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Impact of COVID-19 on Mobile Augmented Reality in Information & Communication Technology Industry


COVID-19 Impact on Mobile Augmented Reality in Information and Communication Technology Industry

ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET

The pandemic started with its epicenter in China in 2019 and has been continuously spreading by then to all over the world, so far 216 countries and territories have been affected with COVID-19, U.S. being on the top with cases reaching to about 4.38 million, followed by Brazil, India and then by many European countries such as Russia, Spain, Italy and others. The COVID-19 cases reaching to the big named countries with strong dominance in the market which has adversely affected the economy globally. The spread of Coronavirus has led to the global recession, many companies are being bound to take stringent actions of laying of their employees, small business are being shut, manufacturing facilities are being put on hold. There has been a disruption in supply chain of many industries due to restriction in logistics and closing of manufacturing facilities. In addition, the slowdown in economy has lowered the spending capability of individuals and people are saving money for emergencies.
The pandemic has led to the growth of digital era, the users and industries have shifted to online sources and digital platforms for their daily operations. Mobile Augmented Reality enables digital transformation to be imposed and integrated into the physical environment. Mobile AR is a platform that will help turn their immediate world into learning, work and entertainment environments, with customers now at home during this global pandemic. The mobile augmented reality has thus been benefited by the increasing requirement of mobile augmented reality in gaming, e-commerce, education and other industries.

IMPACT ON DEMAND AND SUPPLY CHAIN AND LONG TERM STRATEGY ADOPTED BY MANUFACTURERS OR STEPS TAKEN

The behavior of the individuals have certainly changed in the pandemic, people are now more concerned towards their health. The government is also working on research and development to develop vaccine and avoid any further pandemic as such. The government is using augmented and virtual reality for the known disasters which can help in reducing the effects of the disaster.
For instance,
· In May 2020, During the COVID-19 pandemic, smartphone AR apps became particularly useful in helping shoppers interact with goods prior to buying. Also, pandemic leads to higher adoption of Augmented Reality.
The pandemic has boosted the digital transformation of industries; companies are focusing more on digital platform to interact with their clients and customers. People working from home are also more reliable on digital sources. In regards to this the tech giants of mobile augmented reality need to sustain in the evolving market. The e-commerce market is increasing rapidly in this pandemic and mobile augmented reality can be taken advantage of by creating an artificial visual of the clothes that people like or superimpose the image of furniture on the place it needs to be place. The education and healthcare sector is also to be targeted as they are the industry getting high digital transformation in this pandemic.
The pandemic has adversely affected the sales of the companies as the demand has reduced due to several factors such as slowdown of economy. People are saving their money in order to use it for emergencies and companies have lowered their investments. Companies are using their capital to pay rent, mortgages and salaries and are not investing heavily on new projects.
However, the digital transformation of various industries and the people spending more time on digital screen is gradually increasing the scope of growth for the market. The growth has highly increased in healthcare sector as the demand for skilled doctors and for research increases. The mobile augmented reality is highly beneficial for the healthcare sector to help in extensive training. The education sector is another sector which is using augmented reality for training purposes increasing the growth of market in pandemic.
The supply chain was adversely affected in the initial phase of the pandemic as lockdown prevailed in many regions globally, government had limited the workers. However, companies are making their operation work according to the government regulations by making limited workers work in different shifts. The companies are doing its best to meet the increasing demand.

CONCLUSION

As the COVID-19 prevails the initial period saw a disruption in both supply and demand of the mobile augmented reality. Most of the manufacturing facilities were closed bringing down the production of AR/VR device manufacturing companies. However, as the markets are getting digitally transformed and people are being more rely to the digital sources the market seems to be growing. With most of the education institutions closed for time being the mobile augmented reality can provide enhanced education capabilities to the students. The digital transformation of the companies during the pandemic will highly utilize the benefits offered by mobile augmented reality technology. Healthcare, education and retail sector will act as major boosting factor for the growth of the market in this pandemic.
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Technology makes everyone’s lives easier, having positive as well as negative impacts. The most suitable saying for it is “Every coin has two sides.” Straight to the point of positive impacts, people get everything they need with the help of mobile apps. In the digital era, everyone has smartphones in their hands. So, it is easy for everyone to avail of any services hassle-free. For instance, Practo is a doctor appointment booking app that facilitates users to book appointments and even get video consultations with doctors (virtually). Undoubtedly, doctor consultation apps like Practo get well noticed among many over the past few years, especially amidst the Covid-19 pandemic. This app helped the patients to connect with the doctors even during the crisis. Yes, a big thanks to technology! Without it, it is hard for everyone to survive the tough times. Entrepreneurs aspire to launch an app like Practo: Do you know why? An app like Practo is only helped patients but also cultivated the idea of launching a similar app for entrepreneurs. Recently, the healthcare industry has been revolutionizing with the emergence of one such app. Even so, there will be room for new apps, which inspires new-age entrepreneurs to launch their doctor consultation apps. A proven statistics of Practo that inspires you to have a thought of entering the on-demand industry with a doctor consultation app are explained here. After a three-year gap, Practo has secured $32 million in funding from investors like Chinese life insurance conglomerate A1A company, Sequoia Capital, Tencent, Sofina Ventures, and Matrix Partners. From March 2020 to May 2020, there is a significant rise in the demand for online doctor consultation apps. This app is handling more than 50 million appointments with more healthcare professionals registered with it. In 2020, the revenue generated by Practo was nearly $2 billion. Moreover, the online healthcare industry’s net value is expected to touch US$270.3 billion by the end of 2021. It is a 23.6% surge when compared to the previous years. Launch a Practo Clone app packed with significant features Practo Clone is a mimic of the original version of Practo in terms of functionality and features. Replicating the success concept will ensure the possibilities for business success. The most common features of the on-demand doctor consultation app you could consider incorporating into your Practo Clone are listed here. Practo Clone app comprises Doctor app, Patient app, and Admin panel. Features of Doctor app In-app chat Multiple payment options Search filter Health records Features of Patient app Digital prescriptions Availability toggle Edit appointment bookings Feedback Features of Admin panel Maintain records Create sub-admins Ad management Manage users details Apart from the general features, add advanced & innovative features to make your app unique. Stand out from the crowd! How can you make revenue out of it? You can implement multiple revenue streams based on the business model you choose. You would get considerable revenue only when your app has a larger user base. Perform effective marketing campaigns to reach out to your target audience. Thereby, you can make more revenue from your app. Three effective monetization strategies are as follows. Commission charges In-app advertising Featured listings Final note It is high time to enter the on-demand industry. Utilize a readily available Practo Clone app loaded with user-friendly features. Launch your on-demand doctor consultation app and make earnings.
Establish A Prosperous On-Demand Business With a Gojek Clone App
The intriguing popularity of multi-purpose apps has made people ignore single-purpose apps whenever they opt for different services. Be it food delivery, grocery delivery, ride-hailing, flower delivery, medicine delivery, beauty service, electrician/mechanic service, or other on-demand services. They can access any of these services under a single roof. In the busy business world, people always seek on-demand services apps in day-to-day activities. One such good example of a multi-service app is Gojek. This platform will connect the customers who want to avail of services with the service providers. It is the most popular app in Indonesia, setting an example for other startups. If you intend to take the chance of entering the boomy on-demand sector, utilize the Gojek Clone Script solution. In this blog, let us see how the Gojek Clone works and possible ways in which you can earn money from it. Captivating business model of the Gojek App Clone The Gojek App Clone involves three segments, namely Customers, Merchants, and Drivers/Delivery people. The working of these segments will differ as the feature integrated will vary. The users who need to avail services should have their accounts in the app. To do so, they have to sign up and create their profile with the required information. They can look for service providers based on their experience. Or else, they can browse for services they need. Upon selection, they can book the service. They have the option to schedule it based on their convenience. In case of purchasing the products, they have to choose the product and it will be added to the cart. After that, they are supposed to choose the payment options as they wish. On the merchant side, they have the option to accept the request and prepare the order. It is in the case of delivering products. Then, the delivery person who is assigned to deliver the order will reach the store and collect it. Through the GPS tracking system, the delivery person reaches the customers’ location to hand over the order. Whereas, in the case of services like plumbing, the service providers will reach the customer's location to render the service. Ways to generate income from an app like Gojek The commission-based revenue model will let you charge a fee from the service providers or merchants for every placed order via the app. Collect a minimal fee from the customers who are making use of the app to avail services every time. The delivery person or drivers have to be charged a certain percentage of a delivery commission fee for getting order requests through the app. Final notes The way people avail services has taken a drastic shift in the last few years. Thus, adapting to the changing environment will obviously turn out to be successful. Therefore, invest in Gojek like app development and step into the ever-growing on-demand market.