TOP 5 BOOMING SECTORS AMIDST COVID-19 PANDEMIC

Booming sectors during Covid-19 Pandemic

Do you know the whole world got some hints of Covid-19 even before the launch of 4G? In 2015, Bill Gates once said in Ted Talks,

”Missiles and microbes cannot kill billions of people, one highly infectious virus is enough for this thing.”

It states that Bill Gates had some hints about the Covid-19 pandemic, but there is no evidence.

However, Bill Gates’s thoughts turned into reality last year, and Covid-19 impacted everyone, including our mother earth, in unimaginable ways. It has catalyzed the way of working, shopping groceries, pursuing courses, and many other things.

As a result, it has become imperative to know which sectors were benefited and faced losses due to this global pandemic. While it’s too early to conclude, March is the financial month of the year, and we’ll present some relevant facts today in this post!

Today, we’ll discuss the industries enjoying their business despite Covid-19 presence.

Remote Working Tools & Software

As the governments keep announcing night curfew, partial and complete lockdowns, it’s tough for the businesses to maintain a higher productivity level. Hence, companies are investing in remote working tools and software.

As per various reports, Zoom’s shares were raised by 30 percent, and Microsoft Team has more than 40 million users. In South Asian countries like China, WeChat Work and DingTalk were the platforms highly used by the companies for collaborating with the employees. As per the reports, these platforms literally crashed on the first day when the lockdown was announced.

In a nutshell, companies have to increase their productivity level, keeping in mind their overall well-being.

Digital Payment Apps

Paytm encashed the opportunity in a blink. Knowng very well the fear of touching infected cash notes, It reached out vendor to vendor to install its QR code even at a street vegetable shop.

Google pay, Phone Pe, were not behind. However a fee-less transaction directly into one’s bank account is facilitated by UPI method.

Online Learning

As per various reports, schools and colleges are still under the lockdown phase in more than 180 countries. Many underrated remote learning technologies became popular in the lockdown period, such as Google Classroom and Seesaw for students.

Furthermore, massive open online courses (MOOCs) are preferred for training the billions of learners across the globe, especially the employees. Many online learning platforms like Coursera introduced many free online courses and some paid courses were also available for free.

Many first-class universities and business colleges commenced various learning programs for distance and regular learners.

Visit https://www.lstrategyq.com for new skill courses

Medical And Pharmaceutical

In the wake of Covid-19, it became necessary for everyone to have some antibiotics, painkillers, and multivitamins under the belt for fighting with Covid-19. Nearly after one year of the lockdown period, Covid-19 vaccines are available worldwide. As per reports, Canada alone has invested $136 million in the production of the mass vaccines.

In the lockdown phase, online pharmacies enjoyed some tremendous business growth and generated good profits. Thanks to Covid-19, which helped WHO realize the healthcare industry’s flaws that need to be fixed. As per various reports, WHO is planning to invest some undisclosed amount in upgrading the healthcare industry.

Logistics

Logistics was one rare industry that incurred losses and suddenly experienced a boost in revenue during the lockdown period. Online shopping and food delivery chains like Zomato and Swiggy got the freedom to restart operations somewhere in June or July 2020.

The logistics sector’s primary clients are online/offline merchants, online shopping platforms, food deliveries, and retail companies. All these sectors began their operation in the second half of 2020 that adds to logistics demand.

Freelance Sector

Companies preferred downsizing the employees because there were no transactions in the market, and paying bills, rents, taxes, and salaries was not an easy cup of tea. Plus, only a limited number of employees were allowed to enter the workspace; companies preferred relying on freelancers.

The reason is ‘Work From Home’ culture became popular, and freelancers were pretty favorable in multiple aspects for the companies. Many working professionals have turned to freelancers, and they can do some side hustle apart from their primary work.

Without a shadow of a doubt, the industries mentioned above literally grabbed the rare opportunity and made the most out of it without incurring losses. In our opinion, as their demand has heightened, the entire population would rely on them for their needs for the next five years. In a nutshell, 2020 was a life-changing year for us that taught us many important lessons.