As we approach the end of 2022, we’re exploring what tech business leaders and candidates should be ready for in 2023. We spoke with our consultants, who are experts in their fields, and conducted some research to bring you four tech trends we expect to see in 2023, as well as their impact on the job market.
Metaverse
According to Forbes, experts predict that the metaverse will add $5 trillion to the global economy by 2030, and 2023 will be the year that defines the direction of the metaverse for the next decade. It is predicted that the metaverse will also become more integrated within the work environment, giving colleagues the chance to have more immersive meetings. As more companies jump on board this trend, it could become an aspect that potential employees look for in companies, especially those in tech and those who work remotely.
Almost three-fourths of the US population is on board for joining the metaverse, and by 2026, 30% of businesses are anticipated to provide services and goods for the metaverse. Making it highly likely that the number of occupations associated with the metaverse will increase; from specialists who can build the metaverse's infrastructure to designers who will determine the interface's appearance.
S/4HANA
We sat down with Oliver Parks Senior Associate, Lindy, who specialises in SAP and ERP, primarily in the German market but also in Austria and Switzerland. Lindy mentioned a trend in which more and more businesses are upgrading their software systems to S/4HANA. A trend Lindy predicts will only increase in 2023.
This trend has already begun changing the job market. With more candidates looking for experience in S/4HANA, it is becoming a key aspect candidates look for when considering changing companies or jobs.
Some companies are not keen on implementing S/4HANA or changing from SAP to other ERP systems. However, this is causing candidates to want to leave their current company because they will not gain experience in popular and relevant software for their future. One for companies to watch out for in 2023 in order to retain their best and brightest employees.
No-code and low-code
By 2024, Gartner predicts that low-code development will account for more than 65 percent of application development activities. As we recently explored in our recent blog article, both low-code and no-code are two new software development solutions that are gaining popularity due to their convenience in comparison to traditional methods. According to Straits Research, the global low-code development platform market was worth $16.3 billion in 2021 and is expected to reach $148.5 billion by 2030.
This growth is expected to continue in 2023, bringing with it changes to the labour market. As these low-code and no-code applications get more sophisticated, customers will require technical skills to manage low-code and no-code software, meaning that it is probable that more low-code specialist roles will become available in the market in 2023. In terms of how this will affect current developers, it’s predicted that it will allow developers to focus on the more complex tasks by handing over some of the more maintenance-focused development to the user.
Cybersecurity
We spoke to Katja, a manager specialising in the Nordic countries at Oliver Parks. Katja raised how the current situation in the world and the ever-growing dependence on technology for everyday life have highlighted the crucial need for cybersecurity professionals.
As global cyberattacks have increased by 28% in the third quarter of 2022 compared to the same period in 2021, it has become clear that more cybersecurity specialists are needed around the world. When it comes to the Finnish market, Katja has seen a rapid increase in the need for cybersecurity professionals. With IoT cyber attacks alone expected to double by 2025, we believe that this rising need for cybersecurity personnel will continue in 2023.
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