4 Fundamental Ways COVID-19 Has Forever Changed the Tech Space

The last three years saw more change than the past two decades combined. With these new conditions here to stay, there’s no doubt that business will never be the same again. This blog looks at the four fundamental ways COVID-19 has forever changed the tech space and sheds some insight on what the future might hold.

1. Video Calls

Once the COVID-19 pandemic arrived and showed no signs of leaving, our reliance on technology platforms such as Zoom and Google Meet became apparent. The companies that could see the writing on the wall went remote (many still operating on a work-from-home model), resulting in continued growth for many firms. 

Before the pandemic, Zoom’s revenues in 2019 were $620 million. By 2023, the company will have revenues exceeding $4 billion; overall, Zoom now has a valuation of $21.55 billion. Experts are projecting that by 2027 the video-calling sector will grow to $19.1 billion on the conservative side. Additionally, due to the growth of this new market, alternatives such as Cisco Webex, Microsoft Teams, Google Meet, and more are all edging in to try and get a piece of the action for themselves.

COVID-19 forced many forward-thinking companies to collaborate internationally and adapt to a new digital reality. While other slower, more change-resistant companies have yet to come around to remote work, COVID-19 has helped reduce the number of in-person meetings and given rise to virtual meetings, which are possible anywhere. 

2. Increased Dependence on Everything Digital

There’s no doubt that the biggest winners of the last few years, thanks to COVID-19, are the firms that provide products such as productivity, communication, and collaboration tools needed by remote and hybrid teams. Some companies like Google, Zoom and Slack might come to mind, but other industries have blossomed after the pandemic. 

These companies range from those operating in the IT support space, cybersecurity sector, and other products focused on providing companies with more secure avenues to work together. This new dynamic has also forced companies to do a better job of nurturing customer relationships and providing more automation-centric services. 

Let’s do a KIKrr plug here- “automation-centric services like KIKrr that are changing the nature of how companies do business.” 

3. Collaboration Leads to More Innovation

Traditionally, businesses used to refer to periods of collaboration as “watercooler moments,” where individuals would chat about a problem and collaborate to find a solution. . Times have changed, and thanks to the pandemic, this scenario is one of the past. However, this change doesn’t mean that collaboration is dead, and there’s no future for innovation. 

With virtual meetings becoming more the norm, there’s a growing trend for collaboration, as people worldwide can now work together and share their unique insights. Companies that have successfully adapted to these new conditions can now hire the best and brightest from anywhere in the world, giving them a clear competitive advantage over their counterparts. 

4. Revolutionizing Operation Processes

Lastly, COVID-19 has revolutionized how companies conduct their operation processes, both off and online. Many companies have taken their onboarding processes entirely online. These changes show no signs of slowing down and, if anything, will continue to grow and accelerate as more firms begin to recognize the benefits of these changes.  

For example, remote.com specializes in helping remote organizations with their HR needs. The support they offer ranges from assisting with payroll, hiring employees, ensuring companies stay compliant in their industry, and this is all available for firms of all sizes. With the pandemic being a critical ingredient in driving the evolution of this remote hr and operation sector, there are no signs of this slowing down. 

Some Final Thoughts

The technology space has shown time and time again that it’s agile and capable of quickly adapting to new changes, especially unforeseen ones like COVID-19. As customer needs shift and change, so will companies’ global processes. The sky’s the limit, and it’ll be fascinating to see what new changes come about in the coming years and decades. 

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Every week we dissect different topics on recent events in the tech space and dive deep into a fascinating and vital topic within the cybersecurity industry, so stay tuned! If you’re hungry for more on everything KIKrr, head to our website and learn more!