What Australia’s Tech Industry Looks Like in 2021
After a tumultuous 2020 which saw Australia’s economy tip into recession, 2021 has been a welcome relief. As recent figures show that the economy has now reached a level larger than it was before Covid-19 struck, we’ve investigated what this means for the tech industry and what the future might hold.
The Tech Market Right Now
The tech market is growing, and as the economic outlook has improved, so too has the hiring demand for tech professionals across the country. The overall demand for tech is very high, making it difficult for companies to access great talent.
The areas which have seen the greatest growth are Sydney, Melbourne and Brisbane, with skills such as Python, Jira and Data Analysis highly sought after.
Companies investing in their tech professionals, with a big increase in their talent pools over the last year, include Accenture Australia, Amazon Web Services, HP and Afterpay.
As the economy continues to rebound, this trend is set to continue. Although there are concerns about access to IT professionals – both contract and permanent – it is hoped that the recent uptake in remote working will help companies access talent from across the country, rather than a small geographical area.
The Future for Australia’s Tech Market
IT spending across all sectors is set to hit A$98B by the end of 2021, an increase of 4%. With this is likely to come a further increase in the demand for skilled workers. Of all the sectors, enterprise software is set to have the highest level of growth thanks to the boost in remote working, alongside cloud computing, core business applications and security.
Cybersecurity in particular is expected to see continued expansion over the next five years, due to services such as Software as a Service (SaaS) leaving businesses vulnerable to attacks because of increased internet reliance.
Technology is also expected to play a huge role in Australia’s agricultural output, with data analysis and artificial intelligence being used to provide the innovation needed to tackle the big challenges that the industry faces.
If you are looking for skilled tech professionals, or want to advance your career in the IT industry, please contact us today.