Pandemic to drive up investment in smart technology

Oyster Bay, New York – The Covid-19 crisis will eventually force companies around the world to radically rethink how they operate and embrace investment in technology, forecasts ABI Research.

In the near-term, however, ABI expects “a retrenchment in outlooks a reduced investment in modernisation, as survival instincts trump the drive to prosperity.”

“Before we feel this potential long-term impact, there will be some serious short-term implications, said Stuart Carlaw, chief research officer at ABI Research. 

Contractions in consumer spending, disruptions to supply chains, and reduced availability of components will create a rough sea for all boats,” said Carlaw.

But the pandemic will subsequently drive a more concerted and widespread move to lights-out manufacturing, believes the global tech market advisory firm.

Industry is also likely to see increased usage of autonomous materials-handling and delivery systems as part of a move to more integrated and coordinated supply-chains. 

At employee level, ABI predicted a move to virtual workspaces and practices, alongside investment in smart cities and community-resilience, added the firm’s 18 Mar press release.

“To effect change, there must be a stimulation of a magnitude that means companies cannot do anything but make bold decisions to survive,” said Carlaw.

“Covid-19 is that magnitude,” the chief research officer concluded.

The predictions are based on a new ABI white paper titled, Taking Stock of Covid-19: The Short- and Long-Term Ramifications on Technology and End Markets.