The African telecoms, media and technology market will require precautionary measures to prepare for the impact of COVID-19
As the new decade dawned, the industry prepared to enjoy great prosperity through new technologies and digital services; then came one of the largest and most disruptive virus outbreaks the modern world has ever seen. The World Health organization (WHO) declared COVID-19 a global pandemic on March 11. While China is heading toward a steady recovery, Europe and the US have closed their borders and are in the process of locking down tens of millions of people in order to contain the spread. Many governments are faced with a difficult dilemma: Save as many lives as possible, especially among the most vulnerable, or protect the economy?
The impact of COVID-19 on the global economy will be significant and cannot be avoided. Whether it will last a few months, a year, or even longer remains to be seen. Precautionary measures are necessary to protect entire industries – including retail, commercial aviation, tourism, and hospitality – from falling apart. The technology, media, and telecoms (TMT) industry may not be as much exposed as these to the effect of social distancing and lockdowns, but there will be a significant impact on digital services consumption and resulting revenue.
This report, by Omdia, evaluates the impact of COVID-19 on various digital consumer services segments such as mobile communications, mobile apps, broadband, TV and video, digital commerce, advertising, and gaming among many others. Recommendations on how to respond and prepare for those impending changes are provided throughout, along with some examples that have emerged in the past few days.