It is not a great year in 2020, where Coronavirus hits and affects almost all business globally. Covid-19 outbreak was declared in January 2020, started from Wuhan, China. It then became pandemic in March due to the speed of spreading and how easy it is to spread. Many countries have to lockdown on major cities and restrict tourists or foreign visitors from entering the country. The industry that faces the largest impact is definitely the tourism industry. Countries like Thailand that heavily rely on tourism are facing a great downturn in the economy.
Despite all the negative impacts that Coronavirus brought to the economy, some sectors found extremely good opportunities to grow in this period.
Here we will list out some sector that has great potential:
Healthcare is definitely the industry that is succeeding during the Coronavirus outbreak. Not only healthcare services/facilities have high demand, medical devices/equipment, pharmaceutical products and medical insurance also have significant opportunity. Products such as face masks, hand sanitizers, temperature scanner, body thermometer, gloves etc. have become one of the essentials that every household will have. The Share price of these companies is increasing drastically as compared to other industries due to the opportunity it has.
With lockdown being imposed, meaning everyone has to stay at home for most of the time. With limited entertainment, online gaming has become the only source and gaining popularity with mobility. Especially online games that required interaction, all these games received great audiences as everyone is looking for engagement and human interaction. Online streaming services is also another sector that we couldn’t ignore. Recent studies and reports are showing there is a significant increase in users for all these sectors.
While all of us stay at home, the logistics sector experienced growth. People tend to order everything online for groceries, foods, clothes, and all kinds of items. Covid-19 has changed our way of life. Logistics will become our necessity in life for the convenience it brought. Consumers are expecting their products to get delivered at doorfront, as efficiently as possible. From ordering to delivering, all human contacts are kept at the minimal level in order to ensure break off of the pandemic chain. This seems to be the new trend of our future life where everything is about fast and limits human errors. The industry and process will adapt to become more efficient and robust throughout the supply chain.
Due to the large scale of countries’ lockdown, many businesses have to adapt with more flexible and remote workforces. Only businesses that are fast response to the problem and well prepared are able to handle these unpredictable business environments. This is where technology and internet security have become a top priority. Thus, workspace solutions such as software and cloud systems have gained great opportunity from this pandemic. We can see this from Zoom, where in 3 months time, became market leader in Video Conferencing and Virtual Meeting Solutions as companies widely implemented to schedule virtual meetings to replace host in-person meetings. Cloud systems are also important to ensure smoothness of business to function as usual where data is able to access from anywhere and at any time. These solutions see great potential even after this Coronavirus pandemic ends.
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