Industries that could see a rise Post-Pandemic

The pandemic has had an adverse effect on every sector. From the monthly budget to the global economy, everything was going downhill. However, every change brings in plenty of opportunities. Every industry is strategising to come up with its own ways to cope with the crisis and survive. Although a few industries have hit hard, many industries are expected to grow bigger.

In this article, we will discuss the possible industries that will see a major boom post-pandemic. Following is the list of such sectors.

Health and Fitness

As everyone is working from home, a balance between work and home has vanished; there is no routine as such. This has given people plenty of time to invest in their own selves. Health and fitness is a priority these days for everyone. With all the time spent in the pandemic, we have realised the importance of good health. This will create a business boom for the health and fitness industries. Post pandemic, creating fitness routines that are attainable for the 9-5p.m cycle will attract a mass crowd. The industry will keep growing as everyone is now much more focused on living a healthy and peaceful life. So, most of us can make time for our health despite the busy schedules post-pandemic too.

Web Conferencing

As every sector and industry has shifted to digital platforms because of the current situation. Web conferencing is the only way to connect and communicate in work from home culture. By 2025, the web conferencing industry will reach up to $12.58 billion. Popular online meeting platforms like Microsoft Teams, Google Meet, and Zoom are witnessing a large surge in the number of downloads and web meetings. This will keep continuing even post-pandemic as several companies are opting for the remote working platforms. They are also looking for opportunities to improve the present WFH that is beneficial to everyone. So, the upcoming web conferencing platforms will have plenty of demand as well as competition.

Online Education

Although several companies have resumed back to their regular offices, schools are still conducting online classes. Other than this, platforms like Webex are getting popular too. This is useful in harnessing online courses, webinars, and expert live talks. When students get back to schools and colleges, too, online webinars and streaming will not lose their demand, as distance learning is promoted heavily. It is easier to connect with experienced personnel without disturbing their schedule. Online courses will also create opportunities for students to explore much more in their respective fields. They can catch up on missed out topics, learn new skills, etc., through online mode; in most cases, there is a recorded session of the class conducted to which students can refer later also to clear their doubts. This Online learning concept is much needed with the increasing competition in the post-pandemic world.

Pharmacies and Medical Services

The businesses of the pharmaceutical industry are breaking all barriers given the present situation. People are reaching out to medical services like never before. According to PwC, the CAGR of the pharma industry will be more than 15% in five years. The government will also allocate a large investment for medical services post-pandemic. The online consultation, technological advancements in medicine are going to create a huge difference in the industry. As many people will become conscious of their health, an increase in health insurance is expected. All these put together will surely multiply the pharma and medical services even after the pandemic.

E-commerce Business and Logistics

Digitalisation is the new globalisation. Online buying and selling was an industry that saw huge profits even before the pandemic hit us. People are also avoiding supermarkets due to the fear of the virus. The logistics industry and e-commerce business go hand-in-hand. The logistics industry will see a major increase in medical supplies, food products, fresh produce, and even raw materials. People will also get used to buying things through e-commerce channels for fast and safe deliveries. As online platforms are intensifying, e-commerce and logistics will receive large requirements in the coming days.

Movie/Video Streaming Services

Netflix and Amazon Prime are very popular video streaming platforms, just like many others. The number of subscribers during the pandemic alone crossed millions. Several other platforms for video streaming are getting popular. As the movies are closed, these online streaming services are the only entertainment. Moreover, movies, short films, and series are getting released on these platforms. It will take quite some time post-pandemic for people to trust theatres. With home theatres and internet TV options, online streaming applications seem effective, and everything in one place seems less hassle. The yearly subscription is much cheaper than spending it on movie tickets or cable TV making it cost-efficient. People will prefer this as it can fit in their schedules too.

Electric Vehicles

The use of energy-efficient products is the future. When all industries came to a halt, the automotive industry shifted its goals to electric vehicles. These EVs are better than petrol vehicles at more than 40 km. Also, the demand for electric vehicles is increasing. This will create new jobs post-pandemic for several people. The requirements to run an electric vehicle is also plenty. Charging points at homes, parking spaces for EVs in compact homes are a few challenges. If the supply of EVs increases, it will create opportunities for electric and construction industries too. Everyone is getting conscious of the environment and the depletion of natural resources. The cost of petrol or diesel might surge post-pandemic, so EVs will work out as a great alternative.

Commercial Cleaning Industry

Without any doubt, the cleaning industry is an industry that will grow along with the GDP. Post pandemic, as all the companies, schools, colleges, offices, and markets open up, cleaning products will have huge demand. The productivity of this industry will also increase drastically. Anti-bacterial soaps and alcohol-based cleaners are preferred too. People tend to use these products whenever they leave home or the office and also while returning home. This will become the new normal that will help the cleaning industry boom. The government is also looking for ways to keep the city and country clean. As we all have realised the effect of staying clean, these products will not lose their demand post-pandemic too.

Conclusion

We hope this article gave you an insight into the industries that are expected to rise after the pandemic, the market changes as per the customers' demand, and the necessity of the situation. We are witnessing that right now. It is always important to study the market before investing or starting a new business, so be careful and do your research.

Also read:
All About Small & Medium-Sized Enterprises (SMEs)
What Is the Startup India Campaign?
How to Get an Electric Vehicle Dealership? Read this 101 Guide
Electric Vehicle Charging Stations in India: Scope & feasibility

FAQs

Q. How will the industries around us change post-pandemic?

Ans: Every industry will start providing remote services. Customers will also seek services that are quick and safe online. Especially in the medical industry, remote services like telemedicine will benefit plenty of people. This will help in reaching out to a lot of customers. It will provide a solution to the present situation as it is a touchless service. Automated technology will replace the human workforce as much as possible too.

Q. What are the challenges for industries that are expected in the post-pandemic?

Ans: Cybersecurity is one of the biggest challenges for industries. As everything functions through the internet, the effect of data speed can affect their functioning. While trying to solve data issues, enterprises must also consider cybersecurity. Reducing cyber crimes using blockchain, VPN is a few methods. It is also important to acknowledge the employees about the safety measures against cyber-crimes.

Q. What are the changes that customers will experience in everyday life?

Ans: Customers will start adapting to the new changes in the everyday industries. This will include increased mobility, visibility, and convenience. As digital businesses emerge, customers will become more reliant on the industry than before. This is an advantage for both the industry and the customers. However, safety and security will become a major challenge for both.

Q. How will the emerging industries and businesses get affected?

Ans: The competition from the top companies in any industry is a significant challenge. The financial support to create a revolutionary start-up amongst this competition is a difficult task. Incorporating new strategies according to the industry is very important, and it can make a difference. However, with efficient marketing, it is possible to knock out such obstacles.