COVID-19 Impact on Website development Market 2020
Since the beginning of this Year, the world has been in fever due to the pandemic, and businesses are going through hard times. After an initial blow to lives, businesses, and travel, many companies are now assessing the impact of COVID-19 and trying to build a strategy for moving forward in times of uncertainty.
As the experience of previous crises shows, сompanies that worked to improve business efficiency with offensive measures (opening new markets; prudent investment in new assets, etc.) were able not only to maintain their position in the market but also to outperform their competitors.
That's why our team's goal is to turn problems into positive change by carefully observing, studying, and adapting to the needs of the web development industry that helps us to support and develop our customers' businesses.
The Impact on Ecommerce
According to statistics, the volume of purchases on the Internet increased by 57%, visits to online training platforms also increased by 26%, 37% in online banking, and 24% in virtual tours. Events in recent months are pushing even the biggest skeptics to the need for digital transformation. Physical meetings have been and are still being replaced by online sessions, with live-streaming services such as Zoom recording a 300% increase in traffic.
Of course, the business had to adapt with all its might to survive in the new environment. Enterprises now face a wide range of new system priorities and challenges, such as business continuity risks, sudden volume changes, real-time decision making, productivity, and security risks, so quick decisions must be made to ensure system resiliency. Many companies are now looking for ways to maintain and improve operating systems to cope with the changes and challenges to survive this period successfully.
Impact on Tech
Some technology sectors have been hit hard by supply disruptions. Besides, the cancellation of significant tech conferences resulted in $ 1 billion in losses for all attendees.
But the good news is that the tech industry is forecast to grow significantly over the next few years, from $ 131 billion in 2020 to $ 295 in 2025. The main investments will be made in conferencing solutions, non-cash online solutions, remote work platforms, and various kinds of cloud solutions.
The Impact on Security & Privacy
Unfortunately, the increased activity of online shopping has stimulated scammers and hackers to become more active. During the Covid-19 outbreak, there was a sharp increase in cyber attacks. Checkpoint said that "71% of security professionals have seen an increase in threats or attacks since the coronavirus outbreak." These attacks most often take the form of email phishing, fraudulent web pages, malware, and ransomware.
Massive attacks are forcing many organizations to rethink and assess their security settings. Thus, we expect the growth of digital solutions in this sector, as extreme events usually lead to new safety solutions.
GBKSOFT Experience in Web
After analyzing our customers' behavior during the crisis, we also found that many customers during the lockdown were able to rethink the content and functionality of their websites, those who only had a desktop app decided to make a transformation to cloud solutions. We had many online meetings with customers on the new features and services, functionality optimization, rebranding, security enhancements, and ways to promote their services online.
If your business is also experiencing difficulties, we offer you a free consultation on how a web application can help your business to stay afloat.