Recent pandemic of COVID-19 has impacted more than 200 countries and claimed more lives than any other pandemic in the 21st century. According to an article published by Trace Media Ltd., the overall impact of COVID-19 turned out to be worse than any recent critical economic, strategic, and political clashes happening around the world. The impact is not limited to human health; this pandemic has affected every industry economically and the global information & communication technology (ICT) sector is no exception to this. Majority of the local and multinational ICT corporations recently halted majority of their manufacturing operations, cancelled their participation in important events and conferences, and announced financial projections below expectations.
The ICT sector has already suffered considerable losses owing to COVID-19 in the first quarter of 2020. However, the industry is determined to make a solid comeback and the average industry growth will be in the range of -7-8% by end of 2020.