The COVID-19 pandemic is on the rise and the global community has been forced to adapt to the unprecedented changes that have swept through businesses and organizations. The human tragedy that COVID-19 pandemic has inflicted on the world is incalculable and the impact on the entire industries gyrate in unpredictable ways.
This business outlook intends to provide business leaders in the Information Technology (IT) and Technology industries with a perspective on the evolving situation and implications of COVID-19.
A couple of weeks ago, the President declared a 14days lock-down in Lagos State, the Federal Capital Territory and Ogun State and on Monday 13 April 2020, a further lock-down was decided and ordered, taking the total number of lock-down days to 28days. The question is what effect does the lock-down have on the technology sector?
Business in the Technology sector revolves around manufacturing of electronics, creation of software, products and services relating to IT. The major manufacturing technology companies across the globe are domiciled in Asia particularly China, while the rest of the world take smaller percentage of the production chain. For the creation of software which is in essence channeled towards products and services relating to IT, India and China take the lead with the rest of the world behind them.