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COVID-19 Impact on Algorithm Trading in Semiconductors and Electronics Industry


COVID-19 Impact on Algorithm Trading in Semiconductors and Electronics Industry

OVERVIEW

Algorithmic trading, automated trading, algo trading or black box trading is a technical development on the stock market. It is a programmed process running on a system that follows a complex series of trading instructions (algorithm) to generate income at a rate and frequency that is nearly impossible for human traders. Automated trading or algorithmic trading is gaining tremendous traction, which is useful for capital markets and is being adopted in countries such as the United States, India and the United Kingdom. The foreign exchange market has seen a rising involvement of algorithmic trading, that is, automated transaction mechanism focused on pre-determined programmes. At the same time, the need to change has become more important to understand its characteristics.
Thanks to developments in cloud computing, quantum computing, blockchain, artificial intelligence, and machine learning, algorithmic trading or automated trading in financial shares based on algorithms has seen a sharp increase in recent years.
Financial firms make use of algorithms to track and execute transactions at a speed and pace that are difficult for a human trader to match. And as financial institutions look for ways to develop data analysis, modeling tools, and underlying processes to speed up execution, increase market liquidity, and generate better risk-adjusted returns, the goalpost continues to shift.
However, this rise in algorithmic trading comes with its own set of risks. Regulators are increasingly worried about the possible effect of failed algorithms on the functioning and stability of financial markets. Defective algorithms can lead to severe losses, with financial institutions' possible failures in extreme scenarios and systemic implications for the economy. The risk of algorithms being used for market manipulation and price manipulation is also of concern.
Stock prices reflect expectations of future earnings, every economic hypothesis that seemed true a month ago is being reassessed, and none is being reassessed as COVID-19 decreases economic activity and income. Increased levels of uncertainty and random panic in financial markets have made forecasts difficult, as much of the world is now in a state of stagnation. Prediction of stock-market moments using traditional statistical methods is not adequate.

IMPACT ON DEMAND AND SUPPLY CHAIN

In 2019, in the FX spot market on EBS2, one of the most widely used automated broking systems on the interbank market, the algorithmic trading share rose to about 70-80%. The FX trading system and the operation of the economy appeared to modify these changes in trade methods. The period of February 2020 to the end of March 2020 is an example of stress in global market volatility has risen as a result of the Pandemic COVID-19. Volatility of USD / JPY has sharply increased in March, though liquidity increased indicators, such as distribution of bid-ask and quantity of bid-ask best quotes (deep) have significantly degraded.
The OECD Interim Economic Outlook at the beginning of March 2020 illustrated that the epidemic of Coronavirus has already led to a gradual downturn in China's economic growth, and that subsequent outbreaks in other countries have challenged economic growth prospects. Since then, many governments have been motivated by the rising dissemination of Coronavirus across countries to take extraordinary measures to contain the outbreak.
Although it was important to control the epidemic, these interventions led to the temporary closing of many businesses, widespread restrictions on travel and mobility, financial market instability, loss of trust and heightened uncertainty. This approach indicates that shutdowns could lead to rapid declines in production levels in many economies, with consumer demand potentially falling by about one-third. Changes of this nature will far outweigh the economic crisis in the dark.
Data on the FX market that can be defined by a person traders and evaluate their trading activity in depth are limited. This situation represents the demand for FX special characteristics, that is, no clear regulatory criteria authorities exist and multiple participants exchange over-the-counter (OTC) in different locations around the world.

STEPS TAKEN BY COUNTRIES

The economic effect of the global spread of COVID-19 has raised investor risk aversion in ways not seen since the global financial crisis. Stock markets have plummeted by more than 30%; implicit capital and oil volatility has risen to crisis levels; and credit spreads on non-investment debt have expanded significantly as investors minimize risks. This heightened uncertainty in global financial markets is occurring despite the significant and extensive financial reforms accepted by the G20 financial authorities.
These problems vary widely from the recent financial crisis, too. A sound evaluation of the changing dynamics of global markets and financial intermediation in the post-crisis era calls for an appreciation of current business fragility, business contagion processes and policy implications.
In several nations, companies have become heavily indebted and are now vulnerable to worsening economic and business conditions. In the midst of a prolonged period of accommodative monetary policy, the very low borrowing rates have led to unprecedented corporate debt. As a result, corporate debt is at a very high level in many G20 countries, and the rise of leveraged loans outstanding in the U.S. and Europe has offset the slowdown in bank lending to provide indebted companies with financing.
This debt was used by many firms to pay dividends and buy back shares, expanding the leverage that made them more prone to sharp declines in operating earnings.
Furthermore, lower-rated loans issued in the form of BBB, non-investment-grade, and leveraged bonds have increased to higher amounts. This has been extended throughout the banking industry to a number of customers, from insurers, hedge funds, and institutional investment funds, as well as loans secured by collateralized loan commitments.

CONCLUSION

From the above discussed pointers, it is clear that the market for the Algorithm Trading equipment have increased owing to factors that the protective measures to be inculcated by the industries to take precautions and necessary steps in the industry to safeguard their employees from the spread of SARS (COVID-19) attack. The companies and various organizations are deploying protective equipment such as gloves, helmets, masks and sanitizers towards the safety.
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It features stainless steel housing and is suitable for continuous use at +90°C/ +194°F liquid temperature, allowing for very demanding cooling and hot water applications. Thus the company has provided an advanced electromagnetic flowmeter. · In October 2020, NOHKEN Inc. announced the release of Tuning Fork Level Sensor for liquids application. The sensor has excellent durability and is corrosion resistance, compatible with most of the liquids. Also, it has operation check and failure diagnosis functions. The sensor is also compact and has no mounting direction and AC/DC free supply power is available. The COVID-19 pandemic and the consequent lockdowns worldwide have massively disrupted global logistics and supply chains. This has caused new challenges for manufacturing and distribution operations. The increased restrictions on goods' movement have caused havoc in the industry. China, the world's largest manufacturer of raw materials and finished products, has shut down all the manufacturing units due to the spread of viruses. As the raw material was not supplied, level sensor manufacturers worldwide have to face the shortage of the material and could not cater to the customers' demand. CONCLUSION The level sensor market has tremendously evaluated in the last few years. The advancement in technology has provided higher accuracy, efficiency, easy installation and level sensor maintenance, leading to its growth in the market. The increasing use of the level sensor in the oil and gas industry has raised its demand in the market. The new advanced and accurate sensors in the market have increased the government sector's need for the level sensor. Also, the adoption of this technology in different industries such as food and beverage, power generation, chemical and others has led to the market's growth. Also, the contactless solution provided by the company has raised the demand for the level sensor in the market.
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COVID-19 Impact on Additive Manufacturing in Pharmaceutical Industry The outbreak of Coronavirus has caused many industries to change the way they operate, and manufacturing industry is no exception. Also, the rise in demand of antiviral drugs was observed along with decrease in demand of drugs for other ailments. The European Fine Chemical Group estimated that 80% and upward of chemicals used in the making pharmaceuticals sold in the Europe region originate from China and India. Everyday millions of patients rely on drugs manufactured and supplied by pharmaceutical industries; shortage of any particular medicine may create chaos. Manufacturers served throughout the pandemic and are still operating to prevent such turmoil. IMPACT ON DEMAND The Coronavirus led to the widespread closure of local manufacturing plants and companies and has badly affected the various region of world. Due to extensive lockdown and isolation the economic activity has affected adversely which has impacted the global economic activity. Manufacturers began to diversify sourcing of raw materials along with investment in spreading production in different regional markets instead of concentrated markets such as India and China. Likely to be long term effect is reindustrialization of pharmaceutical production in countries such as the United States and Europe in order to minimize dependency on imported products, this would lead to rise in demand of additives in above mentioned countries. Moreover the increasing cases of COVID-19 have also paved the way for enhanced demand of additives but due to movement restrictions same decrease in sales was recorded. For instance, · In January 2021, BASF SE had no indication of any major effect on the global activities and supply chain of our BASF Nutrition & Health sector comprising of BASF Pharma Solutions, BASF Animal Nutrition, BASF Human Nutrition, BASF Enzymes and BASF Fragrance Ingredients owing to the COVID-19 pandemic. · In 2020, DuPont de Nemours, Inc. recorded decrease in earning of excipients sales, which belonged to Nutrition and Biosciences segment. This thus signifies that increasing prevalence of COVID-19 poses a life threatening effect to various types of patients already suffering from several kinds of disease among the most recent known COVID-19 pandemic. Thus the demand of effective treatment option that is antiviral drug has enhanced the supply for short term. This thus demonstrates that COVID-19 is accelerating the demand of additive market. PRICE IMPACT Throughout year 2020 the COVID-19 pandemic caused economic turmoil globally, the pharmaceutical industry in particular had to adapt quickly to minimize the impact on its operations and supply chain of drugs worldwide. Raw materials and additives rates have increased due to reduced supplies and delayed manufacturing plans, and shut downs in some countries. The price of additives and raw materials has increased during the COVID-19 pandemic due to numerous air travel restrictions and inefficiency to supply products. For instance, · The shortage has begun to affect API and bulk prices in trades, the average increase in India was reported to be about 10-15%, and is estimated to reach 50% in some cases. · WACKER Chemie AG a Germany based company is about to raise its prices for dispersions and solid resins in Europe, Africa and Middle East region stating that this measure has been necessitated by rise in price of raw materials cost in market. · The Edelweiss Securities predicted that COVID-19 pandemic would cause severe supply disruptions in pharma sectors causing earing cuts by 15%. But globally pharma companies are performing well, in short term most companies are expected to bounce back in five years. This thus signifies that due to COVID-19 pandemic the price of additives used in pharmaceutical productions have increased due to Coronavirus outspread. IMPACT ON SUPPLY As COVID-19 spreading began in China the surge of medicines has been enhanced due to increasing patient’s volume which put a pressure over the supply of pharmaceutical additives. Moreover the COVID-19 pandemic has changed the business environment for more organizations across the globe. Around the world many companies are hugely reliant on supplies and production in China. However the market players are adopting several initiatives in order to maintain a continuous supply of additives. For instance, · As per the news of September, 2020 this has been suggested that Sandoz is working closely with the Association for Accessible Medicines in order to enhance the global pharmaceutical supply chain. · In 2020, Ashland which is an essential supplier, their supply chain continued to operate safely receive, process and ship specialty products during COVID-19. · As per November 2020 Merck KGaA a company specialized in additives and chemicals stated that it continued to leverage their business continuity plans including risk mitigation activities, accelerated investments and adjusted production schedules for few high demand products. · According to the news of March 2020, Roquette Frères stated that they are working in order to minimize the COVID-19 impact on its supply chain. · As per February 2020, FDA closely monitored supply chain with the possibility of potential disruptions in supply of critical medical products in the U.S. Manufacturers alerted FDA about recently added drugs in drugs shortage list. · DFE Pharma claims that their continued production and supply during the pandemic was not affected in Netherlands, India, Germany and New Zealand. Apparently due to COVID-19 effects on global transport industry the shipping companies are charging more than usual. This suggests that increasing prevalence of COVID-19 poses threat for maintaining a continuous supply chain of additives while initiative adopted by market players allows them to manage a continuous supply chain. STRATEGIC DECISIONS OF MANUFACTURERS Additive manufacturing companies are taking so many strategic decisions in order to cope up with the current scenario of COVID-19 pandemic. The companies engaged in manufacturing of additive manufacturers are collaborating so as to accelerate the market growth. Companies have already taken several kinds of strategic initiatives in order to cope up with the Coronavirus situation. Strategic initiatives by market players such as Dow, Ashland, Kerry, BASF SE among others in the market will help them to expand their network and supply chain. This in turn will lead to increasing product sales and hence will enhance the overall company’s revenue. For instance, · In May 2020, Dow during the COVID-19 pandemic was working closely with government officials and medical professionals, using guidance to adjust plans as warranted. · In April 2020, the U.K.’s Medicines and Healthcare Products Regulatory Agency (MHRA) published guidelines on Exceptional GMP flexibilities which allow manufacturers to increase their production capability to minimize risk of product shortage using quality risk management principles and to navigate through international travel restrictions imposed due to COVID-19. · In April 2020, Lubrizol enabled 1 Billion bottles of hand sanitizer globally every month to increase its Carbopol polymer production, which is used as a thickener. The increasing demand and sales of antiviral drugs are fuelling the growth of additive manufacturing in pharmaceutical market. Thus, companies operating in the additive manufacturing in pharmaceutical market are adopting several strategies, including agreements, market expansion to enhance their business. These strategic decisions by the market players helped them to attain a lucrative growth even during the COVID-19 pandemic. CONCLUSION As the pandemic of COVID-19 has resulted in several restrictions throughout the borders but still manufacturers of additive manufacturing in pharmaceutical are able to manage their stocks. The demand and supply of pharmaceutical products increased rapidly due to given medical emergency. Drug shortage caused due to the pandemic is expected to remain limited this way for a short period, also if the pandemic exceeds the shortage of pharmaceutical APIs, chemicals and additives may persist on causing shortage of supply in long run. This would also effect complications in distribution especially due to population movement restrictions across the globe. Various manufacturers are continuously engaging in constantly monitoring the supply chain so as to attain a lucrative growth. The activities and certain changes from COVID-19 would reduce dependency of private pharmaceuticals on alone suppliers such as China.
How COVID-19 Impacted on Data Center Accelerators in the ICT Industry ?
COVID-19 Impact on Data Center Accelerators in the Information and Communication Technology Industry ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET The spread of COVID-19 has entirely changed people's life. COVID-19 which was originated in the city of Wuhan, China, in 2019 and had been continuously spreading all over the world since then. It has been spread to more than 180, and the U.S. tops the list, followed by India, Brazil, France, Turkey, among others. As of 10 August 2021, WHO reported 204.21 million positive cases worldwide, of which 4.31 million patient has lost their life to the virus. On a positive note, 183.39 million patients have recovered, and 4.46 billion doses have been administrated globally. The pandemic has put the lockdown, travel ban, and business shutdown in most of the countries, which has highly impacted the global economy. All the major industries are facing serious disruption such as a break in the supply chain, shut down of offices and manufacturing units, and many more due to the pandemic. However, the demand for cloud-based services and the use of Artificial intelligence has increased tremendously. The burgeoning application of A.I. in different sectors like automobile, consumer electronics, medical, education, and others have enhanced consumer perception and expectations from A.I. technologies. Also, for cloud server inference applications, numerous FPGAs are being developed to perform different tasks such as enhancing security and fast computing. STRATEGIC DECISION BY MANUFACTURERS AND GOVERNMENT INITIATIVES AFTER COVID-19 Post-COVID manufacturers are taking many strategic decisions to get back their original business place in the market. The companies are conducting many research and development activities to improve the technology involved in the data center accelerators. Thus the companies are bringing more advanced technology in the market to increase their market share and being recognized by the clients. Also, companies are acquiring other I.T. companies to expand their business in the market. For instances, · In March 2021, Advanced Micro Devices Inc. released a new data center chip to grab more market share from its rival company Intel Corp. The company's "Milan" data center processor is faster than Intel's current best data center chips. The chip and its predecessor have both outperformed Intel's chips, helping AMD gain more market share and land customers such as Alphabet Inc's Google. Thus by bringing advanced technology, the company is increasing its market share · To expand the portfolio of data and hybrid cloud consulting services, IBM announced in July 2021 that it had acquired Bluetab Solutions Group, S.L., an I.T. service providing company. Bluetab will help the company to further advance its hybrid cloud and A.I. strategy. Also, Bluetab has expertise in data and cloud migration services which includes specialized data strategy, data fabric, and advanced analytics, which will further help in the company's growth The advancement in technology and its use in the government sector have also made the government take the initiative to boost the growth of the market. For instance, · Chinese government has issued a Three Year Plan for new data centers, demanding that the new facilities should become more efficient, should have a PUE of 1.3, and have a utilization of 60 percent by the end of 2023. This Plan for the Development of New Data Centers will also limit the growth of data centers to 20 percent and sets out a national architecture supporting national cloud hubs, provincial data centers, and edge data centers. The Plan is designed to support digital transformation in the country IMPACT ON PRICE COVID-19 pandemic has pushed all businesses to make immediate transitions into digital functioning. For this transformation, the firms have to adopt cloud technology. Thus due to the rise in the demand for the same, there has been a major impact on the price of the technology. For instance, · Research done by ANALYTICS INDIA MAGAZINE PVT LTD shows that, on average, the price of 1 T.B. of on-premises storage with exceptional performance could cost over USD 3,000 for a year, and hybrid cloud cost more than this. Also, AWS, Google Cloud, Azure are considered to be the major competitors in the space of cloud platforms. The cost of their platform differs based on customized and discounting models that combine to create a highly personalized cloud deployment. IMPACT ON DEMAND AND SUPPLY CHAIN The manufacturing sector is enhancing its manufacturing processes by using A.I., IoT, and blockchain technologies. With the help of these technologies, companies are cutting costs, increase their process efficiency, and reduce human contact. A.I. is also used for predictive maintenance and will further be implemented to forecast demand and returns in the supply chain. Also, educational firms have deployed A.I. tools to enhance online learning and virtual classroom experience for students. As the use of data centers is increasing, its demand in the market is also growing. To cater to this rising demand, the companies are coming forward with new modern data center solutions in the market. For instance, · In Sept 2020, Marvell announced that the company's custom application-specific integrated circuits (ASICs) offering would enable the next generation of artificial intelligence (A.I.) accelerator solutions for the data center and automotive markets. The ASICs provide turnkey design and verification, as well as custom mesh; interconnect network-on-chip communication. Also, it provides features such as adaptive voltage supplies for power reduction along with custom hierarchical test methodology, logic redundancy, and a custom memory BIST solution for enhanced reliability · In Feb 2021, Xilinx, Inc. released a new range of data center products and solutions, including a new family of Alveo SmartNICs. The company has also introduced smart world A.I. video analytics solutions that provide deterministic low latency performance for the most demanding A.I. video applications. Thus this new accelerated algorithmic trading framework will help software developers to create trading solutions that break the microsecond latency barrier CONCLUSION Post-COVID inception, the demand for cloud services and advanced technology has tremendously increased, leading to the growth of the market. The use of A.I., IoT, and other technology in different sectors like medical, education, automobile, and others has further raised its demand in the market. Also, the use of this technology can help the manufacturing firms to work more efficiently and accurately has raised the demand for A.I. technology in the market. The technology also helps in predictive maintenance and helps to forecast demand and return in the supply chain. Also, due to the shift to work from the home scheme and to secure a remote workforce, the demand for cloud-based services has increased. Thus due to the rise in demand, the sending of the firms on cloud platforms has also increased in the market.
What is BRCGS, and Why Is It Significant in Flexible Packaging?
In the food sector, it's critical to understand how to keep a working environment clean and what materials should be used to package the product. These materials could react with the food and render it unhealthy, and therefore caution must be exercised. This is why working with reputable ISO 14001:2015 Consultants in Gujarat may help you decrease and regulate your company's environmental impact. When you're just getting started, it's critical to keep an eye out for product safety and quality management systems. Engaging with a BRCGS packaging consultant in Ahmedabad may help you with this. They are trained on conceptual requirements and critical triggers for the need for implementation, either to suit the nature of your business or to assist you on your company's journey to full Standard implementation. What is The BRCGS The British Retail Consortium (BRC) was founded by merchants who wished to standardize food safety standards throughout the supply chain. With the fast global expansion of food and packaging enterprises, food safety has become a more pressing problem, particularly for those entering the food supply chain, producing packaging, and developing materials. It is critical to obtain the BRCGS certification in order to assure customer safety and maintain brand reputation. Choosing a packaging provider with BRCGS certification for packaging materials has a number of advantages. Here's a rundown of what's been said so far: Certification that is well-known over the world The BRCGS for packaging materials is the first worldwide food safety packaging scheme recognized as the industry standard. Working with ISO 14001:2015 Consultants in Gujarat to ensure packaging quality describes the product safety, quality, and operational standards that must be in place within a package manufacturing organization. Win Customer and Supplier Confidence Many retailers, brand owners, raw material processors, and packaging manufacturers embrace the BRCGS and accept it as part of their supplier clearance processes throughout the world. Choosing a BRCGS packaging consultant in Ahmedabad provides with a BRCGS certification can help ensure your customers have faith in your products, whether you're a well-known brand or a startup in a new market. Achievable and Budget-Friendly The Standard, which was created by packaging and product safety specialists, includes product safety management systems as well as internationally recognized manufacturing best practices. There's also a well-defined, step-by-step approach to certification. Tool for Effective Marketing Brands can use the BRCGS certification as a positive marketing tool to show customers that the product they're buying is well-packaged and meets food safety regulations. By employing a BRCGS certified packaging provider, you can improve product safety, reduce waste, complaints, recalls, and rejected items by displaying this certificated insignia on public-facing products like packaging, websites, online content, and marketing materials. Final Words,  Food packaging, like other sectors, has an impact on everyone on the earth, which is why ISO 14001:2015 Consultants in Gujarat have developed special rules for food packaging and other industries. Working with a reputable BRCGS packaging consultant in Ahmedabad can help with the adoption of the Global Standards, which not only ensures product safety and quality but also provides additional protection in the event that the company is prosecuted by the authorities. Source: How does BRCGS packaging Consultant help you in Flexible Packaging?
Impact of COVID-19 on Mini Cranes Market in Semiconductors & Electronics Industry
COVID-19 Impact on Mini Cranes Market in Semiconductors and Electronics Industry ANALYSIS ON IMPACT OF COVID-19 ON MINI CRANES MARKET The COVID-19 pandemic has influenced the whole planet with its significant impacts on the economy and businesses across the globe. The COVID-19 spread worldwide in unprecedented ways due to its high infectious and contagious nature and lack of availability of its vaccine. As a result, the most significant medical challenge in the 21st century is yet to be faced by physicians worldwide. Though the emergence of the virus can be traced back to Asia, many European countries and the U.S. have been struck massively by the pandemic. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East and Africa up to South America. The COVID-19 has been declared a pandemic by World Health Organization (WHO) due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown, such as India, China and other Asian countries, to decrease its spread. The economies have been affected adversely as most of the trade and economic activities came to a halt. The unemployment rate has grown due to the impact and the global GDP fell by -3.5%. According to the situation report of 7th June 2021 by World Health Organization (WHO) stated 174 million cases of corona had been reported globally and 3.7 million patients are dead due to the coronavirus. On a slightly positive note, 157 million people have recovered and a total of 1.9 million vaccine doses have been administered as well. A crane is a machine used to lift and move heavy loads, machines, materials and goods for various purposes. They are used in all different industry sectors, from construction to manufacturing to shipbuilding and material loading. Cranes are common along skylines as they are necessary to build the skyscrapers we so often see in our cities. Mini cranes are relatively small cranes that can move through passages and can be used indoors. Some are also battery-powered and are remote-controlled. These are used indoors for lighter weights of around one tonne. The mini cranes can range from a straightforward lever pulley system to be mounted to a full-fledged machine with a motor and retractable boom for extended reach and mobility. Some mini-cane manufacturers are Hoeflon International B.V., Jekko s.r.l. and MAEDA SEISAKUSHO CO.,LTD. among others IMPACT ON DEMAND AND SUPPLY The mini crane companies have been affected severely as the demand for new cranes has gone down as the construction work has been halted in the pandemic due to the lockdown imposed by most countries. The companies also supply cranes on a rental basis which has seen a decline, but some crane rental services could secure essential services categories based on the clients. As seen from the graph below, the used cranes sold in 2020 saw a decline, but the decline was not steep as the cranes are used, which states that the demand for cranes rose in the last quarter of the year but due to the lack of availability of new cranes and cost cuttings companies turned to used cranes. This demand is driven by a lack of new crane availability and price increases due to higher raw material costs and supply chain delays. For instance, · In September 2020, Kate Lampson, director of PR and communications at Lampson International, stated that due to the type of customers they have and the industries that we service, Lampson International was deemed an essential business initially of the pandemic. Since then, they have been able to remain open and run the business as usual. In terms of upcoming projects, most current and future projects have stayed on schedule, with only a couple seeing delays. IMPACT ON PRICE With used crane sellers experiencing high demand, the supply can be an issue. At Bigge, they have also seen an increase in the price of used cranes. Kraaijeveld finds that there is currently an oversupply of used cranes in the Middle East, especially crawlers, due to delays and cancellations of oil and gas projects and a lower number of infrastructure projects. Prices dropped in June 2020 but rebounded in March 2021. The pricing of used equipment is up 7.8% and is predicted to climb past pre-pandemic levels, as stated by Ganzell. The internet has transformed the crane auctions market, with online sales growth for years. Ritchie Bros. said that before 2020, 70% of its global auction sales were already taking place online and only 30% were onsite in its auction theatres. But the pandemic has accelerated the transition. STRATEGIC INITIATIVES TAKEN BY MANUFACTURERS The COVID-19 has hit the infrastructure industry and halted all the work abruptly in which the rental and new crane demand saw a steep decline at the start of the pandemic. This meant that the rental cranes have to be returned and new purchases were halted. The rental cranes had to be replaced and set up again if and when the work resumed to reduce costs. The government provided support in the form of investment in infrastructure and some service providers also received the essential services category, so they were able to continue the work. For instance, · The mobile crane market in Australia and New Zealand performed well in 2020, despite the direct and indirect effects of the pandemic. In the case of Australia, the government has played a vital role in Sotiris Kanaris's reports. Apart from the effectiveness of its policies that allowed the economy to restart reasonably quickly, the Australian government's investments in infrastructure also had a positive effect on the crane market. Through the strategy, the government says that approximately USD 1.50 billion in new funding will be invested over the next four years to make Australian manufacturers more competitive, resilient and able to scale up to take on the world. · Abu Dhabi, UAE-headquartered NFT specializes in the sale and hire of tower cranes. In September 2020, Nagham Al Zahlawi, deputy general manager at NFT, said: "The COVID-19 has delayed a lot of projects, has put some significant tenders on hold and most importantly has delayed payments from clients. From April to May, 90% of our clients have either stopped paying or requested to re-negotiate rates agreed upon and signed before the pandemic hit or have asked us to remove the months where there was a lockdown. CONCLUSION The pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players and consumers can win the fight against COVID-19. The mini cranes market, majorly driven by the infrastructure projects, was impacted at the pandemic's start due to the lockdown imposed. Some rental crane service providers having the essential services category were able to survive the situation. As seen from the instance, various governments all over the globe are helping the market by investing in infrastructure. The demand for the mini cranes market is steadily rising as the projects are resumed and should stabilize soon.