The Cloud, Mobile, and Big Data are drastically restructuring the Tech Industry’s landscape. In addition to creating over one million new jobs through emerging technology companies over the next few years, they are expected to alter the fundamentals of the IT service industry. Because speed and efficiency play major roles in new technology, traditional time and labor constraints will be quickly reduced.
In order to fully understand this projected trend, it’s paramount to analyze the past along with the present. In late 1960’s, IBM’s mainframe was the major player in the industry. Typical project duration lasted two to three years. When client server architecture and the PC revolution happened during 1980’s, the market expanded exponentially but also fragmented, as a result. Software company giants, such as SAP, Oracle, Sun, and Microsoft, were born. As of today, they have created millions of jobs and dramatically improved the automation of business processes. Similarly, when the dot com boom occurred, tools began to appear to address specific issues in niche markets. Therefore, the trend of increasing growth comes from continuous fragmentation of the market, shorter project cycles, and an increase of niche skills.
There are three major shifts that are happening in the software development cycle. Companies are keen on completing work faster. To be competitive, companies aim for completions times that are at least one third compared to decade ago.
To achieve this, companies:
- Adapt IaaS (Infrastructure as a Service) to get the dev, test, prod environment ready quickly, PaaS (Platform as a Service), a highly customizable workflow for the specific industry or a business process, and SaaS (Software as a Service), a cross-platform, cloud-based, on-demand service.
- Implement global teams to access the talent pool to accelerate delivery. Over one thousand MNCs have already set up captive centers outside USA. This trend is now reflected by mid-size companies, as well.
- Continuously develop, deploy, and integrate project management and methodologies to adapt to the fast phase execution rates of global teams. As a result, the need for a contract and consulting workforce will continue to increase.
Cloud, mobile, and big data, along with social media, have created a level playing field. There may not be many new tech companies that will create hundred thousand tech jobs; however, there may be thousands of new tech companies that will create 10 to 20 jobs. Cloud service providers like Amazon, Azur, and Google paved the road for every startup to have state-of-the-art infrastructures similar to those of multi-billion dollar companies without major upfront costs. Mobile capabilities and social media create opportunities to directly reach consumers without needs for huge marketing and branding expenses.
According to the U.S. Department of Labor, the United States is expected to need approximately 1.4 million tech professionals by 2020. Unfortunately, only about 400,000 U.S. college students are expected to graduate with an IT-related degree. That one million plus gap in the need for IT professionals can be filled by the global tech workforce. This presents an enormous opportunity for IT services companies to fulfill these jobs.
Companies who build talent in niche skillsets in emerging technologies will create the most jobs. Our new initiative TechFetch academy has been launched to accelerate the creation of 1+ million new tech jobs by enabling the tech talent to acquire these niche skills quickly and affordably. Please explore TechFetch.com for your talent needs or tech job opportunities.
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