There's no denying that the COVID-19 pandemic has caused chaos throughout the worldwide economy. However, where certain industries have suffered heavily - hospitality and retail, to name a few - the acceleration in a necessary shift towards a digital existence has seen a number of sectors benefit greatly from the pandemic. Endless stay-at-home orders and the trend of working from home has made people reconsider how they live and consume things, and while some of these 'winners' will be temporary, many will stand the test of time and continue to thrive long after the virus has been brought under control.
1. EdTech
Educational technology or 'EdTech' in startup speak, was already on an upward trajectory prior to the pandemic - institutions were gradually trying to incorporate digital frameworks, but uptake was slow. When COVID-19 forced the closure of schools and colleges, however, the employment of EdTech platforms was virtually instantaneous, with institutions realizing that they literally had no other choice. This trend looks set to continue, as pupils become more and more familiar with the more accessible distanced, digitized learning.
2. Online Gaming
With millions of people confined to their homes or even their bedrooms, the already booming trend of online gaming is only getting bigger. Many gaming companies have reported huge revenue growth since the pandemic and expect this to continue as customers adapt to a permanently different way of living. Not only is gaming becoming evermore sociable - with headsets and multiplayer connection improving all the time - but there is also a huge market for watching top gamers go about their business, much like how we tune in for a game of basketball or soccer.
3. FinTech
Another sector that has experienced rapid growth since the start of the pandemic, FinTech (financial technology) has thrived off the back of a need for contactless payment solutions and subsequent changes in laws and regulations that facilitate growth in this area. As a result, users are enjoying a more personalized, varied financial experience and eagerly awaiting new trends in a sector that looks here to stay, long after the pandemic has subsided.
4. Managed Workspaces
'Working from home' has long been discussed in the world of work, with many companies reluctant to give employees such freedoms due to concerns over productivity. The global pandemic has had to cast any concerns to the wayside, as millions of formerly office-bound staff members began their new 'WFH' life. Many companies have been delighted with the results, seeing productivity remain stable or even improve in some cases. Furthermore, the cost savings on often extortionate office space operational overheads have rendered many traditional offices obsolete. While remote working full-time suits many, plenty of workers seek a space to work that is separate from their home life, which is where managed workspaces come in. Far cheaper to run for employers whilst giving their employees flexibility if they need it, this new type of working environment looks set to be around for years to come.