Why Research and Development Is Mandatory in IT Industry
BSI, 22nd JANUARY 2021
Why Research and Development is Mandatory in IT Industry
Pandemic always brings Twin Crisis; Health and Economic Crisis. Likewise, Covid-2019 put forward the big recession globally. The incubator country of this VIRUS could not control VIRUS’s spread during the early months of inception. The outbreak was so massive that it had shaken the world’s best health Infrastructure. Financial instability maximizes the severity of health risk factors. People who cannot afford to survive without a single day’s wages were managed to stay with the help of government aids. Cyclical unemployment hit worldwide, scarcity of jobs, and unemployment reduced demand for production, and hence the world witnessed a demand-led recession. This article will focus on how COVID-19 reshapes ICT services severely.
The study said that Job crisis would be there till 2021. Big fat economies are suffering from money injection. Fund crisis became one of the major hindrances for decision-makers to strengthen the economy.
Companies are spending high on their Research and Development department to avoid further losses. Analysts, financial advisors, and investors concur that vendors should continue to invest in R&D aggressively. To generate more profit that will create employment and employment is one of the major factors to boost the economy and that will lead towards growth in the GDP index.
“The high tech vendors whose businesses are thriving are those that have doubled down on their R&D spendings like Amazon, Alphabet, Huawei, IBM, Invidia, Microsoft, and Samsung, to name a few,” said Rob Enderle, principal analyst at the Enderle Group in Bend, Oregon.
During the global crisis, thriving the way to survive can only be found out through rigorous Research and analysis. A product cannot be developed in any industry without a good team of researchers and analysts. A product needs to be correctly analyzed, gauged, experimented with before production. In this significant process, no big company takes a risk. And in the post-pandemic scenario, creating any service or product, investment in Research is a highly required part of development.
The study said that information and communication technologies (ICT) services firms are “less negatively impacted” by COVID-19 than other sectors as they always spend high on R&D. The hottest market segments in 2020 and heading into 2021 and beyond are security, cloud computing, AI, analytics, 5G and 6G, and mobility.
Business Software India started its journey as a Software Development company in 2017. We understood correctly that any product could not be perfect enough without rigorous Research and analysis. We do Research and development before starting any of our projects; products like a blockchain-based prop-tech platform to mitigate serious issues of real estate, fiat exchange software, crypto exchange software, money exchanger, high-level software for aggregator service, customized web development.