A lot of industries could no longer access essential resources because of lockdown
GlobalData found that the COVID-19 outbreak made China not only slow down manufacturing but to completely stop it since the country went into lockdown.
Due to the fact that many industries are reliant on components that are manufactured in China, worldwide supply chains have been impacted drastically.
The report revealed that Apple has suffered more than most companies around the globe. Indeed, over 90% of Apple’s products are made in China and the Chinese marketplace accounts for 18% of its incomes.
According to the statement, firms are trying to enable remote working so that they could keep themselves running. Although that is good news for laptop suppliers, COVID-19 might affect general consumer confidence thus dropping the demand for electronics until the whole situation gets better.
At the same time, drones and 3D printers faced high demand amid the pandemic. For instance, drones are being used on the front line to deliver medical supplies and ensure the people stay at home. As to 3D printing, it supplies hospitals with spare parts for respirators.