When the COVID-19 pandemic came ashore and moves like lockdowns were being deliberated upon, the USD 180-billion IT sector faced a huge challenge for business continuity. More than a month into it, industry executives feel it has been a blessing in disguise. As a result of this, a larger number of people to work from home in the post coronavirus world.
They attribute the emerging scenario to cost and productivity gains out of WFH (Work From Home) and it is not just the IT sector which is reaping the benefits. Companies across the services sectors, including banks, are set to have fewer people work from the offices in the future. Like most sectors, even the Security Services industry has seen the impact. However, Rituraj Sinha, Group Managing Director, SIS Group Enterprise feels that the economy will see a V-shaped recovery, similar to the crisis in the 1990s and in the ‘2000’.
While automation has been happening over the past three years, each year this technology has been gaining momentum and size. Moreover, in the COVID-19 world, it will expand at a phenomenal pace. So, remote monitoring, automation, use of sophisticated security equipment, contactless security will be growing. Furthermore, due to COVID-19, it is going to accelerate much faster. In fact, remote monitoring would be a practice more than a norm.
The Industrial Equipment industry statistics below are taken from Industry data available pre-Corona virus impact.