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PR Newswire

Remote Work Trend Boosts Global Demand for Network Access Control Solutions

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The global NAC market is estimated to reach $2.21 billion by 2024, finds Frost & Sullivan

SANTA CLARA, California, April 28, 2020 /PRNewswire/ — Frost & Sullivan’s recent analysis, Global Network Access Control Market, Forecast to 2024, finds that the proliferation of the Internet of Things (IoT), the convergence of information technology (IT) and operation technology (OT), and customers’ migration to the cloud at a faster pace are rapidly driving the NAC market. The sector is estimated to increase by two-thirds, reaching $2.21 billion by 2024 from $1.35 billion in 2019, at a compound annual growth rate (CAGR) of 10.4%. With 60.2% market share, North America will continue to be the largest market for NAC until 2024; APAC is the fastest-growing region and its share of the global NAC market is estimated to increase from 9.9% in 2019 to 11.9% in 2024. The COVID-19 pandemic will cause a severe slowdown in 2020. Thereafter, the NAC market is expected to regain annual double-digit growth rates as organizations settle into a “new normal.”

Remote Work Trend Boosts Global Demand for Network Access Control Solutions
Remote Work Trend Boosts Global Demand for Network Access Control Solutions

For further information on this analysis, please visit: http://frost.ly/42z

“Security vendors are working closely with their customers in order to support them in this unprecedented transition to work from home (WFH). They are focused on ensuring their clients’ business continuity, and the pandemic has underlined the value of cloud services in delivering and deploying security solutions to remote devices,” said Tony Massimini, Senior Industry Analyst at Frost & Sullivan. “However, the cloud environment needs security as well. Having a remote workforce highlights the need to leverage NAC. Large cybersecurity vendors with broad product portfolios will want to add this solution as well.”

Vendors should continue to innovate cloud security, work closely with AWS, Azure, Google Cloud, and other tech vendors, and focus on virtual appliances and NAC as Software-as-a-Service (SaaS). Additionally, NAC is adapting to a more mobile environment as enterprises expand beyond the traditional secure walls.  

The complexity of 802.1X deployment (one of the best methods for authentication), surging diversity of IoT devices, and increasing NAC solution costs for large enterprises are likely to hinder the market. NAC vendors’ move to work beyond the traditional IT perimeter and innovation in other technologies will boost growth opportunities via:

  • Incorporating NAC into OT to improve security tools for better coordination and to leverage IoT technology.
  • Focusing on virtual appliances and SaaS for customers’ quick migration to public and private clouds.
  • Instrumentalizing the concept of zero trust networking (ZTN)—the never trust, always verify principle—so security vendors, including NAC, can promote their capabilities via integration of their product portfolios.
  • Capitalizing on use cases of IoT, BYOD, and mobility, which are increasing at a significant rate. Most IoT devices do not have the resources to handle an agent, so agentless technology is required.

Global Network Access Control Market, Forecast to 2024 is the latest addition to Frost & Sullivan’s Information and Communications Technology research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Global Network Access Control Market, Forecast to 2024

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Contact:
Mariana Fernandez
Corporate Communications
T: +1 (210) 348.1012
E: mariana.fernandez@frost.com

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PR Newswire

Pintec Selected as 2020 Asia Pacific “FinTech Fast 101” by IDC

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BEIJING, April 24, 2020 /PRNewswire/ — Pintec is included in the 2020 update of its FinTech Fast 101 research, released by IDC Financial Insights (IDC) in March 2020, which details a list of fast-growing FinTechs in Asia/Pacific excluding Japan (APEJ) from 11 key markets. The research refers to fast-growing fintech players from China, India, Indonesia, Singapore, Hong Kong, Thailand, Malaysia, the Philippines, Vietnam, South Korea, and Australia. The list outlines 41 the fastest growth fintech players in China market.

IDC applied its Triple U framework – ubiquity, utility, and usability – to determine this year’s FinTech 101 list. The framework evaluates fintech data across the key metrics including addressable market, customer adoption, investments, alliances and partnerships, innovation, chance of survival, and marketing. In this year’s FinTech 101 research, IDC defined fintech as new models for financial services offered through “nontraditional” vendors. It refers to the companies themselves as well as their products mostly focusing on start-ups delivering services built around the new models and technologies.

As a leading fintech solutions provider, Pintec is committed to providing intelligent technical solutions to business and financial partners, enabling them to provide financial services to end users efficiently and effectively. In recent years, Pintec’s state-of-the-art technical service solutions have served lots of financial and business institutions. Key partners include ICBC, aiBank, East West Bank, China Telecom, China Unicom, Ctrip, Qunar etc.  

In April 2020, Pintec established partnership with international technology giants Automation Anywhere and Blue Prism to help financial institutions drive digital transformation with Robotic Process Automation (RPA), an advanced tool to automate business processes. Going forward, Pintec will continue leverage its strong capabilities in technological innovation and rich experience in financial business to develop intelligent products to better serve the financial market worldwide.

About Pintec

Pintec is a leading fintech solutions provider. With its mission to “Power the Future of Finance”, Pintec aims to advance financial services by providing customized and modular fintech solutions to its financial and business partners, including point-of-sale financing solutions, personal installment loan solutions, business installment loan solutions, wealth management solutions and insurance solutions. The company operates a unique SaaS Plus service model. In addition to the industry-leading SaaS service platform, Pintec also offers a full suite of value-added solutions to its customers, including decision support, traffic enhancement, joint operations, and advisory services. Pintec has cooperated with a number of business and financial partners, including but not limited to Xiaomi, Qunar, Ctrip, China Telecom BestPay, Vip.com, Minsheng Securities, Orient Securities, Yunnan Trust, Guoyuan Securities, Bank of Nanjing, East West Bank, China National Investment & Guaranty Corporation, Fullerton Financial Holdings. On October 25, 2018, Pintec was officially listed on the Nasdaq Global Market with American depositary shares trading under the symbol “PT”.

For more information, please visit www.Pintec.com

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Huawei Releases White Paper at its “5G+, Better World” Online Summit

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SHENZHEN, China, April 23, 2020 /PRNewswire/ — Huawei held the “5G+, Better World” online summit. At the event, the President of Huawei’s Carrier BG Marketing and Solution Sales Dept, Peng Song called on the ICT industry to stay together and build a better world.

Peng Song delivering the opening speech.
Peng Song delivering the opening speech.

“2020 marks the beginning of the third decade of the 21st century”, said Peng. “This year, global digital transformation will accelerate, meaning both opportunities and challenges for telecom operators and industries. To address these opportunities and challenges, operators must aim for more resilient, automated, and intelligent target networks, and their annual network plans and activities should be geared towards achieving these goals.” Peng continued, “Huawei is launching its ‘5G+, Better World’ online platform to work with operators and partners worldwide, share valuable experiences, and build better target networks.”

At the event, Huawei released its white paper, Technology against Pandemic: Insights and Practice on Telecom Networks. This white paper provides deep insights into global networks and explains the important role telecom networks have played in the fight against the pandemic. Stable telecom networks have helped people move vital activities online, such as online education, online shopping, and remote working. This has been the basis of continued learning and production when school and work were suspended. The white paper also explains global operators’ best practices for overcoming the pandemic with networks. For example, they introduced 5G, AI, fiber 10G PON, and other advanced technologies that enable more applications to combat the pandemic more efficiently.

Several guests attended the event and delivered keynote speeches. These included Dr. Su Yu, Deputy Dean of China Mobile Chengdu Industrial Research Institute, Mr. Robert Wigger, Chief Business Officer of Sunrise, Mr. Su Xiaoming, Vice President of YITU Technology, Mr. Shaun Collins, Chief Executive Officer of CCS Insight, and Mr. Bob Cai, Chief Marketing Officer of Huawei’s Carrier BG.

About Huawei

Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. With integrated solutions across four key domains – telecom networks, IT, smart devices, and cloud services – we are committed to bringing digital to every person, home and organization for a fully connected, intelligent world.

Huawei’s end-to-end portfolio of products, solutions and services are both competitive and secure. Through open collaboration with ecosystem partners, we create lasting value for our customers, working to empower people, enrich home life, and inspire innovation in organizations of all shapes and sizes.

At Huawei, innovation focuses on customer needs. We invest heavily in basic research, concentrating on technological breakthroughs that drive the world forward. We have more than 194,000 employees, and we operate in more than 170 countries and regions. Founded in 1987, Huawei is a private company wholly owned by its employees. For more information, please visit Huawei online at www.huawei.com or follow us on:

http://www.linkedin.com/company/Huawei 
http://www.twitter.com/Huawei 
http://www.facebook.com/Huawei 
http://www.youtube.com/Huawei

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PR Newswire

Westwin Research Shows International Consumer Behavior Changes as a Result of Covid-19

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SHANGHAI, April 23, 2020 /PRNewswire/ — To better understand the effects of Covid-19 on consumer behavior, leading tech driven cross-border marketing company, Westwin, has conducted new and extensive research on global search traffic data and consumers from US, UK, Australia, Japan and Russia. Taking an international perspective, the observable changes can be categorized into three main areas: what people are buying, what people are doing during quarantine and where people are looking for information.

Hot Products – What are people buying?

The changes in consumer habits as a result of COVID-19 have been observed differently in different countries around the world. Aside from the obvious increase in purchases of face masks, hand sanitizer and other healthcare products, canned and long-life food products have also been purchased in bulk. For Western countries, essential foods such as soy-based products (increase 63%), rice (58%), chickpeas (47%), milk powder (126%), water (42%) and canned meats (58%) saw month-on-month increases.

Japan saw a similar focus on long-life foods with a 10 times increase in the sale of frozen foods and a 550% spike in sales of garlic, with black garlic – a key ingredient of immune boosting black garlic and honey drink, rising more than 20%.

These increases happened alongside a severe shortage of toilet paper in Australia, where local consumers buy bought in large quantities.

Stuck at Home – What are people doing?

With the temporary closure of non-essential businesses around the world, many people are adjusting to a life of reduced mobility. This new life entails more home cooking (kitchen utensils, gadgets and shelving sales increased by 700%, 321% and 210% respectively in China alone), exercising, enjoying digital entertainment and spending time with family and children.

For many, the desire for companionship has resulted in them choosing to own a pet, this has lead to a tenfold increase in the number of pets being adopted from animal shelters in New York and many shelters reporting an unprecedented lack of available pets.

According to Westwin global search traffic data, in addition to pet trainer equipment and other supplies, smart home supplies such as auto-cleaning robots, dish-washing machine are also being purchased, since consumers are spending more at home and are willing to invest in a more comfortable living environment. Meanwhile HDMI cables and projectors to turn living rooms into home theatres also saw a spike in sales.

Accessing Information – Where are people looking?

The final significant change is the way in which people search and the channels they use to access information. Leading the pack for official pandemic-related information is: official government websites, respected media outlets and Instagram.

Respondents in some regions also reported accessing the official WHO website or Apple News.

Social media has seen a spike of usage with short-video platform TikTok reporting a total of 5.5 billion views relating to “coronavirus” as of March 2020. This number is reflected in the dominance of short-video platforms in China, recording a 5.5% year-on-year increase and overtaking mobile games as the most consumed media during the Chinese New Year holiday.

As consumers adjust to life at home, the role and adoption of online shopping around the world is changing. These changes represent enormous opportunities for brands to open new markets. Particularly for online services such as office, online education and ecommerce applications.

About Westwin

Westwin, formerly known as Microsoft Online (MSN China), is a leading technology driven digital marketing company that focuses on cross-border business. It provides branding strategies and digital marketing solutions to help clients achieve success in China and around the world. Westwin is a certified marketing & advertising partner of Baidu, Tencent WeChat, Sina Weibo and more major digital platforms in China. With years of experience in cross-border business and partnership growth, Westwin is equipped with the knowledge and expertise to take businesses to the next level in overseas markets.

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PR Newswire

Icelandic Genomes Elucidate Neanderthal Heritage of Europeans

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Archaic genetic fragments comprising nearly half the Neanderthal genome are circulating in the European gene pool today

The average European carries more than 500 such archaic fragments, including SNPs linked to prostate cancer risk, iron retention, blood clotting speed, and height

REYKJAVIK, Iceland, April 23, 2020 /PRNewswire/ — Scientists at deCODE genetics and colleagues from the Max Planck Institute and universities in Denmark and Iceland today publish in Nature the first study to use whole-genome sequence data from across a population to shed light on the present-day legacy of interbreeding between modern and archaic humans more than 50,000 years ago. In general terms, the findings support previous estimates that most people outside of Africa have approximately 2% archaic ancestry, predominantly the result of repeated contact and interbreeding between groups of Homo sapiens and multiple Neanderthal individuals. The results also show more significant than expected genomic fragments from Denisovans, another archaic human species that interbred with both Neanderthal and Homo sapiens.

Yet the principal significance of this study lies in the unprecedented magnitude of data that was used to understand the nature and impact of this archaic legacy. In its first phase, the study utilizes whole genome sequence (WGS) data from 28,000 Icelanders, nearly ten percent of the entire population, and 286 sub-Saharan Africans in the 1000 Genomes project. A limiting factor in previous studies has been an overreliance on searching modern genomes for sequence fragments derived from just three archaic individuals for whom we have good quality sequence data: two Neanderthals and one Denisovan. The authors here turn this approach on its head, using the African sequences as a baseline for Homo sapiens with no introgression from Neanderthals, and against which they compared the Icelandic sequence data. The resulting chromosomal fragments found in Icelanders but not shared by Africans comprise a vast catalogue of 15 million putative archaic fragments.

After combining identical and overlapping fragments, the authors identified more than 50,000 distinct archaic fragments covering 38-48% of the readable genome. These contain nearly 400,000 single-letter sequence variants, that are absent from the African samples. Intriguingly, in the Icelandic samples the authors identify nearly 300 “archaic deserts” where there are no archaic fragments; these cover nearly 25% of the genome, including the entire X chromosome.

To better understand the phenotypic impact of the archaic variants, the deCODE team examined them for association with 271 phenotypes in whole-genome data on 210,000 Icelanders. After winnowing suggestive associations in order to eliminate those driven be nearby non-archaic variants, they identified five archaic variants with genome-wide significant associations. One has previously been linked to decreased levels of prostate specific antigen (PSA) and risk of prostate cancer, but was not known to be of archaic origin; two decrease levels and mass of hemoglobin; a fourth increases the time it takes for blood to clot; and the fifth decreases height.

“Whether individually or collectively, our genome enables us to learn more about who we are by telling us where we come from. This paper is a kind of ancestry report for one branch of our species, and it’s telling us that in this particular neighborhood we are not just Homo sapiens but also the descendants of ancient archaic humans – cousin species whose lineage is thus not entirely extinct,” said Kari Stefansson, CEO of deCODE and a senior author on the paper. “We are scratching the surface of what this hybrid legacy means. What we know is that in the 50,000 years from their time to this, our adaptability and diversity have enabled us to mix and move, settle and thrive in every corner of the planet as they did not. In these dark days we would do well to remember that our differences are literally the mark of our success, and so to help each other as best we can.”

Based in Reykjavik, Iceland, deCODE is a global leader in analyzing and understanding the human genome. Using its unique expertise in human genetics combined with growing expertise in transcriptomics and population proteomics and vast amount of phenotypic data, deCODE has discovered risk factors for dozens of common diseases and provided key insights into their pathogenesis. The purpose of understanding the genetics of disease is to use that information to create new means of diagnosing, treating and preventing disease. deCODE is a wholly-owned subsidiary of Amgen (NASDAQ:AMGN).

Contact:
Thora Kristin Asgeirsdottir
+354-894-1909
Thora.Asgeirsdottir@decode.is

The Neanderthal In All Of Us - Dr. Kari Stefansson and Dr. Agnar Helgason
The Neanderthal In All Of Us – Dr. Kari Stefansson and Dr. Agnar Helgason
PR Newswire

COVID-19 Pandemic Impact: 80% Surge in Wi-Fi Upload Traffic Reaffirms Need for Wi-Fi 6, Wi-Fi 6E, and Wi-Fi Mesh Adoption

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ABI Research whitepaper identifies the short-and long-term impacts the global pandemic will have on Wi-Fi, Bluetooth, and Wireless Connectivity

OYSTER BAY, New York, April 22, 2020 /PRNewswire/ — COVID-19 has had an immediate impact on Wi-Fi infrastructure, proving existing infrastructure is inadequate. Wireless networks are now facing a higher capacity with more traffic and users are finding their existing home Wi-Fi network, and the wider broadband infrastructure, is inadequate or incapable of supporting the recent 80% increase in upload traffic, states global tech market advisory firm, ABI Research.

“The outbreak of COVID-19 is creating a need for flexibility that will fuel the future of connectivity,” says Andrew Zignani, Principal Analyst at ABI Research. Many users are still likely to be using outdated Wi-Fi equipment with legacy Wi-Fi standards, such as 802.11n, rather than the latest Wi-Fi 6, which has specifically been designed to deal with better provision in more crowded networks. “There will be renewed incentive for mesh Wi-Fi that can provide sufficient high-speed coverage to multiple users throughout the home,” Zignani explains. At the same time, companies will need to ensure they have the right infrastructure in place so large numbers of employees can concurrently connect to company Virtual Private Networks (VPNs). Many companies may not have VPNs at all, while capacity limitations could put companies at further risk of security breaches or slow down productivity further.

“The hope, of course, is that the impact of COVID-19 will be very short lived, and that people will be able to return to work, school, and normality as swiftly as possible. In the longer term, today’s necessities could lead to an increased desire and testbed for flexible and remote working and learning in the future, while companies may shift marketing and business resources away from conference-centric approaches toward new online and virtual marketing tools, particularly as additional concerns grow over the impact of climate change via international travel,” says Zignani.

“In the longer term, it could lead to a reassessment of how many modern workplaces and working relationships are structured, reducing the impact of long commutes and travel, enabling more flexible working and remote collaboration. In order to achieve this, additional resources will need to be devoted to VPNs, secure home networking, and remote working/conferencing software,” Zignani recommends. “Alongside this, further investment will need to be made to ensure home broadband infrastructure can support high-speed Wi-Fi Internet access.” Education will need to be provided on how to optimize and get the best out of home Wi-Fi networks. Employees will need to be equipped with equipment that can support robust, efficient, and low latency Wi-Fi standards, while various organizations around the globe will need to open up additional spectrum, such as 6 Gigahertz (GHz) to ensure the capacity of Wi-Fi networks can meet a global increase in demand for video, collaborative tools, and other data-heavy traffic going forward.

However, all these longer-term transformations require a deep understanding of the need for high-speed, highly secure wireless infrastructure to and within the home. “This could lead to greater incentives being placed on rolling out high-speed fiber or last-mile networks, better awareness of the need for robust whole-home connectivity via mesh systems, and the adoption of 6 GHz Wi-Fi and the latest Wi-Fi standards. In addition, it could lead to greater home Wi-Fi security, improved cybersecurity education, and a better understanding of the need for additional Wi-Fi capacity in the years to come,” Zignani concludes.

For a clearer picture of the current and future ramifications of COVID-19 across technologies and industries, download the whitepaper Taking Stock of COVID-19: The Short- and Long-Term Ramifications on Technology and End Markets.

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors.

ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact Info: 

Global                                                             
 Deborah Petrara                                                           
Tel: +1.516.624.2558                                                    
pr@abiresearch.com

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COVID-19 Pandemic Impact: Freight Activity Falls After Historic Rise with Disruption Ahead – Double Digit Impact Expected in Q2

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ABI Research whitepaper identifies the short-and long-term impacts the global pandemic will have on Freight Transportation and Logistics

OYSTER BAY, New York, April 21, 2020 /PRNewswire/ — It is no surprise that the COVID-19 outbreak has led to panic buying of items such as toilet paper and sanitizing supplies. However, this buying behavior has led to a massive need for trucks to help restock stores, shrinking the capacity available for other products. The result is a historically tight trucking market that has dropped 20% in volume in just the last two weeks, states global tech market advisory firm, ABI Research.

“Rising costs, shrinking capacity, and panicked customers are shaking up the freight transportation and logistics markets,” says Susan Beardslee, Principal Analyst at ABI Research. The American Association of Port Authorities sees 1Q volume decreased by at least 20%, including blank sailings, which may cost carriers US$1.9 billion. Rail freight is also impacted with intermodal down by approximately 50%, including from California’s Long Beach and Los Angeles ports (the leading container ports in the United States and the busiest in the Western Hemisphere). Global air cargo volumes for the last month are expected to be down 9%. New restrictions on passenger travel from much of Europe to the United States will further affect air cargo capacity. DHL alone is reporting an impact of US $79 million to February earnings. All of this adds to the already existent decreases due to the China-U.S. tariff tensions.

“In the short term, there has been more than a six-week delay in shipments for cargo sourced from China. Other markets from Vietnam to Mexico often rely on Chinese components and raw materials, creating a knock-on effect to the supply chain, including transportation and logistics. The initial loss of road transport demand has begun in the ports and is moving to the warehouses and inland routes. Cargo capacity demand in China is beginning to demonstrate some initial signs of growth, with airfreight between China and the United States growing 27% over the last 14 days, creating a demand/supply imbalance,” Beardslee explains. This capacity challenge will move to containers (stranded outside of China) and trucks. However, as the virus has continued to spread outside of China, government actions have included restrictions on travel from 26 European countries to the United States. “Belly cargo” (air cargo) is transported via passenger flights, estimated to be 50% of all air cargo. When this capacity is drastically removed between Europe and the United States, availability will be significantly impacted and spikes in pricing are expected.

“In the longer term, there is little visibility to forecast, which will have a material impact on transportation and logistics this year. The virus is now impacting the global supply chain, with a current estimate of 113 countries identified as reporting cases. Transportation requirements will be hard to predict. Both capacity and pricing swings are anticipated across transportation modes, with the associated impact to shippers worldwide,” says Beardslee.

Shippers need to evaluate options and model changes across modes of transportation, considering interruptions, delays, and significant price increases. Both manufacturers and retailers need to develop prioritization plans for customers, potentially with set limits per customer. Systems integration whenever possible (ERP, Transportation Management System (TMS), Warehouse Management System (WMS)), along with predictive analytics/scenario modeling, is ideal. “Finally, keep in mind that as some countries begin to scale up production and transportation, others may move into containment strategies to address an outbreak. This will require near-real-time visibility across modes and the flexibility to adjust everything from inventory quantities and locations to substitution whenever possible,” Beardslee advises.

For a clearer picture of the current and future ramifications of COVID-19 across technologies and industries, download the whitepaper Taking Stock of COVID-19: The Short- and Long-Term Ramifications on Technology and End Markets.

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors. 

ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact Info:                                                              

Global                                                             
 Deborah Petrara                                                           
Tel: +1.516.624.2558                                                    
pr@abiresearch.com      

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CPA Australia: A stronger focus on customers and technology essential for small business recovery

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SINGAPORE, April 21, 2020 /PRNewswire/ — With COVID-19 reshaping the way people live, work and consume, small enterprises in Singapore could boost their business recovery prospects by building technology capabilities to better reach their customers, according to a new survey of Asia-Pacific small businesses by global professional accounting body CPA Australia.

Small businesses will also do well to invest in good staff who can help to improve customer loyalty and satisfaction as companies rebuild their operations when the current circuit breaker measures in Singapore are lifted.

CPA Australia’s Asia-Pacific Small Business Survey 2019-20 found that there is much opportunity for Singapore’s small businesses to improve their online sales presence.

Safe distancing measures implemented to battle COVID-19 have shifted consumer behaviour towards buying goods and services online, and this trend is likely to become even more entrenched going forward.

Only 35.7 per cent of the Singapore businesses surveyed said they generated more than 10 per cent of their revenue from online sales compared with the survey average of 51.0 per cent. The survey also showed a slightly declining trend over the last three years for Singapore small businesses booking revenue through online sales.

“With the current COVID-19 crisis, small businesses have little margin for error. Prudent financial management, focusing on the changing needs of customers and even greater adoption of technology, rather than good fortune, will be essential to business recovery and ongoing future success,” said Paul Drum, CPA Australia’s General Manager of External Affairs.

“The Singapore government’s excellent E-Commerce Booster package for small retailers and changing consumer behaviours accelerated by the circuit breaker should lead to a seismic increase in the online presence of many small businesses, which will not only assist them to survive this challenging period but also to thrive in the post-pandemic environment,” said Mr Drum.

Looking over 2019, the survey found that only 50.2 per cent of small businesses in Singapore reported growth last year amid slowing economic growth from tensions brought about by the US-China trade situation. This compares with 58.7 per cent in 2018, and below the survey average of 65.8 per cent.

However, most small businesses typically entered the COVID-19 crisis in relatively sound financial health, with only a small proportion (15.7 per cent) reporting problems paying their debts in 2019.

According to the survey, the top four factors that had a positive influence on strongly growing small businesses in 2019 were:

  • Improved customer satisfaction
  • Customer loyalty
  • Good staff
  • Improved business strategy

The survey, now in its 11th year, has shown that year after year, through both good times and bad, businesses with a focus on their customer, technology and strategy are much more likely to grow strongly compared to other businesses.

Mr Chng Lay Chew, CPA Australia’s Divisional President for Singapore, said, “Small businesses face the challenge of adapting their businesses to ‘a new normal’ at a time when their finances are tight. While it is wise to focus on cash flow and financial health at this time, businesses should also look at how they can meet the evolving needs of customers, especially through increasing their digital presence, and online engagement and sales.”

“Though the COVID-19 outbreak has taken centre stage for much of 2020 so far, businesses still need to consider other potential disruptors to the economy, such as an anticipated global recession, as they map out their recovery plan,” said Mr Chng.

To help small businesses navigate the challenges of COVID-19, and support them through the recovery process, CPA Australia has released a set of checklists targeted at small enterprises.

CPA Australia’s Suggestions for Small Businesses

  • Focus on improving cash flow and your financial health
  • Utilise technology and online sales to meet changing consumer behaviour
  • Capitalise on the existing pool of loyal customers
  • Investigate the generous SME relief measures made available by the government
  • Dedicate any spare time to developing and implementing a recovery plan, and learning about industry trends and emerging technologies and how they can be applied to the business
  • Ask staff with any downtime to undertake training so they are better skilled to meet the recovery needs of the business
  • If companies are in a relatively strong financial position, keep an open eye to any opportunities that may emerge in the recovery
  • Seek professional advice.

Key statistics for Singapore from the Small Business Survey

https://www.cpaaustralia.com.au/-/media/corporate/allfiles/document/professional-resources/business-management/small-business-survey/small-business-survey-singapore-2019-20.pdf?la=en&rev=135dfc02595149578c5dbeb4e4f21e66

CPA Australia resources to assist Singapore small businesses to manage through COVID-19

About the CPA Australia Asia-Pacific Small Business Survey

The CPA Australia Asia-Pacific Small Business Survey provides annual insights into the views of small businesses across the region and forms part of a longitudinal study that began in 2009. The 11th CPA Australia annual survey comprised extensive surveying of 4,193 small business operators in eleven markets, including Singapore, Malaysia, Australia, Hong Kong, India, Indonesia, Mainland China, New Zealand, Philippines, Taiwan and Vietnam. The survey was conducted between 18 November and 12 December 2019.

About CPA Australia

CPA Australia is one of the world’s largest accounting bodies with more than 166,000 members working in 100 countries and regions around the world, and with more than 25,000 members working in senior leadership positions. It has established a strong membership base of more than 8300 in Singapore.

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COVID-19 Pandemic Impact: Workforce Shortages and Uncertainty will Cause 5G Network Infrastructure Revenue to Drop As Much As 10% in 2020

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ABI Research whitepaper identifies the short-and long-term impacts the global pandemic will have on 5G and Mobile Network Infrastructure

OYSTER BAY, New York, April 16, 2020 /PRNewswire/ — The outbreak of COVID-19 has created a crippling effect, not only on service industries, but also on manufacturing enterprises, including 5G infrastructure vendors. Despite the current ongoing discussion on OpenRAN and open networks, most advanced 5G networks still rely on Tier One infrastructure vendors and their supply chain has been disrupted. The shortages of component manufacturing and/or network workforce deployment, such as integration engineers, are the main reasons of this disruption. These disruptions  will cause 2020 5G network infrastructure revenue to fall as much as 10% of the forecasted US$2.1 billion, states global tech market advisory firm, ABI Research.

“The current virus outbreak will likely delay the deployment of advanced 5G NR systems, including Massive Multiple Input, Multiple Output (MIMO) and active antennas that several operators have already started deploying,” explains Jiancao Hou, Senior Analyst at ABI Research. This may mean that operators that have already deployed a significant number of base stations will be in a better position to become early adopters and benefit from an earlier transition from previous generations to 5G, but this will rely on the availability of relevant handsets. In the short term, 5G radio deployments will be delayed further due to geopolitical constraints and COVID-19.

“In the longer term, while 5G’s momentum will be slowed, new use cases will emerge,” says Hou.  It is important for mobile operators to broaden their supply chain and avoid a single-vendor infrastructure market. Apart from that, the effects of the virus outbreak will likely accelerate more innovative use cases and services. “For example, considering a 5G Ultra-Reliable Low-Latency Communications (URLLC) scenario, if surgery and health monitoring can be done remotely, the doctor will not need to physically meet the patient infected with the virus.”

A great lesson has been provided by the virus breakout to both network operators and related authorities. “The former should be able to manage the risk of relying on a few vendors dominating the infrastructure market. The latter should embrace new technologies and understand how these can be used in turbulent times to improve business and society,” Hou recommends.

For a clearer picture of the current and future ramifications of COVID-19 across technologies and verticals, including 5G and Mobile Network Infrastructure, download the whitepaper Taking Stock of COVID-19: The Short- and Long-Term Ramifications on Technology and End Markets.

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors. 

ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

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 Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com  

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