Technology sector in 2024

Technology sector is growing rapidly in 2024 despite various challenges. Key growth factors include increased demand for digital solutions from businesses, growth in e-commerce and mobile apps, growth of the startup ecosystem, and government support for innovation. In this article, we will analyze. IT Jobs in Mexico and identify key growth trends in the labor market.

In the fourth quarter of 2023, 422,000 people were employed in the software development and multimedia industry, an increase of 8.87% from the previous quarter. Average salary increased 12.4% to $10,200 per month. These figures indicate a high demand for technicians and good job opportunities in the industry.

Men dominate the workforce (80.7%), but the proportion of women is gradually increasing, reaching 19.3%. Most employment is seen among the 25-34 age group (191,000 people). The average age of professionals is 36 years, which represents a relatively young and dynamic workforce.

Most workers are highly educated – about 402,000 have 16 or more years of schooling. This underscores the importance of quality education for a successful career in the technology sector. 89% of professionals with this level of education work in the formal sector of economics.

The level of informal employment in the software development sector is relatively low – 11% compared to an economy-wide average of 54.8%. Among the informally employed, men predominate (87.7%), with an average salary of $3,020, compared to $9,800 for women. The highest informal employment is found in Oaxaca (45.5%), while the lowest is in Tamaulipas (2.02%).

Several key trends define the growth of the technology sector in 2024:

  • The rapid development of artificial intelligence and machine learning. More and more companies are adopting AI to automate processes, personalize services and analyze data. This creates a demand for experts who develop and train intelligent models.
  • Expansion of the cloud computing market. Businesses are actively moving their infrastructure and applications to the cloud to improve flexibility, scalability and service availability. There is a growing demand for cloud solution developers on platforms like Amazon Web Services, Microsoft Azure and Google Cloud.
  • Greater focus on cyber security. As businesses go digital, so do cyber risks such as data breaches, ransomware and DDoS attacks. Companies are forced to invest in computer security and hire information security experts.
  • The popularity of big data and analytics technologies. Organizations aim to extract valuable information from vast data sets to make more informed decisions. These increase the demand for data analysts, big data engineers and visualization experts.
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In addition to these trends, areas such as the Internet of Things (IoT), Blockchain, Virtual and Augmented Reality (VR/AR) and 5G networks continue to evolve. These technologies are gradually moving from concept and prototype stages to real business solutions, creating new markets and employment opportunities.

Challenges and issues

Despite the rapid growth, the technology sector faces several challenges that can hinder its growth:

  • Shortage of qualified personnel. According to industry surveys, more than 70% of technology companies struggle to find and hire professionals with the necessary qualifications. The problem is particularly acute for software developers, data engineers, AI experts, and cybersecurity professionals.
  • Inadequate investment in research and development (R&D). Experts estimate that technology companies spend less than 1% of their revenue on research and development. This is significantly lower than leading innovation nations such as the US, China and Japan. Without adequate R&D funding, it is difficult to develop breakthrough products and services.
  • International competition will increase. Many foreign players, especially from Asia and Eastern Europe, offer low-cost software development outsourcing services. This creates price pressure on local firms and complicates their access to international markets.

The digital industry is evolving in a very dynamic manner, and know-how quickly becomes outdated. A cutting-edge solution a couple of years ago may be obsolete today. This requires professionals to constantly learn and adapt to new trends.

Sector growth forecast

Despite the current challenges, most experts offer optimistic forecasts for the growth of the technology sector in the coming years. The industry is expected to continue to grow at a rapid pace due to the increasing digitization of business and economy.

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The government plans to further support technology development through investments in education and professional training. Expansion of academic programs in information technology and introduction of new specializations in data analytics, AI and cyber security are expected. Tax breaks and other incentives for innovative companies are also being considered.

Based on the in-demand skills and professions of the future, experts highlight the following areas:

  • Software development, especially at the intersection with other technologies (IoT, blockchain, AI).
  • Data Science and Machine Learning.
  • Cyber ​​security and information security.
  • Cloud Computing and DevOps.
  • IT projects and product management.
  • UX/UI design and interface development.
  • Technical support and customer service.

In addition to purely technical skills, employers increasingly value „soft skills” such as teamwork, creativity, adaptability, leadership qualities, and emotional intelligence. In the context of remote work and complex projects, these skills become critical to success.

Conclusion

Technology sector in 2024
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The technology sector maintains high growth potential despite challenging economic conditions. The digitization of business and society, the introduction of breakthrough innovations and the demand for skilled professionals are the factors that continue to support the growth of the industry.

At the same time, the industry faces significant challenges. Overcoming these challenges requires joint efforts of the government, business organizations and academic institutions.

It is critical that the government implement sustainable and long-term policies to support the technology sector and promote research, development and labor training. Businesses need to invest more in innovation, human capital and corporate social responsibility.

Effective collaboration of all stakeholders will largely determine the country’s position on the global technology map. Ultimately, the growth of the digital economy is a matter of national competitiveness and long-term prosperity for citizens.

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