IOT NEWS

Industrial IoT News

Industrial IoT Home

COVID-19 Forces Companies to Rethink Technological Investment

By Ken Briodagh
March 18, 2020

The Coronovirus outbreak and the worldwide reaction to the pandemic will force companies to radically rethink how they operate and embrace technological investment, according to a recent report from tech market advisory firm ABI Research.

In its new white paper, Taking Stock of COVID-19: The Short- and Long-Term Ramifications on Technology and End Markets, ABI Research Analysts reportedly look at the current and future ramifications of COVID-19 across technologies and verticals. Analysts also offer recommendations to weather the storm and strategies to help companies rebound and prosper after the pandemic has slowed.

“To effect change, there must be a stimulation of a magnitude that means companies cannot do anything but make bold decisions to survive. COVID-19 is that magnitude,” said Stuart Carlaw, Chief Research Officer, ABI Research.

Bold decisions and technological investments could lead to outcomes such as:

  • A more concerted and widespread move to lights-out manufacturing
  • Increased usage of autonomous materials handling and goods vehicles
  • A more integrated, diverse, and coordinated supply chain
  • Investment in smart cities to support community resilience
  • A move to virtual workspaces and practices

“Before we feel this potential long-term impact, there will be some serious short-term implications. Contractions in consumer spending, disruptions to supply chains, and reduced availability of components will create a rough sea for all boats,” Carlaw said. “In the short-term, there will be a retrenchment in outlooks a reduced investment in modernization, as survival instincts trump the drive to prosperity.”

For a clearer picture of the short- and long-term global impacts of COVID-19, download the whitepaper Taking Stock of COVID-19: The Short- and Long-Term Ramifications on Technology and End Markets.


Ken Briodagh is a storyteller, writer and editor with about two decades of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

Editorial Director

SHARE THIS ARTICLE
Related Articles

New Collab Between Scanbot SDK and Cypher Robotics Set to Automate Wearying Warehouse Inventory Processes

By: Alex Passett    3/26/2024

Scanbot SDK and Cypher Robotics have officially partnered to streamline warehousing and inventory cycle counting processes.

Read More

Digi IX40: Details About this 5G Edge Computing IIoT Cellular Solution for Industry 4.0

By: Alex Passett    3/20/2024

Earlier this month, IoT/IIoT connectivity products and services provider Digi International announced the market launch of Digi IX40.

Read More

Bear Robotics Secures $60M in Series C Funding Round, Supported by LG Electronics

By: Alex Passett    3/18/2024

Last week, Bear Robotics announced the completion of a $60 million Series C funding round, which was led exclusively by LG Electronics.

Read More

Industrial Cybersecurity Forecasting, Courtesy of Kaspersky

By: Alex Passett    3/15/2024

Kaspersky recently presented an industrial cybersecurity review for a number of international entities, outlining key cybersecurity challenges for ind…

Read More