More than just a necessity for business continuity, technology played a leading role in business efficiency and productivity — essentials in today’s highly connected and competitive business landscape.
According to a Forrester survey conducted in late 2020, only 46% of companies in Malaysia were on a digital transformation journey. But due to the pandemic, 34% of firms with no digital transformation plans decided to kick them off in 2021.
The pandemic, digitalisation, and changing consumer behaviours are reshaping Malaysia’s technology landscape. The information technology specialist team at Randstad Malaysia predicts four must-watch areas of technology growth in 2022.
4 key areas of growth in the technology space
E-commerce, fintech, cloud and cybersecurity are the key streams for growth and opportunities in 2022’s strategic technology trends across the technology sector.
Randstad Malaysia predicts that demand in the e-commerce sector will maintain its momentum in the years to come, even after the pandemic abates and social distancing measures are relaxed.
Tech companies specialising in e-commerce solutions are starting to strengthen their IT capabilities to meet the increasing customer demands for a wider access to goods and services. Hence, product owners are rising in demand since companies need talent who can manage the full product development cycle. Security is also a growing concern amongst e-commerce firms and merchants, with companies seeking talent in application security, DevSecOps, as well as cloud security professionals.
Fintech is another area that continues to experience significant growth due to changing consumer behaviour and regulatory changes.
E-wallets is one of the sectors that has been growing over the last few years and is now stabilising. While a few major players are still dominating the market, there are now lots of other smaller, Software-as-a-Service (SaaS) companies that are coming up with new and innovative ideas as well as digitising services in a way that we never thought could be done in the past.
In 2020, SaaS conferencing was the easiest and quickest solution for companies to implement. Malaysian companies are now leveraging cloud technologies to better navigate the digital economy.
For instance, the rise of SaaS-based customer relationship management platforms are creating more opportunities for companies to build their customer base, as well as improve customer experience and satisfaction.
Cloud technology has been in demand in the last one to two years. While the demand is still there, the focus has shifted greatly from cloud computing to cloud security. As a result, more companies are hiring cloud security engineers, DevOps, and DevSecOps engineers to strengthen their data security and compliance.
In relation to the rise of cloud technology, there is a huge demand for cybersecurity professionals today. As Malaysian firms of all shapes and sizes go digital and incrementally move their operations online, their vulnerabilities to cyber threats have also increased.
talent trends in the malaysian technology sector for 2022
As the technology industry continues its growth in 2022, they will need to hire more skilled tech talent to drive innovation. Most companies have already adapted to the new normal and are more comfortable conducting virtual interviews. However, companies now face a new challenge - hiring the right talent to navigate the new normal.
There is a rising demand in the IT industry for highly skilled talent who specialise in cloud, security, and other emerging technologies. Medium and large-sized organisations are also looking to hire software developers, data engineers and data scientists to leverage big data to make better informed decisions on the strategy level.
download the 2022 malaysia’s job market outlook and salary snapshot report.
key highlights of the technology industry outlook 2022
The 2022 Market Outlook and Salary Snapshot report looks at talent analysis and new post-pandemic salary benchmarks in the following high-growth industries:
If finding exceptional talent for your business is a key challenge or if you want to take your workforce ready for the future of work, please get in touch with us. You can also check our key areas of expertise in IT recruitment.