While much of the talk around COVID19 centers around the idea that the economy is falling behind, this isn’t always the full picture. There are a lot of technology industries that are thriving during the pandemic.
As needs shift across the world, it’s clear which technologies industries are “essential” and which need to adapt. Now is the time for businesses to use a startup mindset to push forward, creating new innovations to meet the growing demand.
Which technology industries are thriving above others? In this guide, we’ll identify the stand-out stars as well as the companies leading the way. Some of these tech industries might just surprise you!
1. Remote Work Platforms
The first industry that’s undoubtedly thriving during the coronavirus is the world of remote or digital working platforms. It comes as no surprise that more companies are turning to digital solutions like Slack, Zoom, Microsoft Teams, and so on to make it through a remote workday.
With remote working on the rise, companies that traditionally worked in-office need modern solutions for this changing world. There’s a growing demand for video meeting software, online project managers, and secure storage solutions.
Slack’s stock is up 13% right now, and other solutions are quickly trying to compete. Platforms like Facebook and Google have their own workday solutions to simplify remote working, but only time will tell which companies come out on top.
2. Death Tech
If you’ve never heard of “death tech,” you’re not alone. End-of-life planning tools are hardly new, but they’re only recently going digital. As more and more people are suddenly aware of their own mortality during the pandemic, end-of-life and advance care planning technology is booming.
From online trusted decision-maker forms that enable you to make your own advance care decisions to online will makers, there’s a lot of change happening in this industry. It might sound morbid, but it’s never been more important to enable users to make their own decisions when planning for the inevitable.
3. Health and Fitness
With gyms closing across the globe to stop the spread of the virus, people are looking for new ways to keep their bodies in shape. A quick search on YouTube shows you that this industry has been around for a while, but it’s only growing now that gyms are temporarily closed.
Health and fitness apps, telemedicine, and more are all technology industries thriving during the coronavirus. Wearable technology like Fitbits and Apple Watches are also becoming the next big wave in technology. There is even research showing that these wearable tools could help detect the virus earlier.
There’s no denying that downloadable health and fitness tools are on the rise. The only question is whether this will change the role of gyms and in-person classes for good.
4. Meal Planning and Cooking
People have turned to the internet for meal planning and cooking ideas since its early days. However, the coronavirus is introducing a new era of food apps, meal prepping, and online cooking resources.
Tech companies like MealLime are creating simple algorithms to make planning meals at home simpler. This is just the tip of the iceberg, with some of the highest-grossing influencers on YouTube and beyond offering digital solutions, apps, and downloadable.
Last but not least, with so many people staying home, gaming has never been more popular. Technology industry leaders like Activision Blizzard, Nitendo, and Electronic Arts are selling out more than ever before, and even smaller-name game producers are in-demand.
Nintendo, having recently released the Switch and Switch Lite, reported triple profits in the first three months of 2020. This is far from an anomaly, as more people are looking to gaming for entertainment at-home.
A New World of Innovation
These technology industries above are booming like never before. While progress was happening prior to the coronavirus, this pandemic kicked things into high gear. While it might seem strange for a virus to have such a big impact, it revealed to the world what was most important.
These industries above have made such a splash, there’s no knocking them down any time soon. Which areas of technology surprise you? Which do you use yourself? If there’s one thing we can all agree on, it’s that the world needs more innovation.