Wednesday, 19 May 2021 10:44

Victoria tech sector forecast to grow 5.8% annually till 2025

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Victoria tech sector forecast to grow 5.8% annually till 2025 Image by Joseph Mucira from Pixabay

The IT sector in Victoria is forecast to grow by 5.8% per annum over the next five years, above the national average (5.4%) and second only to Queensland (5.9%), a survey predicts.

The 2021 ACS Digital Pulse Report said Victoria employed 246,163 people in the tech sector, a small drop (0.30%) from 2020.

The report, drafted by Deloitte Access Economics for the Australian Computer Society, said the Victorian IT workforce was the second largest, behind NSW, and was catching up in numbers.

Despite the pandemic, the technology workforce in the country grew by 33,400 in 2020 to total 805,525, a increase of 4.3% year-on-year. In comparison, the workforce in professional industries grew by 1.3% while the overall number of workers nationwide fell by 1.7%.

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Almost a third (31.4%) of technology jobs in the country are expected to be in Victoria by 2026.

The report found that 29% of tech jobs are held by women, compared to 47.5% in similar occupations in the professional, scientific and technical services industry.

"Based on current trends, it would take more than half a century (66 years) for technology occupations to reach the level of female participation in PST today," the report said.

Other key national findings:

  • Over the next five years, the technology workforce is forecast to exceed 1.1 million, growing more than four times faster than the broader labour force numbers.
  • Young Australians are recognising the value of digital skills with IT being the fastest growing field of education for domestic enrolments with more than 41,000 in 2019.
  • Nevertheless, current trends indicate an impending gap between the need for extra 60,000 technology workers each year and just 7000 domestic IT degree graduates.
  • The Australian ICT sector's gender imbalance threatens to hold the economy back, as achieving parity in the industry would boost employment by 5000 new workers a year in the first 20 years.
  • The top software programming skills demanded by employers include SQL (requested in 14% of job postings), Java (10%) and DevOps (9%).

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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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