COVID-19 Impact on Graph Analytics Market in ICT Industry

COVID-19 Impact on Graph Analytics Market in ICT Industry

  • ICT
  • Nov 30, 2020

COVID-19 Impact on Graph Analytics Market in ICT Industry

INTRODUCTION

COVID-19 is a pandemic disease that has created a severe outbreak globally, starting from China to almost in every country. It has a major impact almost on everything, including human life, world economy, automotive sector, industrial sector, consumer electronics, security and surveillance, and others; as a result demand and consumption rate gets lowered. Unavailability of vaccine to cure or prevent the disease from spreading is a major reason why lockdown has been initiated for prevention and lower the COVID-19 spread. To control the disease spread, lockdown is considered the better solution observed in many countries, but it also hurts the economy. At the height of the pandemic, more than 2 billion people were under some form of lockdown, and 91% of the world’s population, or 7.1 billion people, live in countries with border controls or travel restrictions due to the virus. However, now almost in every country the factories are started to reopen by taking some prevention such as 20%-50% employees on the field, social distancing, extreme hygiene measures and others to support the economy. It is supporting the economy and helping to lower the recession rate at certain level.

As the pandemic hit globally, People are becoming more inclined and reliable towards the use of digital platforms and internet services. With the spread of the virus globally, individuals are avoiding physical contact to protect themselves from the virus. Individuals prefer automation and digitization more than the physical experience, which increases the need for maintenance and interpretation of graphical data and information. This has eventually created a series of opportunities for the graph analytics market providers. However, the Graph Analytics market is witnessing increased demand due to the number of research conducted for COVID-19, improving the graphical data for interpretation.

IMPACT ON DEMAND AND SUPPLY CHAIN

The demand for graph analytics is witnessing an increase in the COVID-19 era as the pandemic created a huge increase in the need for graph analytics in all industries like healthcare and supporting sectors to improve their response to the COVID-19 crisis by using graph approaches. Graph analytics help the manufacturers and service providers to meet the challenge imposed by complex relationships between manufacturers, suppliers, distributors and customers.

The pandemic also has a significant impact on the supply chain of the graph analytics market. The logistics and transportation of assets deteriorated a lot. The supply chain was adversely affected as the lockdown prevailed in many regions globally; the government has limited the workers. Companies are making their operation work according to government regulations by making limited workers work in different shifts. However, there is an improvement in the supply chain as most of the facilities and travel restrictions have opened and used in the most optimum capacity.

STEPS TAKEN BY MANUFACTURERS DURING COVID-19 SITUATIONS

As the COVID-19 crisis continues to expand, makers would possibly face challenges on varied fronts. Producing firms would be searching for immediate measures to stay their workforces safe and their businesses solvent. Makers would conjointly have to be compelled to look on the far side of their economic viability. Because the COVID-19 pandemic intensifies, graph analytics makers possibly face continued increased pressure on demand, production, and revenues. They’d continuously meet higher demand and disrupted the supply chain. Manufacturers and service providers focus on the healthcare sector for graph analytics. The pandemic has boosted the growth of the graph analytics market.

For instance,

In March 2020, TigerGraph provided graph analytics to those working to track, analyze and research COVID-19. The company also invites various manufacturers and service providers for a free trial request to use TigerGraph Enterprise Edition for analysis of data related to COVID-19.

CONCLUSION

During the lockdown, the graph analytics market has observed a rise in the adoption of digital platforms. Some of the factors have increased digital data, increased patients data and researcher’s graphical data due to pandemic creating need for graph analytics which is boosting the growth of graph analytics market. Also governments of many countries were taking various initiatives to boost the market growth during this pandemic.

COVID-19 TRACKER

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