In 2018, IT professionals became the most sought after workers. The demand has increased by almost a third, at 28%. This trend reflects the increasing demand for cybersecurity measures- the spend on which is forecast to increase by $10bn this year alone. More generally, business and tech are becoming more integrated than ever, and so more IT professionals are needed to facilitate it. Digital natives are also entering the workforce, which also has an impact. In this article, we’ll take a look at some of the primary reasons behind the 28% increase.
Moore’s law.
Technological developments have gone above and beyond what many expected in such a short amount of time. As a society, our lives are integrated with technology. Moore’s law predicts that computing chips will shrink by half in size and cost every 18 to 24 months, multiplying our technological progress year on year. Since the prediction was first made in 1965, it has been incredibly accurate.
Pricing structure.
The accuracy of Moore’s law up to this point has meant that more people have been able to afford more powerful technology as time has gone on. Take mobile phones as an example. They’re widely accessible globally, and it’s predicted that over 5 billion people have mobile devices, and over 50% of them are smartphones. It’s even got to the point where supply is exceeding demand. This is partly because many individuals with smartphones don’t see the need to pay premium prices to update their already technologically advanced phones. The decrease in demand resulted in a 6% reduction in global smartphone shipments in Q3 of 2018.
As technology gets cheaper, with more capabilities, it is inevitable that businesses will also invest.
Technology underpinning every business.
More affordable tech has resulted in the increasing levels of integrated tech within business, growing the demand for more talent that can help run, maintain and innovate that technology. By the end of this year (2019) alone, the IT industry is forecast to grow at a rate of 4%, reflecting businesses reliance on IT. Without it, many businesses would simply not have the capability to function on a day-to-day basis.
High calibre professionals impacting a whole sector
Finally, there’s an increased demand for IT professionals in more traditional industries, such as the legal sector. About 80% of legal work is ‘standardised’, so it can be automated. So the more high calibre IT professionals that are hired, the quicker mundane aspects of the work can be automated. This frees up more time for legal professionals to focus on other aspects of their work that generate more income and grow the business.
Conclusion
Overall, as workplaces become more tech-dependent, there will be a continual demand for IT professionals who can make processes more seamless. If you want to know what to look for in candidates who can do this, click our article here. The increasing affordability of advanced technology and the evolution of previously archaic industries should also only see this trend continue for the foreseeable future.
At GK recruitment, we have over 20 years of IT recruitment experience. If you need help in recruiting a new IT employee, we can help you find your perfect match. Contact us on 01257 429 499 or email us at info@gkrecruitment.com.
