The unexpected rise of the COVID 19 pandemic has been the harbinger of unprecedented growth in the global OTT market. Even before the lockdown started the OTT market had grown by 15% in 2019. With the pandemic on a rise and lockdowns being extended, people are afraid to venture out. Most of the cinema halls, malls, adventure parks have been shuttered for a good part of this year, and consumers are left with very few entertainment options. They invariably seek to find means to entertain themselves in the safe confines of their homes. And this is where OTT platforms have come to the rescue.
The ongoing pandemic has indeed accelerated the demand for certain technologies/trends that will either help various industries in maintaining the “new” standard operating procedures at the workplace or transforming the way business is done in order to generate new sources of revenues
Let us pick up some industries and evaluate how the pandemic has made way for certain technologies/trends:
Industry reports predict the mixed impacts of COVID-19 on the IoT market. From the technology perspective, enterprises are looking at CAPEX reduction over the short term and automating processes to make supply chain and manufacturing more flexible over the long term. Specific IoT applications like remote asset tracking, drones, healthcare, smart cities with easy to install IoT solutions will have an uptake over the coming weeks.
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