Covid-19 pandemic has shaken the economy of many countries. Covid-19 has infected many people and the death count is increasing every day. Additionally, it also impacts the economy, curtailed economic activity, and reduced mobility. As a result, many industries that have been dependent on physical activity have been impacted. But there has also been a spillover effect in many industries.
Industries play a major role in the development of a country. There are Some important factors of industries that help in the development of a country. They are economic stability, utilization of natural resources, improvement of government revenue, investment, and spending. In this covid19 crisis, many industries were affected badly. Such as Airline, travel, tourism, automobile, retail, textiles, wholesales, education, and film industry. Even some IT industries are completely affected due to the covid-19 pandemic. But it does not affect some industries in this crisis.
In this article, we take a look at some industries that have not been impacted and are surviving this pandemic.
Healthcare and pharma
In this covid-19 pandemic, governments and many global companies are providing plenty of resources and money for improving healthcare infrastructure. Some resources are pharmaceuticals, PPE kits, testing kits, and more medical instruments. So healthcare and pharmacy are the obvious sectors that do not suffer any major impacts in this crisis. However, there will be an upsurge in focus on improving our disease response capabilities. So we can see further investments being made into the healthcare and pharma industry.
Also, due to this pandemic, many people had fear of whether it would affect us. So even when they feel a small illness in their body. They will visit hospitals to check whether they are infected or not. But for the Covid-19 test, they need to pay some amount of fees. As we know, the number of infected people is increasing day by day. So there is a flow of people in hospitals every day. This makes the healthcare and pharmacy industry as surviving one in this covid-19 crisis.
When the number of corona cases increased suddenly, governments from various countries announced lockdown. Also, the government requested citizens to stay home and maintain social distancing. So the effect of the lockdown has made a rise in the usage of telecom infrastructure. Also now, People are increasingly relying on mobile data and internet access to communicate with each other. Not only this but a sudden increase in the number of people started working from home has also increased mobile data usage.
In January and February, when China announced lockdown, the revenue of the telecommunication sector was raised 1.5% compared to last year. This information was officially released by the ministry of industry and information technology of the people’s republic of china. The growth rate of the first two months of 2020 is greater than the last year. Also, mobile data traffic has increased compared to the last 12 months. Work from home is expected to increase data usage by 10-15 percent in the home broadband and mobile space.
By seeing these signs many IT companies would look for continuing with a remote-work policy. So that they can cut costs even after the lockdown is completely lifted. For instance, TCS is considering making 75% of its huge workforce to do work from home by 2025. So that other companies will also follow suit soon and lead to a bright future for telecommunication. This makes the telecom sector a safe one and not impacted in a pandemic. Also, this covid-19 crisis completely boosted the revenue of this industry.
Blockchain is one of the advanced technologies that have made a huge revolution in many sectors. The characteristic of blockchain acts as a Distributed Ledger Technology (DLT). Here the data will be recorded and protected in the network. The transparency maintained over this network made many startups and entrepreneurs jump to the blockchain industry. Many people neglected blockchain before the birth of Bitcoin. But after Bitcoin’s arrival, many people started utilizing it. During this covid-19 when other industries are affected but blockchain industries do not have a much impact. Because it is completely based on online and many companies implementing this technology for security.
In this covid-19 crisis, there are some successful crypto business models in the blockchain industry. Such as launching a crypto exchange, crypto wallet, and more. The invention of crypto coins gave birth to blockchain technology. Many people are already aware of cryptocurrencies. But some people still don’t know about cryptocurrency and cryptocurrency exchange. If you are a newbie to this, then definitely your mind will be popped with a question: what are a cryptocurrency and a cryptocurrency exchange.
First, you need to know what cryptocurrency is. It is a digital asset that helps to trade other digital assets. The first cryptocurrency is bitcoin. It is a famous crypto coin in the marketplace. At this current time, more than 3000+ reliable cryptocurrencies are present in the crypto market. Now, let us see what crypto exchange is. A crypto exchange is a crypto trading platform where anyone can buy, sell, or trade a wide range of major cryptocurrencies and other digital assets.
Here you can trade all the popular digital currencies. Such as bitcoin, bitcoin cash, ripple, EOS, and other reliable cryptos. Crypto exchange is also one of the best online businesses for budding startups. In this covid-19 pandemic, already many startups started to build their crypto exchange by using the powerful bitcoin exchange script from the professional crypto solutions provider. Not only crypto exchange but other blockchain businesses are also helping startups to earn lucrative money. From this, we can see that the blockchain industry is not affected by this covid-19 pandemic.
The insurance industry has also not been affected because of this covid-19 crisis. One of the main reasons that insurance is not an impacted industry like other financial services is, it has remained immune to up and down cycles in the economy. Another main reason is that insurance is only taken out by a small section of the population. So it has completely minimized the impact on the insurance industry. Currently, the government said providers to include COVID-19 in their cover. Also, to quickly process any kind of claims. They may see an increase in payouts, but the insurance industry is almost okay in this covid-19 crisis.
Video streaming is one of the beneficial factors for many people who are staying at home all the time. In this covid-19 crisis, there is an upsurge in video streaming service usage. Because most of the people spend more time at home. Also, they use video streaming as an easy entertainment option. Some video streaming service providers are trying to increase the competition by offering discounts on subscriptions to users. The shooting of new films and series has completely slowed down because of this covid-19 crisis. but it looks like many users are happy with existing streaming movies and series. Also, many people are even revisiting their childhood favorites. From this, we can see that this industry is also not affected by the covid-19 pandemic.
I hope this blog helped you to know about the industries which are not affected by the covid-19 crisis. Whenever you are planning to start a business, remember these industries in your mind. Because these industries will not let your business down even though there is a critical situation. Among these industries, the blockchain industry has a wide range of business opportunities. Choosing the right blockchain business might help you to reap more profits in a short period.