While 2020 was a roller coaster for every industry out there, technology is the one that seemingly saw a mix of everything. From the changes that had everlasting impact to those that led to devastating effects, the tech industry saw it all. We will try to assimilate the good, the bad, and the ugly that happened with tech in 2020 by doing a recap of the year.
2020 was an overwhelming year, and this unique billboard by Twitter sums it up quite nicely.
As we move on the next year, why not do a short recap of the most notable things that happened in 2020. Starting with the good things, we will slowly move towards those elements that made everything pretty tense. Let’s recap 2020.
Let’s start with things that went in favor of the tech industry in 2020.
EdTech sector finally got attention
Probably the biggest benefactor of COVID-19, EdTech finally got its most deserved place in the market. More EdTech companies gained prominence when the world went into a collective lockdown.
As of January 2020, there are 14 EdTech companies that have a valuation over 1 billion US dollars, according to Statista
When parents around the world were struggling to find answers to the indefinite pause in education, Digital Learning served like a torchbearer. Today, teachers and students engage with each other via a range of digital platforms, such as online courses, digital textbooks, mobile applications, and engaging devices.
With the current pace, the e-learning market worldwide will to surpass 243 billion dollars by 2022.
Rise of video-conferencing
The biggest challenge during lockdown was communication, and we all know and probably love the angel rescuer – Zoom. Zoom quickly became the favorite of everyone. From trainers to tutors, and professionals to students, Zoom was the only video conferencing software enabling communication before the arrival of its competitors – Microsoft Teams, Google Meet.
From offering yoga classes to celebrating Thanksgiving together, zoom helped bring everyone and everything together during the pandemic.
Arrival of 5G
Not in its entirety, but 5G is here. The fastest mobile technology in the world has started building its foundations amid the global pandemic and economic challenges.
While some countries like South Korea and the United States are leading in 5G, network service providers are in discussions with the governments of different countries to deploy the technology sooner. Even smartphone makers have started manufacturing 5G-enabled mobiles.
Here’s a list of things that didn’t come pleasantly to a majority of denizens of the tech industry in 2020.
No more tech conferences and events
Your most favorite tech conferences, be it Microsoft Ignite, Hubspot’s Inbound, or Oracle OpenWorld, were either moved to virtual or cancelled. While the virtual events might have seen some degree of success, nothing beats the experience of flying thousands of kilometers and getting to see the pivotal leaders of tech speak on a platform you love to be a part of.
Google was hit with the biggest lawsuit ever by the DOJ (Department of Justice) on October 20, 2020.
Questioning Google’s dominance over the search market, DOJ went into battle with the parent company Alphabet Inc.
According to the latest reports fetched on December 17, the US House of Representatives have released a scathing 449-page report (earlier 64), accusing Google of its anti-competitive practices.
The list that hurts the most!
Zoom getting hacked
The year wasn’t without challenges for Zoom as well. The most popular video conferencing application was hacked on April 1, as informed by Cyble, a cybersecurity intelligence firm.
More than 500,000 zoom accounts got hacked and sold in the dark web, for less than a rupee in most cases.
Zoom responded with an upgrade in its security and privacy feature. However, it was still too late as most of its customers moved to Microsoft Teams and Google Meet.
Ban on Chinese apps
As a gesture of holding China responsible for COVID-19 and other political tensions, most countries of the world decided to ban Chinese apps. The trend started with India and was gradually adopted by the US and other countries.
TikTok, the top downloaded social media app of 2020 has been locked in a loop of acquisition and getting banned – none of which has taken place so far.
So, that was 2020. If you think we have missed any interesting event that might go under any of the three categories, let us know in the comments section.