Changes are the only constant, and we all know this. Everything is transforming with the evolving trends of the world, and the landscape of Jobs is also changing. The World Economic Forum published a report on the Future of Jobs where they noted that around 50% of all employees will need to reskill by 2025. Moreover, the study highlighted that technological skills will be considered demanding skills in 2024 and will remain in trend for at least a decade. Some of these technological trends include:
Cloud Computing
Cloud computing is one of the high-demand skills essential for businesses, offering scalable, flexible, and cost-effective IT resources. According to a report by Nasscom and EY, the Indian cloud computing market may reach $20 billion by 2025. As it is growing at a CAGR of 23%. This growth is driven by different factors. It includes increasing digitalization, rising adoption of cloud-native technologies, and government initiatives to promote cloud adoption.
The demand for professionals in cloud computing is also on the rise. A study by NASSCOM found that there were over 300,000 job openings for cloud roles in India in 2021, and this number is expected to grow further in the coming years.
Artificial intelligence
AI has taken over the digital world and everything has become easy with the use of AI. From writing to creating websites that used to take heavy, time-consuming coding, AI has made it a few-click process. However, Artificial Intelligence is a boon and also a bane. On one hand, it is helping individuals and businesses with the power of scalability and efficiency. On the other, it is also ruining lives with misleading deepfake videos.
Artificial Intelligence (AI) is rapidly changing the job market. With its increasing applications across industries, it has become one of the most demanding skills in 2024. According to Gartner, the demand for AI workers tripled between 2015 and 2019.
Hiring platforms like Indeed have observed a surge in AI-related job postings. Skills like Machine Learning, Python, AI core, communication, Natural Language Processing, TensorFlow, and Data Science are highly sought after. Indian employers are optimistic about AI’s job creation potential. Over 85% believe it will generate new roles in the coming years.
The Indian AI market may reach $17 billion by 2027. It is blooming at a compound annual growth rate of 25-35%. This growth trajectory suggests the urgent need for employers to hire professionals.
Cybersecurity
Cybersecurity is an important concern for businesses as well as individuals, as cyber threats continue to come in different forms. And so is definitely a demanding skill in 2024 and years to come. A report by Cybersecurity Ventures predicts that cybercrime damages will reach $10 trillion by 2025, up from $3 trillion in 2015. Moreover, this highlights the urgent need for organizations to invest in strong cybersecurity measures.
The Indian cybersecurity market is estimated to reach $37 billion by 2025, rising at a CAGR of 23%. This growth is driven by factors such as increasing digitalization, rising adoption of cloud computing, and government initiatives to promote cybersecurity. Therefore, with cybersecurity skills, you can also get Government jobs. Cybersecurity is a demanding skill in 2024. A study by NASSCOM found over 200,000 job openings for cybersecurity roles in India in 2021, which is expected to grow further in the coming years.
Data Analytics
Data analytics enables businesses and individuals to make informed decisions and gain a competitive edge. It is a demanding skill in 2024 and the coming years. A report by McKinsey Global Institute estimates that data analytics could create an economic value of up to $5.5 trillion globally by 2025.
The Indian data analytics market is estimated to reach $16 billion by 2025, blooming at a CAGR of 20%. This growth is driven by factors such as increasing data generation, rising adoption of cloud computing, and government initiatives to promote data analytics.
This is a demanding skill in 2024 and years to come. A study by NASSCOM found that there were over 100,000 job openings for data analytics roles in India in 2021, and this number is expected to grow further in the coming years.
The Bottom Line:
As lifestyle, fashion, economy, and technology are taking newer forms, jobs are demanding reskilling. Some of the highly demanding skills in 2024 and for the coming decades are mostly from the tech sector. If you want to get high-paying jobs, or get promotions, you must start adding the above-mentioned skills. There are plenty of opportunities with these skills and they are sure to add some value to your skillsets.
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