical devices. The negative impact is predicted be on healthcare providers and services, companies running clinical trials and drug companies reliant on the global supply chain.

Technology

IDC is forecasting IT spending worldwide to decline 2.7% this year due to the economic impact of the COVID-19 pandemic. IT spending on hardware, software, and IT services is likely to decline by more than real GDP overall, as commercial IT buyers and consumers implement rapid cuts to capital spending in line with declining revenues, profits, market valuations, and employee headcounts.

Telecommunications

US operators such as Verizon, T-Mobile and US Cellular confirmed 5G deployments remain ongoing despite hurdles related to the pandemic, and reiterated plans to meet previously stated targets for 2020.

Energy

According to RFA, US ethanol sales fell to $12.5 billion in 2020, a 46 percent reduction from the $23 billion that would have been expected absent COVID-19. American farmers have also been impacted, as ethanol typically provides a market for two out of every five rows of corn and more than one-third of the annual sorghum crop.

Energy

The energy sector expects to face two headwinds: managing the issues of the health emergency all sectors face, and simultaneously coping with a low oil-price scenario, lower demand and the need to shore up revenue and manage debt obligations. In PwC’s inaugural COVID-19 CFO Pulse Survey, finance leaders in the United States and Mexico shared their top concerns.

Manufacturing

Industries are looking more into automation post-COVID-19 to decrease the impact of future pandemics. As a result, recent market studies shows the Industrial Robotics market size is projected to grow from USD 44.6 billion in 2020 to USD 73.0 billion by 2025; it is expected to grow at a CAGR of 10.4% during the forecasted period.

Trustworthiness

As a response to COVID-19, many tech companies and governments have started proposing or deploying tracking tools through smartphones. This also brings daunting privacy risks associated with collecting health data from citizens and tracking movements. The World Economic Forum suggests four lessons to ensure the responsible use of technologies in a post-COVID-19 world.

Oil & Gas

The negative oil price today April 20 (100% fall) is for May delivery, and it expires on Tuesday. With the coronavirus pandemic leading to unprecedented demand loss, and with storage tanks quickly filling up, there is no demand for the oil contract expiring on Tuesday. Since nobody wants the oil, producers pay you to get it out of their storage. After this expires tomorrow, the contract for June delivery trades will be about 16% lower at $21.04 per barrel.

Biopharmaceutical

Experts are hoping it will take as little as 12 to 18 months before there is a vaccine available for the public. Also, there are various research phases and clinical trials to test the efficiency and safety for treating COVID-19. See which companies are doing what.

Technology

The Bluetooth in your phone can be enabled to help governments and health agencies reduce the spread of COVID-19, with user privacy and security central to design. Apple and Google released the technical documentation.

Economy

International Monetary Fund: Asia GDP expected to stall at 0% in 2020. This is the worst growth in 60 years including Global Financial Crisis and Asian Financial Crisis.

Trade

World Trade Organization: World trade is expected to fall by between 13% and 32% in 2020 as the COVID 19 pandemic disrupts industries globally.

Wireless

Indeed, connectivity is one of the most important needs in these days of COVID-19 pandemic and very essential to our teleworking. Data usage in March has increases more than 30% compare to Feb 2020. See what the U.S. wireless industry has done to make this happens.

Energy

HEALTHCARE

HEALTHCARE

Product Lifecycle Management

HEALTHCARE

MITRE's infectious disease analytics team published a white paper on how to disrupt the virus' trajectory.

Supply Chain

Accenture offers guidance on what do now (and next) during COVID-19.

Technology

Microsoft is committed to helping nonprofits and IGO's during COVID-19 by offering six months of Office 365.