The quarterly Technology Spending Intentions Survey (TSIS), conducted by Electronic Transactions Research (ETR), involved input from over 1,200 executives and decision-makers in IT, 77 percent of which were from the US. The survey was designed to gather expert opinions and insight on technology spending intentions.
Findings from the TSIS research indicated a projected 5.5 percent increase in IT investment by the year 2022.
Is there a high demand for IT professionals in the job market?
There is a significant need for highly skilled IT specialists in the employment market. The Technology Skills and Innovation Survey (TSIS) has found that the demand for IT personnel is increasing at an unprecedented rate. This claim is supported by data in the Employment and Training Reports (ETR) TSIS report, which aligns with statistics gathered by the United States Bureau of Labor Statistics.
As of December 2021, there are reportedly 3.85 million IT job openings in the US, according to CompTIA. This marks a notable increase from around 3.7 million such positions available during the same period in 2020, indicating that there are now roughly 115,000 more job opportunities available for software developers and IT professionals in the field.
Statistics on remote IT jobs
Recent findings from the TSIS survey reveal a growing trend towards remote work in the IT sector, with 42% of IT professionals working remotely full-time and 31% alternating between remote and on-site work. Meanwhile, 27% have returned to working full-time from the office.
The Technology and Science Industry Society (TSIS) has projected a 13% rise in the US IT sector between 2020 and 2030, resulting in the creation of over 667,600 IT job opportunities. The majority of these new positions are predicted to be remote, as more organisations are now better prepared to adopt the work-from-home (WFH) approach, as per the findings of the report.
Insights from Comprehensive Surveys
As per the US Bureau of Labor Statistics’ Business Response Survey, over half (52.2%) of Information Technology professionals reported working remotely full-time, while 15.8% were found to work in a hybrid model of both remote and in-person operations. Overall, the survey indicates that 68% of IT industry professionals in the United States are working remotely.
As noted on Statista.com, the information technology sector is expected to support the employment of more than 1.14 million individuals this year. The rise of cloud computing services, big data storage and analysis solutions, and information security technologies have played a major role in driving the demand for skilled IT professionals in the field.
Recently, Janco Associates conducted research that revealed predictions of the IT sector adding 213,000 jobs to the US economy in 2021, surpassing the current employment rate. Remarkably, approximately 17,000 new jobs were created in April 2022 alone. Moreover, preliminary data for the previous three months indicates that the IT sector has generated over 43,200 fresh employment opportunities.
Adapting to the Changing IT Job Market: Tips for Hiring Remote Developers
As a result of the ongoing global pandemic, the IT industry has experienced a substantial 58.9% surge in remote work opportunities, which now accounts for more than 2% of the American workforce, as per recent findings. Accordingly, there is a growing need for upgrading network infrastructure and enhancing cybersecurity measures to cater to the rising number of remote IT professionals in the field.
With the rising demand for IT professionals, sourcing highly-qualified software engineers has become increasingly challenging for Chief Information Officers, Chief Technology Officers, and human resources teams.
Recruiting managers must decide whether to onboard IT specialists in-house or via outsourcing.