The increasing number of cases of patients infected with a coronavirus worldwide has turned the stock market upside down. Schools and colleges are closed, people working remotely, as maintaining strict social distancing measures is most crucial in preventing community transmission of the virus.
So, to stay connected, people now rely heavily on the Internet, which has improved the prospects of cloud players.
Given the epidemic, classified as a pandemic by the World Health Organization, governments impose strict measures of social distancing.
In particular, since the virus was first detected in China at the end of last year, the total number of people infected worldwide has risen to 1,484,811 as of April 8, according to data compiled from Johns Hopkins University. In fact, the virus has already spread to 184 countries, killing more than 88,000, suggest the data. On the positive side, the data shows a recovery of 329,876 people.
Pandemic boosts demand for cloud computing
So in the fight against the pandemic, when mass gatherings are strictly limited and people are increasingly invited to work from home, cloud companies have come to the rescue. Amidst stringent lockdowns, the demand for online courses, video conferencing, games, e-commerce, and distance collaboration has increased. Fortunately in today’s world, these services are readily available.
In addition, to cope with the epidemic, big data has become one of the main assets of the health industry. So storing and managing this huge amount of data is of the utmost importance, where cloud companies are becoming a key player.
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Based in Redmond, WA, Microsoft Corporation MSFT has witnessed a considerable leap in the use of teams. In just one week, millions of daily users spent minutes calling and meeting on the platform, thanks to lockdown measures. The # 3 ranked company also announced that in March, Skype usage jumped 70% with around 40 million people using the platform daily.
Based in Hangzhou, People’s Republic of China,Alibaba Group Holding LimitedThe BABA cloud business unit is ready to assist healthcare professionals around the world in their research on coronavirus treatment. Since the need for Chinese doctors to share information and knowledge about the virus with the rest of the world is of paramount importance, the No. 2 ranked company plans to help them create a virtual community.
Amazon.com, Inc. AMZN, headquartered in Seattle, WA, provides reliable and cost-effective cloud computing services through Amazon Web Services (“AWS”). In particular, people use cloud software hosted by AWS on a large scale because they work from home. The stock currently carries a Zacks # 3 rank.
Based in Mountain View, California, Alphabet Inc.GOOGL Google Cloud has seen an increase in its remote data storage and processing services. Google Hangouts Meet, the video conferencing and collaboration tool for the # 3 ranked company, has seen an increase in daily use. Google Classroom, developed by Google for students, has also seen widespread use.
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