ABI Research Analysts share their thoughts on the likely short-and long-term impacts the global pandemic will have on technology and end markets
OYSTER BAY, New York, March 19, 2020 /PRNewswire/ -- The Coronavirus outbreak and the worldwide reaction to the pandemic will force companies to radically rethink how they operate and embrace technological investment, states global tech market advisory firm, ABI Research.
"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," explains Stuart Carlaw, Chief Research Officer at 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
And so much more
"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 says. "In the short-term, there will be a retrenchment in outlooks a reduced investment in modernization, as survival instincts trump the drive to prosperity."
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