Despite navigating global uncertainties, tech hiring in the county is cautiously optimistic, highlighting the resilience and growth potential within India’s IT sector, the Annual Digital Skills Report FY24 from business solutions provider Quess Corp has revealed.
“Looking ahead, we anticipate a rise in IT hiring fuelled 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,” Kapil Joshi, Deputy CEO of Quess IT Staffing, said in a statement. “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.
Manufacturing, Retail & Healthcare Show Promising Tech Hiring Trends
The year 2024 saw a distinct shift in tech talent demand across various industries, the survey found. Noteworthy trends emerged in industries like finance (BFSI 19%), automotive (15%), consulting (9%), and product development (6%).
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In manufacturing, 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..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.
Silicon South: Bengaluru, Chennai Spearhead India’s Tech Talent Surge
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India’s tech landscape is experiencing a boom, with the South Region emerging as the undisputed leader. 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.
This report is based on data from Quess IT Staffing’s operations, focusing on the quantum of demand in FY2024 in Quess IT Staffing.
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