ABSTRACT
This study aims to investigate the economic impact of the COVID-19 on service sector companies. During this international pandemic, the economic losses are so destructive that world economies are eyeing future recessions. Poverty and unemployment and are always low, and the assist of IT is needed to eliminate the harmful results. This paper also identified the industries which have been strongly impacted at the pandemic time and are in need of comprehensive reform. Just some few industries are showing less losses or operating well during that pandemic. The research aims to show the effect of COVID-19 on different industries while identifying the most affected industry. This study also explains the role of Innovation, Digitalization, and IT during COVID-19 and how they can assist humans and businesses deal with exacerbating situations all-over the world. © 2021 ACM.