The Current State of the Tech Industry

For quite some time, the tech industry has been one of the healthiest. In fact, it’s often named one of the fastest-growing industries of the year. However, it’s only natural for that growth to slow down to some degree over time.

The good news is, the tech industry is still in a great place. As things come full circle and some of the previously avoided trade work is now in higher demand, tech is still one of the fastest-growing industries. Here’s what you should know about the tech industry in 2018 and beyond.

Growth

In an article written in 2017, Forbes reported that the global tech market was predicted to grow by 4% in 2018. However, there do seem to be some doubts about whether or not this growth will continue in 2019. Despite this, the tech industry is worth nearly $3 trillion, so even a small amount of growth makes a major impact.

It’s important to remember that this pertains to growth in the global tech industry as a whole. While tech might not always be one of the fastest-growing industries, you can practically guarantee that one of its subcategories is on the list.

Specialization Is Key

As we previously mentioned, succeeding in the tech industry and seeing a lot of growth also means finding the right way to take advantage of advancements in technology. If you’re working as a software developer with no real specialization, you might have a difficult time finding good work. However, if you’re willing to specialize in one of the areas of technology that are growing fast in 2018, you’ll see much better results.

Cloud technology is one of the best fields in the modern tech industry. Essentially every one of the most attractive companies in tech use cloud technology to some degree. In the case of Amazon’s Amazon Web Services (AWS), providing cloud-based technology is the entire business plan.

Information security is also a fast-growing field due to the amount of information on the

Talent Is in Demand

Specializing in a fast-growing field is obviously a great way to make sure you succeed in the tech industry, but it’s far from the only way. The important thing to remember when it comes to tech is that it’s a fast-growing, high-demand industry for a reason: it’s difficult. Not only is it hard to find somebody who knows the ins and outs of a programming language and how to apply it to make software, but it’s also difficult to find somebody who has the perseverance to succeed in the competitive tech industry.

According to a list by US News, software developers remain a top tech job despite the changing market. As long as you’re willing to learn and put a lot of time into gaining experience and working your way up, you can make a great living as a software developer.

All in all, the tech industry is poised for a good 2019. Even if there isn’t a significant amount of growth in terms of percentage points, constant innovations in technology means there’s always some new, unpredictable way to use tech skills.

 


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