As we work towards getting better from the effects of the global pandemic, we can’t forget how it affected students. The economy suffered a major setback, and many people lost their jobs. Companies had to save money, and some job positions were no longer needed because they didn’t help the company grow anymore. This automatically raises a question in our mind what are those careers that have a good scope in the future, and what courses one must pursue?
As we are aware the Job market is dynamic, and the demand for specific skills may change over time. It’s essential for students to research the latest trends and consider their interests and abilities when choosing a course of study. Here are five areas of education that are likely to have promising prospects this year:
Data Science & Machine Learning
With the increasing importance of data across various industries, there is a growing demand for professionals who can analyze and derive insights from large datasets. As per the data, India ranks second globally in hiring young talents for data science and related research. AIM Research report suggests, India has played a significant role, contributing to 9.4 per cent of the total global analytics job openings, which is an increase from 7.2 per cent in January 2020. Projections indicate that the Indian analytics industry is expected to grow to USD 98 billion in 2025 and almost USD 119 billion in 2026. Presently, there is a tremendous demand for data scientists in India, and analysts anticipate approximately 11 million job opportunities in data science in India by 2026.
With a sudden rise in data availability and technological advancements, the demand for machine learning professionals is soaring. Its scope lies in developing innovative applications, enhancing efficiency, and solving complex problems, making machine learning a transformative force shaping the future of industries and society. According to Analytics Insights, Machine learning in Asia-Pacific is projected to grow from US$15.50 billion in 2021 to US$152.24 billion in 2028 at a CAGR of 38.6 per cent in the forecast period.
Cybersecurity
In an era of increasing cyber attacks, the course provides expertise in risk management, threat detection, and secure system design. Cybersecurity professionals are in high demand to address evolving threats, ensuring the integrity and confidentiality of information. As per NASSCOM, the cybersecurity market in India is projected to reach $35 billion by 2025, generating more than 1 million job openings. This presents a huge opportunity for those interested in pursuing a career in cybersecurity. Keeping in mind the increasing demand for cybersecurity professionals there has been a significant increase in the number of students pursuing careers in this field. National Skill Development Corporation (NSDC) report suggests the number of students enrolled in cybersecurity courses has increased by 40 per cent over the last few years.
HealthCare & Biotechnology
Advancements in healthcare and biotechnology are continuously, creating opportunities in fields such as bioinformatics, pharmaceuticals, and medical research. The scope of healthcare and biotechnology is vast and holds significant promise for advancements in medicine and patient care. A report by NITI AYOGA states that healthcare has become one of the largest sectors of the Indian economy and is expected to reach $372 billion in 2022. As technology continues to evolve, the healthcare and biotechnology sectors are poised to play a significant role in shaping the future of medicine and healthcare.
Engineering
The world of engineering is always changing with the rise of new technologies and industries. In the future, the most demanding engineering courses in future will likely focus on fields experiencing rapid growth and change, such as renewable energy, artificial intelligence, and biotechnology. These areas are anticipated to have a significant impact on the future and will require a new generation of engineers with specialized skills and knowledge. The Hindu report states that, India is going to have 12 million vacancies for engineering jobs in the next 5 years.
India is one of the world’s top manufacturers of engineers, with more than 7,000 engineering institutes located there. India is home to many global engineering and technology companies, including Tata, Infosys, and Wipro. The tech industry continues to evolve, and there is a constant demand for skilled engineers.
Management (Financial/ Marketing)
Management, specifically in financial and marketing domains, holds immense promise for the future. In the financial realm, the increasing complexity of global markets and the integration of technology demand skilled financial managers. The surge in digital transactions, evolving investment landscapes, and the need for risk management create a robust demand for financial management expertise.
In the marketing sector, the digital era has transformed traditional practices, emphasizing data-driven strategies and online platforms. Marketing managers navigating this landscape must understand consumer behavior, social media dynamics, and emerging trends. With e-commerce thriving, effective marketing strategies are vital for brand success. India is set to become the world’s third largest consumer market by 2027 according to a report by BMI.
It’s important to stay updated about industry developments and consider pursuing courses that suit your interests and the current demands of the job market. Additionally, gaining practical experience through internships, projects, or certifications can enhance your employability.
— Written by Nidheesh Saxena, Senior Director of Admissions, Gitam Deemed to be University
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