tech job market statistics

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Looking for a tech job? It’s a great time. The tech industry is undoubtedly growing, but there are some specific directions that it’s taking. If you’re interested in getting a position within the tech field, these are the stats that you want to follow.

tech job market statistics

Software development is one of the occupations with the highest job growth, at 30.7%.

With a median annual salary of over $100,000, software developers are seeing additional jobs open up and tremendous job growth. This occupational growth is extrapolated from 2016 through 2026, implying that jobs in this field are going to continue growing for some time.

62% of millennials in the tech industry expect to get raises from their current employer.

31% expect to be getting promotions while 52% are either considering looking for another job or will be taking a new job in 2018. Today’s tech workforce is highly mobile and motivated, with those of younger generations making more over time than their predecessors, adjusted for experience. The most important areas of expertise in 2018 are cybersecurity, networking, infrastructure hardware, end-user devices, and storage and backup.

44% of businesses expect their IT budgets to increase, while 43% do not expect a change.

Very few companies are going to be decreasing their budgets for IT — and that’s important. Companies are now investing in technology proactively, with the knowledge that their technology will eventually lead to improved revenue and streamlined operations.

In addition to that, revenue is increasing, which is good news for all areas of business. Companies that perform well are companies that will naturally invest more in their technology (and their tech staff). About 31% of the asset investment is expected to go to hardware, 26% to software, 21% to hosted and cloud-based services, and 15% to managed services. This shows an increased reliance upon the cloud and managed service, a sector IT professionals may want to focus on.

AI, big data, and data analytics continue to rise in importance with 70% of enterprises expected to implement AI.

It wasn’t so long ago when “artificial intelligence” was synonymous with fiction, but now 70% of enterprises expect to implement AI within the next twelve months. With AI comes new opportunities, but also new challenges. IT professionals will need to know about these new technologies.

In 2018, leading fields are going to be in data analysis, cybersecurity, and regulatory compliance. Organizations spread across all industries throughout the globe are now relying upon tech professionals for expertise in these fields. For more information about the trends that are shaping tech today, continue to follow the experts at 2Roads.


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