Covid-19 is creating new business and technology opportunities

Companies are not combating new ways to profit from the coronavirus outbreak

The global economy has been slowing down due to the widening coronavirus outbreak, and some tech platforms are providing new alternatives and in-home services to withstand the storm from the crisis. The result of social media became an indispensable source of vital information and entertainment across the world.

The outbreak of coronavirus is crashing global markets and local businesses. As a result, there is approximately 25 million people lost their jobs because of coronavirus. Companies have to find new alternatives and opportunities from this outbreak. Remote services are an unique business opportunity. The coronavirus may also be motivating some companies to move toward automation and technology-based services.

At present, many schools and universities have transitioned to online classes. And many people have been spending more time at home and spending more time on streaming services, social media and mobile games.

So, where might investors find opportunities?

Tech companies are benefiting from more people working remotely. As more remote working occurs, the number of people and devices needing increases. Tech companies in this situations are the only way to cater internet-connected consumers at home that could benefit from coronavirus including Facebook, Amazon and Netflix. These online services would potentially benefit in a world of quarantined individuals and communities.

Coronavirus is changing how people behave

The homebody economy is booming, meaning people are encouraged to be “netflix and chill”. The homebody economy and technology companies like Facebook and Netflix are rising. As more and more people stay home, they’re likely turning to Netflix to do whatever they need.

Currently, global cases are rising rapidly and if coronavirus cases become more widespread in Europe and there’s more quarantine in home, then it could potentially benefit online platforms because that would be people’s primary source of entertainment.

Companies feeling the most immediate impact from the pandemic have been those without online or tech platforms as well as service industries.

Among the latest coronavirus-related disruptions, developers in most business companies are shifting their conference and events online.

At this rate, the coronavirus outbreak looks like it could upend the most basic aspects of our daily lives. This also means there are new opportunities to prepare differently, moving to the nature of their jobs to online services and new habits.

Comment below if you have any other point of view about COVID-19 and tech opportunities!