The tech industry is booming in North America! If you’re a beginner and completely new to this industry, the economic power of this industry will shock you. Not only is the industry the fastest-growing in the U.S, with a current valuation of $1.6 trillion.
Guess what? Experts believe the industry will be worth $5 trillion by 2025.
As a result, there are so many incredible job opportunities for people of any age and especially new graduates. The technology industry isn’t just a U.S based industry; it’s a genuinely global industry. Countries like Japan, China, the U.K, South Korea, and Germany have robust technology industries.
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Let’s face it; you’ve probably used various technology products. Whether it’s a sleek iPhone with various cool applications or an excellent MacBook laptop with robust hardware, technology is part of your life.
Companies have benefitted hugely from the growth of the SaaS industry, which the tech industry defines as cloud-based software that allows you to store critical software and information. Previously, you would have to use external hard drives, but SaaS has made the business world far more seamless.
Here are some staggering statistics on the significance of the tech industry!
- Over 22 billion tech devices connected to the internet in 2019
- 34 percent of workers believe AI will take over their job in the next three years
- Over 80 percent of leading business executives think AI will reduce paperwork
- The United States exported over $300 billion worth of tech goods in 2020 alone
- Almost 60 percent of the world is on social media in 2021
- The State of California saw over 140,000 jobs posted in the second quarter of 2020, despite the pandemic
So now you understand the sheer impact of the tech industry on life, jobs, and the economy — let’s take a deeper look at tech and why it could be your future!
What is tech?
Technology is often defined as equipment or new machinery that science has developed to better the lives of the human race.
Technology has rapidly evolved over the past twenty years. Do you remember your first mobile phone? If not, how about those brick-sized Nokia phones where you played snake for endless hours? That’s only in 1999 — before the so-called Millenium Bug — and look how far technology has grown.
Moreover, significant technological advances took place from 2010 to 2020. These changes impacted our lives enormously. Many tech experts and economists refer to this decade as the “decade of disruption,” and it’s not hard to see why!
The 5 Recent “Shifts” In Technology:
1 – Phone data transformed from 3G to 4G
Do you remember those days where it was hard to find the internet on your phone? It’s not that long ago. From 2010 to 2020, the tech industry introduced 4G and made our lives more connected than ever. As a result, the use of social media grew, and the world became more digitally connected. The tech industry saw huge growth because of this.
2 – The introduction of electronic vehicles
Elon Musk wasn’t overly well known outside of the business world from 2010 to 2020. Still, today’s he’s world-famous, and his impact on the introduction of electronic vehicles has been paramount to the tech industry’s growth.
For example, in 2016, only 1.1 percent of cars were electric. Today, electric cars account for 2.6 percent of global car sales in 2019. As a result, the electric car industry and the tech industry involved have seen vast growth.
3 – AI took off and grew companies, fast
Artificial intelligence wasn’t a thing before 2010, but it’s a different story now. For a decade, payments, online searches, and social media views have left a steady digital trail. As a consequence, more companies are starting to use AI algorithms to optimize data; advancing company growth at rapid speed.
4 – Data storage moved to cloud storage, creating the SaaS industry
Do you remember the days where everyone had a massive external hard drive? Of course, external hard drives are still popular, but the introduction of cloud storage has changed that. Cloud computing has allowed companies to conduct HR management, accounting, and other critical business components from online cloud storage. In turn, it’s made business far more streamlined and created the Software-As-A-Service (SaaS) industry.
5 – The growth of genomics & precision medicine
People often refer to precision medicine as personalized medicine. Either way — it doesn’t really matter what you call it — the industry has boomed in the past ten years. Now, medical companies can use patients’ genetic information to find the most suitable medicines to treat their illnesses. Furthermore, genomic sequencing fell, and precision medicine went from an idea to a reality.
Here are some staggering statistics on technology changes in the past twenty years:
- 740 million people used cell phones at the start of the 2000s, but that increased to 8 billion cell phone subscriptions in 2020.
- Only 7 percent of the world’s population had internet access in the early 2000s, yet that’s increased to more than half of the world today
- Only half of Americans had broadband access in the early 2000s, but that’s grown to over 90 percent of Americans today
- In 2004, only 1 million people used MySpace, yet over 2.5 billion people use Facebook today
The technology industry is vast, and it’s impacted you, your education, and your daily life.
Tech has influenced many companies and many industries
It probably wouldn’t surprise you to know that many industries have gone digital in the past 20 years. Some industries have adapted to tech growth, but others haven’t as much. The technology sector unsurprisingly comes out on top as the most digital industry in the world.
However, finance, media, and various professional services are close behind it. The financial services industry is critical to the global economy and cities like New York, London, and Chicago. The financial services industry has adapted to technology fast, especially hedge funds, stockbrokers, and foreign exchange traders.
Companies now need to invest in technology to grow as a business. That means buying software, hardware, data, and IT services to fill gaps in the business. The industries that have least adapted to tech are agriculture, hospitality, and construction. On the other hand, wholesale trade, advanced manufacturing, oil and gas, and utilities have seen very high digitalization in the last 15 years.
As the world becomes more digital in the next decade, you should expect more industries to become more digitized before 2030. In addition, the growth of AI will undoubtedly change many industries going forward.
5 tech industries that have boomed in the past decade
- FinTech – Financial services require robust technology to operate on a global level. It doesn’t matter whether the company works in insurance or trades derivatives — they will need robust tech systems. As a result, experts believe the FinTech market to be worth $309 billion by 2022.
- BioTech – Experts believe the BioTech industry will be worth a staggering $2.44 trillion by 2028. In the modern world, stem-cell treatments and gene therapies are essential. Subsequently, the BioTech industry is booming, and that shows zero signs of stopping anytime soon.
- GreenTech – The world is becoming more conscious of its carbon footprint, and the GreenTech industry is seeing enormous benefits from that. In 2019, the global GreenTech industry was worth $8.79 billion. And experts believe that will grow to almost $50 billion by 2027. As the world continues to turn to greener alternatives, the industry will continue to grow.
- Artificial Intelligence – AI is no longer science fiction; it’s now a part of reality. Experts predict the AI industry will be worth $9 billion by 2025. Companies in various industries are now using AI for financial services, marketing insights, and even manufacturing. The industry has boomed in recent years, but its best years are still to come!
- Security – Security is booming and will continue to boom in the coming years. The industry is fantastic for those looking to get into tech sales because there are so many software products to sell. Economists predict the cybersecurity industry will be worth a staggering $300 billion by 2024.
These industries are excellent if you’re looking to get into tech sales. They’re all growing and will play an important role in the future economy. In turn, you’ll enjoy excellent career growth and growing commission as time goes on.
The types of roles in tech
There’s a misconception in the world that the tech industry is all coding jobs. In fact, that couldn’t be more wrong. The tech industry has a vast amount of roles for people with various skill-sets and interests. You could land roles in the following jobs:
- Marketing – it doesn’t matter what your industry is — you will need a robust marketing strategy. The tech industry often has innovative marketing principles, and jobs can be highly lucrative.
- Tech sales – Tech sales is one of the most lucrative careers for graduates. You can easily make six figures in the years after you graduate with lots of hard work and dedication. Also, the commission is superb.
- HR – The tech industry needs fantastic HR staff to recruit the most innovative minds and the most incredible salespeople. You’ll hire some of the world’s greatest minds, and perhaps even the next Elon Musk?
- Accounting & finance – The tech industry is the fastest-growing industry worldwide. So, you’ll be in charge of lots of finance when you work in the accounting and finance department of a tech company.
- General management – The tech industry is moving fast, and management roles come fast for those working hard and producing results. Suppose you’re looking for a fast promotion after graduation? Then, the tech industry is the best option for you.
- Operations – Operations is a critical part of any business, and the tech industry is no different. You can work with various large tech companies and learn the ins and outs of operations.
Other decent options for a tech career:
1 – User interface designer
A user interface designer has a very important job in a tech company. They will establish the look of the software’s interface before companies sell it to customers. You’ll probably know how annoying poor interfaces are on websites and apps? This job helps to stop poor interface.
The national average salary for UI designers – $73,565
2 – Growth hacker
A growth hacker is largely part of the marketing team and plays a critical role in acquisition. For example, growth hackers will combine business development, marketing, and technology with a sharp focus on building a customer base. It’s a role that requires flexibility, but it’s an excellent path in the tech industry
The national average salary for a growth hacker – $87,000
3 – Data analyst
A data analyst is an excellent option if you’re looking to break into the tech industry. If you’re interested in data set analysis and trend spotting, this role could be ideal for you. You’ll need strong maths knowledge and the ability to collect large amounts of data.
The national average salary for a data analyst – $76,000
4 – Software developer
If you’re looking to get into the tech industry, a software developer is one of the greatest options. There are so many software developer jobs throughout tech and the growth of mobile apps continues to fuel this. Moreover, if you have a degree in software development, mathematics, or engineering, this could be a great option.
The national average salary for a software developer – $87,000
5 – SEO specialist
Do you remember the days before Google? Pretty rough, right? Google is very important for companies today because companies need to rank on Google. SEO experts have to research keywords, analyze websites, and create SEO strategies for the company. Every tech company needs their own SEO specialist!
The national average salary for SEO specialists – $40,000
These are just a few options, but there are so many more. One of the best options for people without any specified skill is tech sales. It’s possible to learn this skill via an online course, and you will enjoy excellent benefits, such as great pay, work-life balance, and transferable skills.
The best option for a career in tech – tech sales
If you’re looking for the benefits of joining the tech industry, we’re pleased to let you know they’re so many! As with any fast-growing industry, the opportunities are endless, and your career growth is unlimited. Here are some of the best benefits:
1 – Tremendous starting pay
When you’ve just graduated from college, you’re probably ready to start earning big bucks. Thankfully, the tech industry is fantastic for making excellent money. But, did you know that even basic entry-level tech workers earn an average of $63,000 yearly?
A tech sales career is the best way to make fast cash, honestly. You will learn superb transferable skills and learn B2B and B2C sales in the process. Many graduates start their tech sales career earning between $60,000 to $80,000 yearly. Can you make six figures? Many tech sales workers in America earn over six figures, and so can you – if you want!
2 – Flexibility
The tech industry is one of the most flexible industries on the planet. You can move around the industry and join various companies in numerous sectors. Some of the top tech sectors you can work in include IT, AI, BioTech, and marine technology.
Furthermore, the tech space offers employees a flexible schedule that breaks the normal 9-5 routine of everyday life. Do you have kids? Do you have a schedule that you need to workaround? If so, you’ll love the freedom and flexibility of the tech industry.
3 – A genuinely global career
The tech industry can take you anywhere. Did you know that tech is massive in China, Korea, and Japan? Let’s not forget Europe, Australia, and New Zealand. The United States only accounts for around 33 percent of the global tech industry.
The rest is worldwide, and there’s nothing stopping you from traveling and working in tech. Nonetheless, if you’re looking to stay in North America, why not head to tech hubs like Seattle, Ottawa, Boston, NYC, Miami, Vancouver, or Toronto? These cities have booming tech industries!
Bonus benefits of working in tech
- Excellent connections with technology companies at the forefront of change.
- Transferable skills that can be used throughout your career in any field.
- True diversity in the industry that is globally connected and welcomes everyone who is capable.
- A truly bright future in the industry that is changing the world as we know it. Work in an industry that will shape the 21st century – be part of the future.
Break into tech sales today
By following these tips:
- Study the company
- Highlight your transferable skills
- Practice and rehearse
- Show you’re interested in learning about the industry
- Research the industry lingo
Learn more about the tech industry
If you’re thinking about joining the tech industry and having an excellent tech sales career, you’re at the right place. You don’t need industry knowledge, relevant experience, and connections because we can help you.
Starting a tech sales career doesn’t have to be challenging, and we will teach you what to expect. We can help anyone get into tech through tech sales with zero tech education beforehand.
Feel free to contact us to learn more and if you’re interested in switching your career into tech. Check out our Career Change Guide, the ultimate resource guide that can help you swap into tech sales at an advantage.