Singapore Tech Trends and Outlook 2022
For the past two years, COVID-19 has affected our lives in ways we had never imagined. As the world slowed down due to movement restrictions, technological innovation gained pace. Since then, we have witnessed how technology has impacted society in almost every area, from contact tracing to making healthcare accessible to everyone and from online education to remote work.
According to the Annual Survey 2022 by SGTech, large enterprises scaled themselves well and are looking to increase their headcount in 2022 as well. However, in spite of the huge demand for skilled professionals, there is a talent crunch that has made companies interested in hiring mid-career switches.
If you are a technology enthusiast, find out below on the four trending areas to focus on in 2022 and make the best of this opportunity.
Artificial Intelligence and Machine Learning
Hyper-automation, an amalgamation of advanced automation technologies and artificial intelligence to automate companies and processes to make the workforce more efficient, is rapidly gaining pace. Organizations today utilize AI and automation to transform existing systems and processes, drive customer engagement, build business resiliency, enhance productivity, and reduce costs.
According to a press release by Accenture, by 2035, the application of AI in Singapore alone is expected to create a gross value of $215 billion. SGTech annual survey reveals that 27% of companies in Singapore adopted disruptive technologies and the use of cloud automation and chatbots have been on the rise; 24.6% are yet to adopt and 6.6% of businesses intend to adopt AI in the next 12 months. Also, unlike the common perception that AI and automation will kill jobs, this is turning out to be a golden opportunity for automation professionals looking for a job change or a technology enthusiast wanting a career switch.
Cloud Computing and Cloud Applications
Owing to the country’s business friendliness and powerful cloud hosting infrastructure, the adoption of cloud computing technologies in Singapore is highest in the ASEAN region.
G-Cloud, the Singapore Government’s cloud rollout continues to stimulate cloud computing giving rise to several new and exciting use-cases in this field.
SaaS has become a preferred cloud service model. The country has also witnessed a rise in Data-as-a-Service (DaaS), where high-quality data for analytics is deployed on the cloud.
Companies are focusing on optimization and consolidation of data, services and processes.
With this rapid adoption of cloud technologies, organizations are also looking for cloud engineers and architects with experience ranging from cloud-native application development to AWS, Azure and Google Cloud practitioners.
The high demand for cloud specialists is also paving the way for other software professionals who wish to move to cloud computing.
Some of the top in-demand certifications related to the cloud by Hiring companies in Singapore are:
- Google Professional Cloud Architect
- AWS Certified Cloud Practitioner
- Microsoft Certified: Azure Fundamentals
Also, to bridge the gap between recruiters and recruits, HackerTrail has partnered with Accenture and Aviva that are looking to increase their cloud workforce.
As we move towards a digitized economy, compliance and cybersecurity have become the biggest concern for companies. Large enterprises in Singapore are estimated to increase their cybersecurity spending budgets by 85% and SMEs by 53% for the year 2022. Because of the growing demand for professionals specializing in cybersecurity, the Singapore education system has introduced several courses in this domain.
Also, according to IMDA, a Singapore Government agency, the cyber security market in Singapore is estimated to reach US$889 million in revenue in 2022.
Three areas in compliance that are budgeted for maximum spending:
- Data protection,
- Data governance
- Risk management
Top three spending areas for cybersecurity technologies:
- Endpoint Security
- Network security
- Security and vulnerability management
Clearly, these increased budgets also mean an increase in demand for skilled security professionals. While the top in-demand certifications by hiring companies in Singapore are:
If you are a beginner or interested to get into the cyber security track, here are foundational programs to get started:
Moreover, candidates should keep an eye on any open positions. Below are the clients that HackerTrail has partnered with:
Aviva - Insurance Company
Softscheck - IT Security Company
Organizations, both public and private, are utilizing big data and analytics today to track, analyze and gain insights from large volumes of business data and make decisions based on these insights. One such crucial use case was to fight the pandemic through applications that used data analytics for contact tracing.
Research by Beroe, Inc., a leading provider of procurement intelligence, estimates the global business intelligence market to reach $30.9 billion by 2022, the key driver being big data analytics.
Thus, to get the maximum benefits from the data already available to them, companies are adopting a holistic approach by embedding data and analytics into their business functions and processes. Data analytics will help organizations enable their workforce to keep track of the latest market trends, analyze consumer behaviour, detect anomalies and threats efficiently.
EDB Singapore estimates that by 2022 the data analytics services will reach $37 billion, with support from government incentives and investments, as well as real estate investments trust.
Data analytics has found applications in diverse domains such as urban services, consumer/retail, healthcare, finance, etc.
But there is a disparity between the demand and availability of existing data analytics professionals in Singapore. Therefore, the country aims to upskill 2,500 people as data analytics experts and be a part of the workforce.
Due to the mounting opportunities in data analytics, people looking to work in the field should improve their skills and aim for a lucrative job.
The need for faster computation, analysis of exponentially increasing data volumes, intelligent and automated systems, remote operations will remain the indispensable drivers of digital transformation. Businesses are massively integrating AI, machine learning, and cloud technologies into their processes and infrastructure. The next wave of innovation will be built around these technologies. However, there is a dearth of skilled engineers and computer scientists in Asia who are well-versed in the above technologies.
If you are looking to make an impact in disruptive technologies, make the most of this opportunity by brushing up your existing skills such as Python, machine learning and cloud concepts, etc. Alternatively, those willing to make a career change could also opt for certification in their desired field.
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