Few it companies benefit from corona

Few it companies benefit from corona

Many companies in the IT sector have not benefited from the corona crisis, according to a survey. According to the report, more than half of IT service providers (52 percent) have lost contracts this year.

Only five percent of companies see themselves as winners of the crisis, according to a survey of more than 300 IT managers in companies commissioned by the specialist insurer hiscox. The managers were interviewed by bitkom research, the market research company of the industry association of the same name. According to hiscox, the survey is representative.

"On the one hand, it was going through the media every day that the corona crisis meant a big push for digitization," said hiscox manager marc thamm. "But home office or home schooling are just one facet of the rough IT landscape. IT service providers for the travel and event industry, for example, are not doing so well, they are just as affected as other companies."

According to the survey, only a good third (34 percent) of IT professionals reported that their customers had in fact pushed ahead with digitization since the start of the corona crisis. Thamm referred to the digital index from bitkom and the ifo institute from the spring, in which the forecasts for the digital economy had turned out to be the worst since 2009.

"In general, however, we are observing that the bander are rolling again," said thamm. "Much of what was put on hold in the early and mid-2020s is now coming back on the agenda."

Thamm does not believe that the crisis and rising unemployment are slowing down digitization: "we have several factors that are contributing to the fact that some work processes are being relocated back to europe," said the hiscox manager, referring to the corona pandemic, trade conflicts with china or the brexit. "Many companies are faced with the question: how do i keep my business in line with the market in a comparatively expensive place like europe?? Digitization helps and will also create new jobs."

Hiscox is a long-established british insurance company that specializes in niches such as IT insurance and art insurance. The german branch is located in munich.

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