Strong is the ‘new normal’ in Industrie 4.0
Peoplebank Australia’s quarterly Salary & Employment Index of remuneration levels across Australia for more than 50 ICT job titles reflects a market in which the digital transformation revolution is in full flight. Released today, the report shows the revolution – Industrie 4.0 – is most evident in Sydney and, to a lesser extent, Canberra and Melbourne where digital projects in the Federal Government and broader business sector are driving overall demand.
In Sydney, demand levels are at their highest for seven years: and the number of projects in the pipeline suggest that strong demand will be the ‘new normal’ for 2015, comments Peter Acheson, CEO of Peoplebank.
“The defining characteristic of the NSW market is that of Government and business spending on digital development, that is new online capabilities, apps and internal systems to make the most of customer data,” says Acheson.
“This surge has meant that the banking and finance sector – historically the largest employer of IT skills in NSW – now accounts for just 50% of the market.”
Demand for ICT skills across Australia is also being supported by the falling Australian dollar. It is now low enough to stimulate activity in trade exposed export and import competing industries: the sectors which have been deferring projects and capital expenditure for several years. Pent up demand and a more favourable Australian dollar are now spurring these organisations to make new investments in technology and R&D, supporting Australia’s transition to a broader economy.
“The net impact of these markets is that Australia is earning its ranking in the world’s Top 10 markets for digital attractiveness,” comments Acheson.
However, there is a risk to Australia’s continued digital expansion: as the lower Australian dollar and changed migration conditions have combined to deplete the number of overseas trained digital professionals in the Australian skills pool.
“Over the longer term, the risk is that a shortage of digital skills could slow down transformational projects,” Acheson concludes.
“Through these projects – the transformation to Industrie 4.0 – Australia’s digital economy has grown by 50% in just three years . It is our nation’s biggest growth lever, and we need to support its positive impact on business productivity and our capacity to compete in global markets.”
To view our Salary & Employment section, please go to: https://www.peoplebank.com.au/salary-index.