The tech industry is one of the fastest growing in the world.
With new innovations being created every day to further its advancements, it will likely top other major industries like oil, gas, and manufacturing in demand, money, and power. In fact, the tech industry will likely improve or absorb these industries.
This isn’t news, though. For the better part of the last decade, the tech industry has been set up to scale quickly.
Even as we enter 2023 in an economic recession, software engineering and development continues to be, if not recession-proof, at least recession-resistant. It’s one of the most secure jobs in any industry right now due to an already small talent pool. Companies aren’t willing to part with their developers and engineers as easily, given they’re hard enough to come by. This is why many are considering a career switch entirely to software development and engineering — job security, for one, and a competitive salary to boot.
In light of new advancements, there’s surging demand for software engineers and developers to continue creating innovations. This demand isn’t going anywhere anytime soon, and it continues to grow every day.
According to the Bureau of Labor Statistics, “Employment of software developers, quality assurance analysts, and testers is projected to grow 22 percent from 2020 to 2030, much faster than the average for all occupations.”
What companies are up against, however, is a small talent pool. The engineer and developer skill set is needed in so many verticals that companies are willing to pay top dollar for folks with the ability to build projects, problem solve, and work with others. According to ncube, there are significantly more jobs in computing and engineering than there are college graduates to fill them (hence why bootcamps like ours exist to help reskill!).
Not only is it the perfect career track to start now (and get in on the ground floor at some of the world’s biggest burgeoning tech companies), but demand is only going to continue to grow.
Let’s look at what the next 5-10 years will look like in the tech industry, specifically for web developers and engineers, and see what’s driving this unprecedented growth.
Why is demand for software development so high right now?
With a good portion of our lives — work, personal, and otherwise — happening on devices, every industry needs people that will bring their products, solutions, and services into the digital era.
Take ecommerce, for example: in 2022, the industry is on track to top $1T in sales, growing exponentially year over year and projected to double just in the next few years alone.
Retail companies have learned the importance of a seamless online shopping experience, especially during the pandemic while stores were shuttered. Over half of global consumers continue to prefer online shopping to in-person shopping because of convenience.
Consider other industries, too, like healthcare and the invention (and continued improvement) of telehealth. Entertainment and events and the ability to livestream or join them through virtual reality. Dozens and dozens of software for businesses, project management, planning, team communication, and more. The auto industry and the ability to buy and sell your car online.
Every single industry has or will develop the need for a digital solution, which is why the talent pool needs to continue to grow.
With the addition of new solutions and products comes increased risk of hacks and other cybersecurity breaches. While this is an additional skill set, engineers or developers who have the knowledge to put security measures in place will see even more opportunities open up.
The projected 10-year growth outlook for software engineers and developers
As we mentioned earlier, the job outlook over the next decade for software engineers is significantly higher than other career paths, with the BLS noting it’s around 22%. We’ll likely see that number grow over time, as well.
Another promising statistic to note about software engineers and developers is the average salary. The latest data clocks even an entry-level, or E1, software engineer salary at just over $87,000. That number can range depending on where you live, the company you work for, and the skills you bring to the table. For example, it’s not uncommon for junior developers to make six figures in the Bay Area coming out of school, a bootcamp, or self-taught studies.
Because this skillset is so pivotal to a company’s continued success, they’re paying top dollar for anyone who can build out mobile apps, web pages, and other pieces of software.
Finally, tech has always been and will continue to be at the forefront of remote work. The work of a software engineer doesn’t require them to be in person, and most syncs can happen virtually (and do). While that philosophy varies by organization, software engineers regularly praise the industry for noting the remote-friendly nature of the role.
Where can you start your career in software development?
There are a number of ways you can begin developing the skill set you’ll need to start this career. What you need to decide is how long you want those studies to take and how much you want to spend.
A bachelor’s degree in computer science will take at least two to three years and run you a considerable amount of money. On the other hand, coding bootcamps like App Academy were designed to condense the necessary knowledge into a more efficient period of time and, in many cases, can be more affordable, too.
If you’re dedicated enough to self-learning, App Academy Open is a great solution to those who have the patience and the determination to teach themselves. This entirely free resource is the most affordable of all options (re: no cost at all!) and boasts the exact same curriculum our Campus students learn, meaning you’ll be primed to apply for jobs upon completion of the course.
Get started today!
The data doesn’t lie: software engineering is the high-growth career path, laid with nothing but opportunities.
To learn more about how App Academy can get you started, download our free Student Experience Package here.