A Perspective on Evolving Trends Favoring the IT and ITeS Sector
Date: Tuesday , October 20, 2015
The digital revolution has picked up tremendously, creating and defining a new ecosystem of connected businesses and connected customers. Technology now matters more than ever and your success depends on the speed with which you transform your business to be always-on, responsive, reliable and intelligent, thereby transforming customer experience to a whole new level. Evolving trends such as mobility, big data analytics, cloud computing and cyber security bolster the demand for skilled IT professionals and require organizations to broaden the scale and scope of their IT operations. Let me talk about key areas that will drive technology transformation and see a surge in demand for skilled IT professionals and domain specialists in the coming times. In the past few years, leading IT companies witnessed sensitive data being leaked and have always been vulnerable. Realizing sensitivities to manage critical data, Cyber Security professionals have increased in demand by a staggering 74 percent between 2007 and 2013. Cyber Security and associated roles have grown more than two times faster than other IT profiles. The industry sectors with greatest demand for Cyber Security professionals include - professional services, manufacturing and defence, finance and insurance, information and healthcare.
App Economy is another top employer with preference for mobile applications over the internet. The increasing penetration of smart phones users contributed to the growing demand for IT professionals with software development skills and experience. Mobile penetration and its usage is expected to grow across industries as most of the business tomorrow will be mobile ready. Another growth driver for IT employment is; increased adoption of Cloud-based Services. According to Burning Glass Technologies, a labor market data aggregator, there was a 25 percent (67,743 to 84,423) increase in U.S. job postings from 2012 to 2013 that listed cloud computing among their required skills.
ACS is investing heavily in technology and talent to deliver solutions and services that are enabled by these emerging technologies, thereby ensuring on-demand and future-ready solutions for our clients. We globally recruit talent to provide high-quality technology professionals to companies ranging from start-ups to Fortune 100 enterprises. From traditional software development to complex ERP implementations to unique digital transformation projects, we bring together the best minds from different domains and seamlessly integrate technology and strategy to deliver cutting-edge solutions that help our clients accomplish their business goals.
Healthcare is another key industry witnessing a demand-supply mismatch in terms of technology and processes required. Increased emphasis on preventive care, a robust demand for healthcare services from baby boomers and growing rates of chronic conditions such as diabetics and obesity have led to an unprecedented boom in the global healthcare industry, which is expected to create 3.2 million jobs in the U.S. alone by 2022. As the number of health-insured people across the globe increases considerably, providing care to this growing group of people requires sophisticated technology systems and trained professionals to monitor them.
We understand the important role IT plays in hospitals and how critical these systems are to their operations. ACS currently has master service agreements with over 500 hospitals in the U.S., providing solutions in healthcare IT, billing services and back-office support. This is the next big frontier where we are focusing a lot of effort in light of the regulatory changes brought on by the Affordable Care Act. Even with the changes coming to the healthcare industry, we are well positioned to serve our customers with the best services. Our industry knowledge and experience in placing technical staff with large healthcare providers and medical care facilities, makes us an ideal IT partner for the healthcare industry.
I am hopeful to see India reciprocating in a positive way to these emerging opportunities. In my personal opinion, I see the government taking steps in the right direction to ease business operations for foreign investors and building quality manpower for future growth. The vision of Digital India promises to be shot in the arm for the IT/ITeS sector. Over last few years, the IT sector has evolved rapidly and has changed the shape of Indian business landscape. It is not only India\'s biggest provider of jobs - employs an estimated 3.1 million people (2014 figures) but also indirectly creates employment opportunities for 10 million individuals from various other industries like construction, catering, security services, retail, and transport among others. According to a study by the National Skill Development Corporation (NSDC) the overall employment generation by the IT sector in India is expected to increase to 4.1 million in 2022 with competencies like cloud computing, CRM, ERP, big data and analytics being the hot profiles for the next few years. Although the general trend looks favorable for the global IT landscape, there are elements that need to be kept in mind as adoption of technology will in time give way to automation that may not need human intervention. The new focus is on niche areas such as artificial intelligence, sensor-based analytics, cloud, and people with skills in these domains are in high demand and will flourish in times to come.