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Cloud and allied service market to touch $ 2102 billion by 2020: NASSCOM & other global agencies

Posted on July 7, 2015

Developments in the context of IT industries have reinforced questions as to whether the opportunities and the business scope of the software industry is in the path of sustainable development and weather the opportunity for the fresher’s in the industry, are being respected. This was brought out by NAASCOM in a survey to figure out the scope for the business in different verticals in IT by the year 2020. The major concerns that the report talks about is not on the traditional comfort zones of the software industries, but on the foreseen challenges that the industry ought to confront and about the emerging new verticals and prospects in the IT industries The results of the survey by Nasscom is an eye-opener on the new and emerging opportunities in the new verticals in IT.

Global business scope of ICT products and services in future

The scope for the software market is narrowed to $398 billion USD among $2500 billion USD, Which shows the difficulty in the growth of Software Industry. But the cloud service market is expected to reach $2102 billion globally by 2020(Nasscom), which includes other verticals like Cloud Computing, Remote Infrastructure Management Services, Information Security, Data center Engineering, 4G Technology, Data Analytics and Mobility. This shows the huge number of job opportunities in the near future.

IT job seekers must be able to adapt and update themselves with these new developments and changes. IT industry is in hunt for trained freshers. IT industry has created a strong platform with wide scope in Cloud Computing, Information Security, Infrastructure Management Services, Storage, etc. To build a comfortable job in these verticals, a professional has to undergo training which gives an exposure to both theoretical as well as practical knowledge.

Various professional expertise requirements in current IT industries

The topmost five industries hiring Big Data-related expertise include Professional, Scientific and Technical Services (25%), Information Technologies (17%), Manufacturing (15%), Finance and Insurance (9%) and Retail Trade (8%). The following graphic shows the distribution of open positions as of June 25, 2015:

Median range of salary of an IT professional in the industry

The median advertised salary for professionals with big data expertise is $104,850 a year, up from $103,000 at the beginning of 2015. Sample jobs in this category include Big Data Solution Architect, Linux Systems and Big Data Engineer, Big Data Platform Engineer, Lead Software Engineer, Big Data (Java, Hadoop, SQL) and others. In the last six months there has been an exponential increase in the number of sales,Management Analysts and Information Security Analysts. The distribution of median salaries across all industries shown below:

The exciting information is that, 85% of cloud servers are running in Linux, of which 75% are in Red Hat. Without any doubt we can say that Red Hat Certification guarantee a job in Cloud, as it assures you an upper hand.

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