Outsource software development companies entirely depend on the success of their clients. Even tiny possible changes of a business landscape for each industry that we engineer software need to be explored and adjusted to. COVID-19 outbreak impacted and altered every domain we cover, so we had to prepare for the adjustment
We’ve started with exploring expert’s opinions across multiple respectable sources for each industry and conducted our own analysis.
For some industries, it’s been much tougher than for the others.
As it was highlighted at the United Nations Conference on Trade and Development (UNCTAD) the global foreign direct investment (FDI) inflows have witnessed a sharp decline due to the COVID-19 pandemics. While there are plenty of economic forecasts out there, it is hard to make any reasonable conclusions due to the rapid changes in the course of an outbreak.
Some of the insights of our internal investigations are described in this blog post. The covered industries are manufacturing, education, agriculture, and construction.
Manufacturing is a very broad industry that includes quite a number of domains and verticals. Many of them are covered in our portfolio. And most of them will be severely affected by the coronavirus and upcoming economic crisis.
American National Association of Manufacturers (NAM) predicts a downfall in the manufacturing sector. Plenty of automotive and electronics factories are already at shutdown and have no near-future plans of re-opening.