Quess Corp has launched the “Annual Digital Skills Report FY24’, offering insights into the technology skills shaping the future of work in India. Despite navigating global uncertainties, the report paints a cautiously optimistic picture, highlighting the resilience and growth potential within the country's IT sector. While established functional skills like Development, ERP, Testing, Design & Engineering and Networking remain in high demand, niche areas like cloud, cybersecurity, and analytics are experiencing a significant surge, indicating a dynamic and evolving IT landscape.
Commenting on the tech hiring landscape, Kapil Joshi, Deputy CEO of Quess IT Staffing, said “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, India's 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.”
Leading Skill Suites in Demand
According to Quess, 66% of the aggregate demand emerged from the top 5 skill suites, namely Development, ERP, Testing, Design & Engineering and Networking. In addition to these functional skill suites, there was a green shoot in talent demand for skills related to cloud (16%), cybersecurity (215%), and analytics (256%) between H1FY24 and H2FY24.
Cloud
The scalability and cost-efficiency benefits of cloud computing are driving rapid adoption, creating a need for cloud architects, engineers, and security specialists to design, manage, and optimize cloud infra and apps.
Cybersecurity
As businesses are increasingly migrating their operations and data to the cloud, robust cybersecurity measures have become critical, necessitating skilled talent that can identify vulnerabilities, implement security protocols, and manage incident response strategies. This heightened focus on cybersecurity is further amplified by the recent tabling of the Cyber Security Bill, which aims to address the growing complexities in the digital space and for furthering the incentives of the development of skilled professionals in this field.
Data Analytics
Organizations are increasingly leveraging data analytics to gain deeper insights, fuelling demand for data analysts, data scientists, and business intelligence specialists.
Manufacturing, Retail & Healthcare Show Promising Tech Hiring Trends
The year 2024 saw a distinct shift in tech talent demand across various industries. Noteworthy trends emerged in industries like finance (BFSI 19%), automotive (15%), consulting (9%), and product development (6%).
Manufacturing: This sector witnessed a fascinating evolution. While traditional powerhouses like automotive and aerospace continued to lead, there was a significant expansion into emerging areas like semiconductors, electronics, and electrical industries. This diversification highlights the industry's embrace of technological advancements and its focus on innovation in product development and supply chain management.
Retail: Technology integration has become a cornerstone for growth and customer experience in the retail sector. With the rise of e-commerce platforms and omnichannel retailing, the demand for tech talent skilled in data analytics, AI, and digital marketing has skyrocketed. They are leveraging technology to optimize operations, personalize customer interactions, and gain consumer insights to stay competitive in this dynamic landscape.
Healthcare & Life Sciences: The industry is undergoing a digital revolution driven by factors like electronic health records, telemedicine, and personalized medicine. The need for tech talent is fueled by the desire to enhance patient care, improve clinical outcomes, and streamline administrative processes. As healthcare organizations are embracing digital solutions, the demand for skilled professionals in areas like healthcare informatics, data analytics, and cybersecurity continues to rise.
Silicon South: Bengaluru, Chennai Spearhead India's Tech Talent Surge
India's tech landscape is experiencing a boom, with the South Region emerging as the undisputed leader. 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.
