The pandemic has had a considerable effect on the financial sector. Not only has it changed the way people go about their daily lives, but it has also affected the way business is conducted. Many industries have felt its after-effects and struggled to continue their businesses under such conditions.
However, there are a handful of industries that have managed to survive and even thrived, during the pandemic. These businesses have secured a place in future markets and will continue to evolve and grow with their changing environment.
There are a number of reasons why some industries are succeeding in staying afloat, while others are sinking fast. The four main reasons for their survival is an industry’s flexibility in their working methods, having a prominent online presence, a business’s adaptability and how well they prepare for the worst.
The industries that have managed to survive the pandemic are not new. But they have made their mark so far as being essential and beneficial to the economy. These industries include the e-commerce industry, broadband industry, pharmaceutical industry and the video platform industry.
The e-commerce industry gained a lot of traction during the pandemic. When governments all over the world introduced lockdown measures and limited human contact, consumers were compelled to change their purchasing habits.
As soon as physical stores began to shut down, store brands that already had an online presence increased their promotion through their website and managed to survive during lockdowns. This is when online retail stores saw a boost in sales by USD $174.87 billion in 2020.
One of the largest online retailers, Amazon, saw an increase in traffic during the pandemic. With the prolonged lockdowns, consumers have relied on online retailers for almost everything; from home staples to groceries.
The trend of online shopping has definitely gained popularity and it does not seem to reduce any time soon. E-commerce has definitely made its mark on the economy and has facilitated a new way of consumer behaviour.
Fig 1. Online shopping (Source: Pexels)
An internship in e-commerce will not only give you the experiences and knowledge you need but it can also be very insightful, where you can learn about the new rules and policies of retail and how the markets are dramatically changing, especially now.
For the pharmaceutical industry, COVID-19 actually acted as a catalyst for its digital transformation. The pandemic accelerated the industry to make some necessary changes in the way it provided healthcare, improved production, greater transparency and made medication more accessible and cost-effective.
Due to the pandemic, the pharmaceutical industry had to move fast to come up with solutions and overcome the challenges posed by COVID-19. In order to provide adequate healthcare and medical assistance to the public, the industry rapidly adopted technology to assist them. As a result, it is estimated that the pandemic accelerated the industry’s digital transformation by more than five years.
Fig 2. Medical pills (Source: Pexels)
Some of this technology included cloud computing and cybersecurity. These digital aids ensured that the industry was able to work remotely and perform decentralized clinical trials. Patients are able to seek medical help and assistance at their convenience and from the safety of their own homes.
Start your medical internship with AIP and be a part of an industry that is evolving before your eyes. Take this opportunity to learn about the new direction that the pharmaceutical industry is taking and dive deep into the knowledge gained during this experience.
When a majority of the world economy shifted from their physical workspace to working from home, the demand for software installations and social media platforms increased significantly.
This has greatly benefited the IT industry, boosting the market and helping it sustain for at least the next five years. One of these industries in specific is the Broadband industry.
People have become increasingly reliant on the internet and technology and this has had a positive effect on the broadband industry. With an increasing amount of people working from home, the demand for solid bandwidth, high-speed internet with a strong WiFi connection is also growing.
Fig 3. Free Wifi sign (Source: Pexels)
Broadband companies have facilitated the process of people working from home and those who want to communicate with their doctors, clients and loved ones conveniently. The use of broadband services skyrocketed during the pandemic and has since solidified itself as an essential and even a staple service in the market.
The boost in business will have a lasting impact on the industry and will continue to grow in demand as the economy shifts and adapts itself to its changing environment.
If you want to be a part of this development in the industry, an IT internship with AIP is a great place to start. You will learn about all the latest technologies and services provided by the industry and gain first-hand experience in your specific field of interest.
Video Conferencing Industry
Another IT industry that has seen considerable growth in the last year is the web-conference industry. Web-conferencing has been used by companies even before the pandemic to communicate with overseas clients and business partners.
However, now the video platform industry has seen an increase in use, not only by companies but also by students for education and by families who want to communicate with their loved ones. Some of the most popularly used web conferences are Zoom, Google Hangouts, Watsapp Video Calls, Webinar and Microsoft Teams.
Fig 4. A business conference call (Source: Pexels)
These video platforms have become very important in our daily lives now. And in order to maintain this success, video conferencing services shave ensured that their platforms are user friendly and can be used by people of all ages. And more importantly, strict security measures are being put in place to maintain the protection of the users’ private information.
The web-conferencing industry has been around for many years. But the shift in the working culture has boosted up the industry to where it is now. It has made learning, conducting businesses and meeting people much easier.
Start your IT internship with AIP and learn more about this growing industry of video conferencing. Companies are constantly adding new features and enhancing old ones to make the platforms more user friendly. By starting an internship here, you can become a part of an industry that has the chance to shape the way people work and conduct business in the future.
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If you are unsure of which industry will benefit you in the future post-COVID, the list of industries mentioned above is a great place to start. They are predicted to have a major influence on the market and on people's livelihood. Visit our website and find out more about our internship programs!