The engineering market is expanding rapidly and is projected to grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to reach $1,188 billion by the end of 2024. By 2028, the market is projected to reach $1,366.8 billion, reflecting a steady growth rate of 3.3%. Technological advancements and increasing demand for innovative solutions across various industries are driving this expansion.
The U.S. Bureau of Labor Statistics (BLS) projects that information technology jobs will grow 15% by 2031, faster than the average for other occupations. Additionally, approximately 140,000 new engineering jobs are expected to be created by 2026. These trends highlight the importance of continued skill development for engineers looking to succeed in the global marketplace.
To enter an international technical career, engineers should focus on areas that are seeing significant growth and demand.
Artificial Intelligence and Machine Learning: The demand for AI specialists, data scientists, and machine learning engineers has skyrocketed recently. According to LinkedIn’s Emerging Jobs Report, AI specialist jobs have grown 74% annually over the past four years. Engineers with expertise in AI and machine learning are highly sought after in the global market as companies across industries look to leverage these technologies for innovation and efficiency. The U.S. Bureau of Labor Statistics reports that the median annual salary for an AI engineer is $136,620. Glassdoor also puts the median base salary for an AI engineer at $108,043.
Cybersecurity: With increasing reliance on digital platforms, cybersecurity has become a major concern for organizations worldwide. According to a report by Markets and Markets, the global cybersecurity market is expected to grow from $190.4 billion in 2023 to $298.5 billion by 2028, at a CAGR of 9.4% during the period. As businesses look to protect their digital assets and ensure the security of their operations, there is an increasing demand for engineers with cybersecurity skills.
Robotics: LinkedIn has seen a 40% annual increase in demand for professionals with robotics skills. Robotics is a dynamic field with both software and hardware roles, and many companies in the sector are highlighting its growth potential.
Data Science: LinkedIn says the demand for data scientists is growing 37% annually. Data science remains a top field due to its vital role across industries and the evolution of related roles such as statisticians.
Full-stack engineering: Demand for full-stack engineers has been growing steadily, with annual hiring increasing 35% since 2015. This role is valuable because of its versatility, allowing you to handle many different aspects of development.
Site Reliability Engineering: With demand growing 34% annually, site reliability engineers play a key role in ensuring smooth operations and development processes. Skills in this field are also transferable to other engineering roles such as cloud engineer and full stack engineer.
Data Engineering: Hiring for data engineers has increased nearly 35% since 2015 as companies seek experts to manage and organize valuable data. Amazon Web Services skills are especially in demand.
Cloud Computing: As more businesses move to the cloud, there is a growing demand for engineers with cloud computing skills. Familiarity with cloud platforms such as AWS, Azure, and Google Cloud can significantly increase an engineer’s employability in the global market. Cloud computing is a key area for engineers to focus on as it is flexible, scalable, and cost-effective.
Building a global mindset: Upskilling is not just about acquiring technical skills. It is also about developing a global mindset. Engineers who aspire for an international career need to develop an understanding of different cultures, work environments and business practices. This can be achieved through intercultural training, international collaboration and staying up to date on global industry trends.
Fluency in a language other than English is a strong advantage: in many international markets, being able to communicate in the local language differentiates engineers from their peers and makes them more effective in a diverse work environment.
With the rise of online learning platforms, upskilling has become easier than ever. Engineers can now enroll in courses from top universities and institutions around the world, learn at their own pace, and earn certifications.
Building a strong professional network is crucial for engineers aspiring to an international career. Attending industry conferences, joining professional organizations, and connecting with colleagues on platforms like LinkedIn can help engineers stay connected to the global technical community.
By 2023, 83% of Indian professionals will be focused on upskilling, highlighting the importance of keeping up with industry trends. Upskilling is essential for engineers aspiring for a global career. Focus on areas like AI, cybersecurity, data science, and cloud computing, combined with a global mindset, will put engineers at the forefront.
(The writer is CEO of a student development consultancy.)
Published on 24 Sep 2024, 03:29 IST
