Like many other industries around the world, the software development industry has been taking a hit due to the pandemic that is haunting the world. Sure, this business sector wasn’t hit badly like others, but that doesn’t mean it hasn’t felt any financial strain. The following will help you understand how it’s been affected and what the industry might do to recover from COVID-19’s assault.
How Has the Software Development Industry Been Affected?
The software development industry has been affected in several ways. To understand the industry’s plan to recover, you have to understand how it’s been affected. The following are a few examples of how this pandemic has impacted several aspects of this world:
Global Tech Supplies in Trouble
Software development relies on raw materials to create hardware. This is something people outside of the industry tend to overlook, but it is pretty important.
Many manufacturing companies around the world have closed their doors or are operating at low capacity, which is affecting software developers’ ability to complete their work. Manufacturing companies operating at low capacity, or closing completely, are doing the right thing since it means they are helping the world by reducing the chances of spreading COVID-19, but that doesn’t mean it’s not affecting the industry.
Shortages in supplies are driving delivery prices up, and it is also forcing the few manufacturing companies still operating to increase their prices. Up and coming developers within the industry who might have had a chance to make it are now having trouble staying afloat.
Cancelled Tech Conferences
Several regions around the world imposed strict rules to ensure the spread is reduced. One rule some regions imposed is banning large gatherings, which means social events are not taking place like they used to.
This may not seem like a big deal, but that’s not the case. These strict rules have impacted the software development industry in many ways. This business sector relies on conferences for all sorts of reasons; for one, leaders in the industry meet and exchange ideas about the future of development.
Sometimes, the industry relies on these conferences to find talent. There’s always someone out there developing the next big thing, and software development events allow big companies to discover the next big thing in development.
All of this and more has been thrown out the window because of the pandemic, and it is not only hurting tech giants but also the up-and-coming software developers hoping to get noticed.
Uncertainty is Hurting
The industry is also suffering from uncertainty, which is affecting other industries as well. This uncertainty is hitting every company from the bottom up and all around. It’ll be hard to find a person in any industry that feels everything is going to go back to normal soon, which is creating tension that could squeeze any industry.
Employees who still have a job in the software development industry fear losing their jobs. This level of uncertainty is not a good thing for any company for various reasons.
For one, many people are scared to rock the boat at the moment, and sometimes, improvements are made when you rock the boat. On top of that, working under pressure could hurt productivity, and that can squash creativity that the software development sector relies on.
Also, many people are out of work at the moment. The software development industry has been growing rapidly for years, which has attracted many people, but now they aren’t getting hired.
Uncertainty is making companies within the industry halt hiring new employees. Finding the right candidate requires resources; training people costs money, and these are the kinds of things no company wants to do right now. Everyone is being careful, and that is hurting this sector as well because new hires are hungry to work and ready to contribute new ideas.
It should also be pointed out that revenue isn’t flooding in at the moment. Many of these companies are still working just fine, but industries like this depend on investors who are willing to financially back a new, somewhat daring project that can lead to innovation. Investors feel uncertain, and that is also hurting the industry because they are being a little more careful with their money.
These are some ways the pandemic is hurting software development, but this business sector is resilient.
How the Industry May Recover From the Pandemic
The industry is seeing the challenge and is trying to meet it in effective ways. The following are a few examples of what the software development community is doing to recover from the effects of this pandemic:
Online Communication and Conferences
The reality is that internet-based communication has been on the rise for some time, but this situation has changed things a bit.
Companies from all corners of this industry are actively investing in IT solutions to ensure they can communicate with others around the world through video conferences. There’s also a focus on web design to ensure that all online communication is done seamlessly with the help of companies like Vironit.
Furthermore, this industry is starting to see the importance of providing reliable internet throughout the globe. For a long time, many communities were ignored by internet companies. This makes it difficult for people from smaller communities to connect to the internet and interact with tech giants.
There are smart software developers hidden away in various places around the world, so this new focus on ensuring the internet is widely available is going to help this industry and others expand.
Expo shows are events where people can meet others and share software ideas, and this can be done online. If any hardware needs to be examined, the delivery industry will be used. Depending on how long this goes on, the delivery industry may be boosted, thanks to the software development industry.
Working From Home
Being able to communicate with internet-based tools that are only going to get better makes it easier for employees to work from home. Because of this pandemic, this is no longer something that only a few companies are doing; it is now spreading.
The good thing about this new way of working is that office costs could be reduced if not eliminated, which helps the industry grow and invest in other areas.
Having folks working from home also helps improve productivity. People may be used to working in an office, but working there could be distracting for various reasons, like office politics or a noisy coworker. Working from home allows employees to work comfortably, and some are loving it because they get to spend more time with family.
On top of being able to be with family, people can travel more, and that could help stimulate the economy, which is a good thing for all industries around the world including this one.
Some industries are rising in demand because of this pandemic that probably won’t end until there is a vaccine. The entertainment streaming industry and the gaming industry are two of the industries seeing demand explosions that they can’t handle.
The software development industry can find ways to supply tools and better software to these industries to meet demand. The reason these industries are seeing a demand increase is that people are stuck at home.
People get bored and look towards entertainment that they can rely on at home, such as streaming movies, shows, or video clips. The gaming industry is providing games and human connection if you play a game that is connected to the web. The demand is so great that it’s hard for these industries to keep up, which is why software support is more important for them now.
Providing these industries with everything they need can support the software development industry and may help it come out of this unscathed.
There is no telling how the pandemic is going to change the software development industry in the long run, but it seems clear that the sector is quite resilient and is effectively finding the silver lining.
Interesting related article: “What is Software?“