The novel COVID-19 came in like a tidal wave that has changed most sectors of the economy. The ongoing impact of the coronavirus is still widely visible and significantly affecting a number of industries. Reduced mobility has curtailed business in some industries while others continue to thrive as they work effortlessly to meet consumer demand. Unemployment is rising at an unprecedented rate, supply chains are being disrupted, and the public health crisis continues to escalate in many countries. In spite of the injection government incentive packages, the pandemic is still affecting a majority of industries in the economy. Below are four major industries that have not been hurt by the COVID19 pandemic:
The online gaming industry in the UK has been experiencing an explosion in terms of increased players. These sites are experiencing major growth with this growth expected to reach $102.9 billion by 2025. Online gambling companiess appear to bethriving through the pandemic as compared to their brick-and-mortar casinos. Online gambling only requires a PC or smartphone with reliable internet connections, which most people already have access to in their homes. With the lockdown looming in every country, there is extra time and fewer things to be done, which has led most people to online gambling to make an extra coin.
The boom is only being experienced in regular online gambling opportunities like poker tables, roulette, and slots. Sports betting has been taken aback even with organizers of all major sports events from across the globe including UEFA league, athletics, and horse racing being forced to cancel tournaments to prevent the spread of the disease in large crowds. Without sports betting, online gambling companies such as Lottoland have introduced new games on their list including incorporating the iconic Deal or No Deal show on Lottoland. This is addition is to provide players with a wide variety of game options to take advantage of during their extra time in the house.
Online Education and Remote Learning
With schools suspended in the looming pandemic learning institutions have turned to online education and EdTech companies have found new opportunities in remote learning. The education sector in every part of the globe has resulted in online learning to continue with their syllabus. While this has been adopted as a temporary measure for this period, there are new opportunities being realized with remote learning and this could be expanded even after the pandemic. Education companies are launching more e-learning courses while developing data tools to evaluate student performances and help teachers track progress.
Video streaming in other areas of life has allowed people to acquire new knowledge on how to perform certain skills and duties. Podcasts and Webinars have become common as companies that provide essential services and products to educate customers about their products while offering options on how they can access them during the lockdown period. Furthermore, services are trying to ramp up the competition by offering discounts on subscriptions to lure customers away from established services. During this period, be sure to learn new skills including new recipes, home workout exercises, and car maintenance tips that will help you save money after the pandemic.
Healthcare and Pharma
If there is one sector that has grown tremendously is the healthcare industries with governments and companies pumping in money and resources towards improving healthcare infrastructure. Although the increased focus is on PPE kits, resting kits, hospitals, and pharmaceuticals, there are better and streamlined services in the sector that will improve the provision of healthcare services even after the pandemic. Looking into the future, there will be an increased focus on preparedness and improving disease response capabilities, which will also see further investments being pumped into this sector. Research institutions will also benefit from new investments and funding to expand their research in pharmaceuticals to find curative drugs and vaccines for diseases such as COVID19.
Within the lockdown, social distancing and staying at home has made people cautious of their interactions hence minimised their interaction in conventional brick-and-mortar stores. People have resulted to e-commerce markets to do their shopping. eBay, Amazon, and Alibaba have seen a remarkable increase in the number of online shoppers. There is also a growing opportunity in the niche of grocery and online food retailers with mobile applications becoming more common among consumers. Grocery delivery and recipe apps have outperformed in the e-commerce sector as people aim for contactless delivery services. The only challenge for these e-commerce stores is the lack of enough stock to meet the looming demand among consumers. Ecommerce companies in the US including Asda have started a non-contact delivery system with secure drop-off and pickup locations to avoid putting delivery workers and customers.
As the Corona pandemic continues to create financial uncertainties across industries in the global sphere, companies will be required to adopt new strategies to reach their market. While e-commerce, gambling, healthcare, and online education industries continue to thrive amidst the pandemic, they will also realize innovations that will be crucial to their success even after the pandemic.