2024 kicked off with a booming wave of AI/ML advancements. The market saw an explosion of AI-enabled products and services, driving immense demand for professionals in this field. But was AI/ML the only tech skill that dominated 2024? Not quite.
While the world of technology is evolving faster than ever, reshaping industries, creating opportunities, and driving economies, the demand for a varied range of tech skills is skyrocketing, bridging the gap between innovative solutions and market needs. Whether it’s harnessing the power of artificial intelligence or mastering cloud computing, these skills are transforming businesses and creating ripples across the global and Indian economies.
This week, “The People Weekly” will explore the growing demand for tech skills in 2024—highlighting key trends, in-demand roles, and the evolving tech landscape. As a leader in talent solutions, PeopleLogic one of the top recruitment firms in India, remains dedicated to helping businesses secure top tech talent, empowering innovation, and driving growth in the digital economy.
IT Market growth: A quick glance
Global
The global tech industry is experiencing extraordinary growth, driven by AI, cloud computing, cybersecurity, and data analytics breakthroughs. This growth underscores the pressing need for businesses to embrace digital-first strategies to stay ahead in a rapidly evolving market.
The spending on data centers owing to GenAI growth has increased 24% in 2024 as compared to 10% growth in 2023. Deloitte in their study has predicted that “nearly all enterprise software companies will embed generative AI into at least some of their products in 2024 and that the revenue uplift (for these companies and for the cloud providers of generative AI processing capacity) will approach a US$10 billion run rate by the end of the year. Deloitte expects 2024 to be a transition year, as generative AI-enabled software tools launch and adoption and revenues start to gain traction, setting the stage for more robust potential growth in 2025.”
Indian outlook
India’s IT sector continues to be a powerhouse, fueling economic growth and solidifying the nation’s status as a global tech hub. Cutting-edge technologies like generative AI, blockchain, and 5G are not only transforming industries but also reinforcing India’s appeal for technology investments worldwide.
Despite a cautious market climate and extended decision-making cycles due to cost-optimization efforts, IT exports are outpacing the broader economy. While India’s GDP is projected to grow by 7% in the 2022-23 financial year, the IT export revenue is set to soar by 11.4% in constant currency terms, reaching an impressive $194 billion, according to Nasscom. This highlights the sector’s resilience and its pivotal role in driving India’s economic momentum.
Tech Skills In Demand
As we approach 2024, emerging trends in artificial intelligence, cybersecurity, data science, and software development are shaping the skills most in demand by employers globally. Here are some of the tech skills that are in demand in 2024
Cybersecurity has emerged as one of the most sought-after tech skills in today’s market. There is a strong demand for skills associated with security, compliance and risk analysis. With cyberattacks becoming more frequent and sophisticated, companies urgently seek experts to protect their valuable data. Building cybersecurity expertise provides career stability and opens doors to diverse growth opportunities in this ever-expanding field. Some of the popular cybersecuirty roles that were in demand are that of
Network specialist
Cybersecurity Analyst
Cyber security specialist
Cybersecurity Engineer
Artificial Intelligence (AI) & Machine Learning (ML)
Artificial intelligence (AI) and machine learning (ML) have emerged as some of the most rewarding tech skills to have on your resume—and among the highest paying. These technologies are driving groundbreaking changes across industries like healthcare and finance. Mastery in areas such as machine learning, natural language processing (NLP), and data analysis are highly sought after in today’s job market. There has been a surge in Gen AI products in the last one year. And therefore the roles related to GenAI are in high demand. Some of the sought after skills in AI/ML domain are applied machine learning, deep learning, Python, NLP,Tensorflow, computer vision and neural networks. Popular roles in demand include
Machine Learning Engineer
AI engineer
Robotics Engineer
Data Science Engineer
Cloud Computing
One of the top tech skills to master in 2024 is cloud computing—delivering computing services over the internet. It offers game-changing benefits like scalability, flexibility, and cost efficiency. With the surge in demand for cloud administrators and engineers, these professionals play a critical role in developing, managing, and optimizing cloud-based applications across industries like tech, finance, and healthcare.Some of the popular roles in 2024 include
Cloud Engineer
Cloud Architect
Cloud Consultant
Site Reliability Engineer
Skills include Docker products, IaC, Kubernetes, Terraform,and Ansible.
Data Science & Data Analytics
In today’s data-driven landscape, data science and analytics rank among the most sought-after tech skills. Organizations are increasingly recognizing the need to harness the power of their data, and this is where data scientists and analysts step in as game-changers. Data analysts excel at transforming raw data into clean, insightful narratives that drive informed decision-making. Meanwhile, data visualization experts craft compelling visuals—like dynamic charts and graphs—that make complex data easy to digest. Together, these professionals help businesses uncover the true potential of their data, turning information into actionable strategies and measurable success.
Some of the popular skills include Python, SQL, Data Processing, Data Analysis, Visualisation, and Predictive Analysis. Statistical Analysis, Data Manipulation, and Exploratory Analysis are some of the fastest-growing skills in this area.
Robotic Process Automation (RPA)
Robotic Process Automation (RPA) is emerging as a must-have tech skill for the future, offering immense value across industries. By automating routine tasks, RPA liberates employees to focus on more strategic, high-impact work.
RPA boosts productivity and minimizes errors, driving significant cost savings and elevating customer satisfaction. Whether in finance, healthcare, manufacturing, or beyond, RPA expertise is highly versatile and in demand. As digital transformation accelerates, the need for professionals adept in RPA will only grow.
Blockchain
Blockchain technology, best known for powering cryptocurrencies like Bitcoin (BTC), is rapidly gaining momentum across diverse industries. By exploring its potential, you can position yourself ahead in the evolving tech landscape.
At its core, blockchain functions as a decentralized and transparent digital ledger. Unlike traditional, centralized systems, it relies on a network of multiple computers, or nodes, to verify and record every transaction. This distributed structure significantly enhances security—altering a transaction would require the approval of the majority of nodes, making tampering nearly impossible.
Blockchain, Distributed Ledger Technology (DLT), Cryptocurrency, Ethereum, Solidity, and Smart Systems are some of the skills that are high in demand.
Next Gen Software development
Mckinsey in their study of tech trends in 2024 has pointed out that “next-gen software development” is a trending technology. With the explosion of AI, and cloud-native architectures, the skill required in software engineering has seen a transformative shift.. With the availability of GenAI tools, software developers have moved into architecture design and problem-solving from basic coding. DevOps, Continuous Integration & Cloud computing are the key skills that are in high demand in this area.
Major Players Leading the Charge
Leading tech giants such as Google, Amazon, Microsoft, and IBM are spearheading innovation by making substantial investments in AI, IoT, and cloud computing. Meanwhile, in India, major players like Infosys, TCS, and Wipro, along with dynamic startups like Freshworks and Razorpay, are expanding their global presence and playing a key role in energizing the local tech ecosystem.
Contributing to the Economy
The tech industry has emerged as a key driver of economic growth, playing a pivotal role in boosting GDP, export revenue, and the digital transformation of nations. In India, the IT and BPM sector contributed more than 8% to the GDP in 2023, with this figure set to grow as industries across the board adopt cutting-edge technologies. On a global scale, innovations in AI, IoT, and 5G are enhancing operational efficiencies, cutting costs, and fueling sustainable growth in vital sectors such as healthcare, manufacturing, and finance.
Jobs and the Hiring Landscape
The global hiring landscape is being reshaped by the growing demand for tech skills. According to Korn Ferry, by 2024, the world will face a shortage of 85 million tech professionals, creating significant opportunities for individuals skilled in the latest technologies.
In India, the demand for experts in fields like AI, data science, cloud computing, and DevOps is on the rise. Reports predict that in 2024, the Indian tech industry will generate 300,000 new jobs, covering positions such as data analysts, cybersecurity experts, and blockchain developers. Platforms like Coursera and Udemy, along with government-backed initiatives like Skill India, are playing a key role in upskilling professionals to meet these growing market needs.
PeopleLogic Opinion
As 2024 unfolds, it is clear that technology continues to be the backbone of economic growth, global innovation, and societal transformation. From artificial intelligence and machine learning to cybersecurity, data science, and cloud computing, the demand for specialized skills is reshaping the job market. These technologies are not merely trends; they are pivotal forces that define how businesses operate, solve problems, and drive growth in an increasingly digital-first world.
For businesses looking to stay competitive in this fast-paced environment, having the right talent is crucial. That’s where comes in. As a leader in talent solutions, PeopleLogic specializes in identifying and connecting organizations with top-tier professionals skilled in the latest technologies. Whether your business needs an AI expert, a cybersecurity specialist, or a cloud architect, PeopleLogic leverages its deep industry expertise and expansive network to deliver tailored talent solutions.
