 "Tech talent highly sought: 66% demand for these top 5 skill suites alone")
The tech job market in India is booming, with a surge in demand for specific skill sets. Over two-thirds (66%) of all tech jobs require expertise in just five core areas: Development (35%), ERP (12%), Testing (7%), Design & Engineering (7%), and Networking (5%), according to the ‘Annual Digital Skills Report FY24’ by Quess Corp.
However, the report also identifies a growing need for professionals with skills in emerging technologies. Cloud computing (up 16% since H1FY24), cybersecurity (up 215%), and data analytics (up 256%) are experiencing significant demand.
The rise of cloud computing is driven by its scalability and cost-efficiency, leading to a surge in jobs for cloud architects, engineers, and security specialists who can manage and optimize cloud infrastructure and applications.
Cybersecurity is another hot area, with businesses migrating operations and data to the cloud. This necessitates robust cybersecurity measures, requiring skilled talent to identify vulnerabilities, implement security protocols, and manage incident response plans. The recent Cyber Security Bill further emphasizes the need for cybersecurity professionals by addressing the evolving digital landscape and encouraging the development of skilled professionals in this field.
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Finally, data analytics is experiencing explosive growth as organizations leverage data to gain insights. This fuels demand for data analysts, data scientists, and business intelligence specialists.
"“Looking ahead, we anticipate a rise in IT hiring fueled by the expansion of Global Capability Centers and the stabilization of the global economy. Key technological advancements like big data and AI will likely drive this growth. While challenges remain, IT industry is well-positioned to navigate these shifts and emerge stronger than ever, thanks to the combined strengths of its people, innovation, and strategic vision," said Kapil Joshi, Deputy CEO of Quess IT Staffing.
Beyond core tech skills, the report also highlights promising trends in tech hiring across various industries. Finance (BFSI 19%), automotive (15%), consulting (9%), and product development (6%) are all showing significant growth in tech talent needs.
Manufacturing offers a fascinating example. While traditional sectors like automotive and aerospace remain strong, there's a clear expansion into areas like semiconductors, electronics, and electrical industries. This diversification reflects the industry's embrace of technology and focus on innovation in product development and supply chain management.
The retail sector is another area undergoing a tech transformation. With the rise of e-commerce and omnichannel retailing, the demand for tech talent skilled in data analytics, AI, and digital marketing has skyrocketed. These professionals leverage technology to optimize operations, personalize customer interactions, and gain consumer insights, ensuring competitiveness in this dynamic landscape.
Silicon South: Bengaluru, Chennai Spearhead India's tech talent search
A staggering 68% of hiring requests flow through this region, followed by the West (16%), North (8%), and East (2%). This dominance is mirrored in the commercial real estate market, where Bengaluru, NCR, and Hyderabad reign supreme, collectively capturing 65% of office space leasing activity.
"This trend suggests a potential back-to-office phenomenon, with tech companies driving space absorption at 26%. However, the growth story extends beyond established hubs. Tier-2 and Tier-3 cities like Ahmedabad, Chandigarh, Indore, and Jaipur are gaining traction due to their growth potential, signaling a more geographically diverse and inclusive tech landscape with exciting opportunities across the nation," noted the report.
"This trend suggests a potential back-to-office phenomenon, with tech companies driving space absorption at 26%. However, the growth story extends beyond established hubs. Tier-2 and Tier-3 cities like Ahmedabad, Chandigarh, Indore, and Jaipur are gaining traction due to their growth potential, signaling a more geographically diverse and inclusive tech landscape with exciting opportunities across the nation," noted the report.