TECH BUYER May 2020 - Tech Buyer Presentation - Doc # AP46308220
The Impact of COVID-19 on the India Manufacturing Sector
This IDC Market Presentation discusses the impact of the COVID-19 on manufacturers and their supply chains in the India market.
Key takeaways from the presentation include:
- The COVID-19 outbreak that began in Wuhan, China, in late December 2019, has continued to spread, shutting down an extensive number of sectors, including manufacturing, services, retail, and tourism.
- Supply chain material disruptions have occurred, as several states in India are under lockdowns with intermittent relaxations in place. India is currently under the third phase of lockdown and the government has hinted that there might be a fourth phase starting from the May 18, 2020.
- Several manufacturers in automotive and mobile phone space have indicated that they have restarted or in the process of restarting their respective operations in India.
- Organizations priorities have changed considerably in the last three to four months, with majority of the CIOs indicating that the current business environment dictates the need to be remotely connected to the core organizational applications to ensure business continuity.
- Manufacturing is still the most opportune segment in terms of IT investments as we head toward the rebuilding and revamping stage with focus on centralized decision making and process automations along with technologies such as cloud, Internet of Things (IoT), big data and analytics (BDA), artificial intelligence (AI), and cybersecurity that are pivotal to enabling value chain visibility
- Short-term, midterm, and long-term opportunities are presented to reduce the impact of serious events, such as the recent COVID-19 outbreak.
"The impact of COVID-19 on businesses worldwide has been unprecedented that has resulted in creating both supply and demand shocks; but this is also a time when manufacturers need to start looking at their processes and start investing in intelligence that allows them to understand initially their process gaps that can feed into their automation ambitions and then identify ecosystem partners that can help them wade through the next crisis more efficiently," says Sampath Kumar Venkataswamy, research manager, IDC Manufacturing Insights.
Big data analytics and discovery, COVID-19, Cognitive/artificial intelligence, Collaborative applications, Global IT and economic markets, Internet of things, Supply chain management applications, Technology buyer