Ever since the pandemic hit the world, the only news and reports we receive about the pandemic are the negative ones. All the countries and economic analysts talk about are the losses they have incurred due to the pandemic and how they are trying to recover from them.
However, Israel Figa, a world-renowned analyst and researcher, talks about the growth and uptrends the sectors have experienced due to the pandemic, and the circumstance created due to its worldwide spread.
Israel Figa talks about the growth of industries such as Software Industry, Semiconductor Industry, E-Commerce Industry, and Online Trading Industry.
Software Industry
Israel Figa has stated that due to the pandemic, the Software industry has gained a lot of growth and adoption. The major reason behind the growth of software industry are the lockdowns and curfews that took place during the pandemic. As majority of the companies shifted from work-from-office (WFO) system to work-from-home, they had to ensure that their critical/sensitive information was protected and secure.
This is the reason why companies adopted the software assistance of several companies such as Amazon Web Services, Microsoft Azure, Google Cloud, Alibaba Cloud, and many more. Companies from all over the world adopted these software utilities to ensure they were able to deliver cloud-computing services to the users. This gives companies the authority over the amount of information users can access from company’s data centers.
According to figures, the growth of the cloud computing industry in the year 2019 was around $242.7 billion but in the year 2020, the overall growth had grown all the way up to $347 billion.
Semiconductors Industry
Israel Figa has stated that the Semiconductors industry is another sector that has demonstrated significant growth in the year 2020 as compared to the previous one. Although the entire world was shut down for 10 months in 2020, yet the semiconductor industry gained so much growth that it exceeded growth rate of the industry compared to the former year.
Several companies around the world manufacturing electronic devices, cars, appliances, and any sector using the semiconductors have reported growth in their sales in the year 2020 as compared to 2019. Even when the world started experiencing shortage of semiconductors in the last month of 2020, still the industry managed to grow all the way up to $249 billion, which was $219 billion in the year 2019.
E-Commerce Industry
The third industry listed by Israel Figa is the e-commerce industry, which is the second highest grossing industry amidst the pandemic. As the pandemic hit the world, resulting in mass lockdowns, and people being confined to their houses, majority of them carried out all their shopping activities through the e-commerce industry.
Israel Figa states that in the light of the above, the total sales accomplished by the entire e-commerce industry including the e-commerce giants such as Amazon, AliExpress, Target,BuyDig, and many more were around $4.28 trillion in the year 2020. This is around 27% increase that the e-commerce industry has achieved compared to the year 2019, which showed sales worth $3.35 trillion.
Online Trading Industry
According to Israel Figa, out of all the industries, the Online Trading sector is the one that has gained most amount of success and growth in the year 2020. Because of the pandemic, millions lost their jobs while more are still in the process of losing them because the situation is still not fully recovered. Majority of these people have resorted to online trading industry where they are able to invest and make quick money.
Currently, there are five major assets that have gained enormous growth in 2020, and their names are forex, commodities, stocks, indices, and cryptocurrencies. The sector that has gained the highest amount of growth in the year 2020 is Cryptocurrency. Although, many investors are still reluctant to invest in cryptocurrencies due to their online and decentralized nature, still the industry has grown from consisting of 30 million active users in 2019 to 106 million active users in 2020.
Furthermore, in the year 2019, the overall market capitalization of the entire cryptocurrency industry was at $193 billion, which climbed all the way up to $760 billion by the end of December 2020.
