What Is The Tech Industry - And How Does Sales Fit In?

The tech industry is one of the most diverse industries for graduates. Yet, when many people think of the tech industry — they think of coding, Silicon Valley, and astonishing company valuations. Others also believe that the tech industry is male-dominated and soulless. Both beliefs are wrong in 2021.

The tech industry has become one of America’s most multicultural, aspirational, and most successful industries. The Bank of America believes the tech industry to be worth $9.1 trillion. Companies like Apple, Facebook, Amazon, Google, and Alphabet are collectively worth $7.5 trillion.

Tech is no longer about geeky coding from bedrooms or building the new Facebook. Instead, it is now an incredibly broad industry with huge sectors. These include biotechnology, environmental technology, green technology, to name a few.

Graduates are offered the best opportunities in tech. Through tech sales, graduates have the opportunity to help bring important technology to the market. Moreover, tech sales who are graduates can earn up to six figures post-graduation.

If you work in technology and tech sales — you’ll enjoy flexibility, career opportunities, diversity, financial opportunity, and transferable skills to every industry.

Here are some of the most popular tech industries

RS components found there are over 214 global unicorn technology companies with a value of over $1 billion. Therefore, there are many massive companies in the tech sector, which means plenty of potential for career success. Here are the most significant sectors in the tech industry:

1 - E-Commerce

Economists valued the global e-commerce industry at $9.09 trillion in 2019. The world’s biggest e-commerce company — this won’t surprise you — is Amazon. With a staggering market cap of $1.63 trillion, the company dominates the global e-commerce industry. Here are some of the other biggest e-commerce companies ranked by their revenue:

• JD.com ($82.2 billion)
• Alibaba ($56.15 billion)
• Suning.com ($38.06 billion)
• Rakuten ($11.6 billion)

The e-commerce sector has various tech sales roles, and it’s an excellent place to begin your technology career.

2 - Internet Software & Services

Internet software and services continue to be one of the world’s most significant technology sectors. You’re probably reading this from a computer, tablet, or mobile phone. Ultimately, you are using software to communicate and conduct research. Some of the world’s biggest software companies include Microsoft, Oracle, IBM, and SAP. And here are some other massive software companies:

• Adobe
• VMware Inc
• Intuit Inc
• Square Inc
• Salesforce
• Norton LifeLock
• Autodesk

Thanks to the incredible scale of the software sector, you can earn great money selling software. The average U.S. salary for tech sales in the software sector is $93,539 per year. That will increase as you learn about the industry and grow as a salesperson.

3 - Fintech

Financial services have always been an excellent career for graduates, or people of any age. However, the introduction of technology has impacted the financial services sector and created the FinTech industry. The phrase FinTech” refers to any company that uses technology to enhance its financial services.

You may not know there are over 41 venture capitalist-backed Fintech unicorns. These fintech companies are worth a whopping total of $1.54 billion. Here are some of the largest FinTech companies:

• Stripe
• Klarna
• Kraken
• Chime
• Plaid
• Robinhood

Financial services will always be an essential part of the world economy. Major cities — including London, Tokyo, NYC, and Singapore — rely on robust financial services. They also need adequate technology to grow and prosper. This is why FinTech is an excellent choice if you want to start a tech sales career. Tons of commission opportunities and a large scope to help you build your career.

4 - Consumer Electronics

Right now, you’re using consumer electronics to read this article. Consumer electronics are an essential part of the global economy, and they have been for decades. Moreover, consumer electronics remains one of the best options for anyone joining the tech sector because it’s a vast industry.

For example, the consumer electronics sector produces over 10 trillion Japanese Yen for Japan’s economy. Japan is home to various huge consumer electronics companies, such as Sony, Toshiba, and Panasonic. The consumer electronics industry is also enormous in China, Taiwan, and South Korea. Therefore, the scope for a global career is considerable.

We haven’t even mentioned western consumer electronics companies yet. Just think of Apple, Microsoft, Amazon, and so many more. Economists valued the U.S. consumer electronics industry at $301 billion before the pandemic. You can only imagine how much earning potential there is!

5 - Telecommunications

The telecommunications sector makes global communication possible. Economists value the U.S telecoms sector at $278.8 billion in 2021. But the global telecommunications industry is worth over $1 trillion. Therefore, it’s an excellent sector for anyone looking to get into the technology sector.The biggest telecommunications companies in the world include:

• AT&T ($171.7 billion)
• Verizon Communications ($128.2 billion)
• Deutsche Telekom ($112.3 billion)
• China Mobile ($116.8 billion)
• Nippon Telegraph and Telephone ($107.1 billion)

This industry is constantly evolving and growing as such, it is an excellent place to begin a career in tech sales.

Nonetheless, these are just some of the excellent options available to people looking for a tech career. Here are some other brilliant sectors.

• EdTech - The education industry has seen rampant change thanks to the introduction of technology. For example, the introduction of online courses has enabled people to learn more skills on the internet. As a result, this has been priceless during the painful COVID-19 pandemic. Economists value the global EdTech market at $106 billion.

• FoodTech - Technology has transformed the food industry in recent years. Experts expect the FoodTech industry to be worth over $342 billion by 2027. If you’re looking for a modern, exciting, and vibrant place to start your tech sales career — FoodTech is an excellent place to start.

• LegalTech - The legal industry has always been massive. It’s a huge sector in London, Chicago, and NYC. However, technology is starting to revitalize the old industry. There are various career options in this space, but tech sales in the legal tech sector remains a great option.

Why tech sales is an excellent place to start your career

There are various reasons why a tech sales career is a fantastic career. Here are just some reasons:

• You can earn excellent money - The tech industry is the world’s fastest-growing industry. As a result, you can earn a massive commission in tech sales, far better than many sales careers.
• You’ll learn the sales process - Learning the sales process is a fantastic skill to know. In addition, you’ll learn soft skills and how to sell costly technology products.
• The tech industry is vast - The technology industry is the future of the world’s economy. Therefore, you can switch around jobs until you find the perfect sector for you. The opportunities are never-ending in tech sales.

Furthermore, the tech industry offers continual growth, access to incredible technology insights, and endless transferable skills.

Join Uvaro and find out more about the technology industry

Joining the technology industry is a career decision that pays dividends in your future. And Uvaro's online courses help give you the critical skills needed to succeed in the tech space.

Our graduates also enjoy expert tech sales career guidance that helps you land your dream job in the technology industry. Now is the best time to begin your tech sales career. Join Now, and start your career in tech!