How the world’s top IT professionals have become the world leaders in the world of cloud computing
In a global race to be the best, the IT industry has become the most highly paid industry in the history of the world.
That’s according to a new report from The New York Times, which estimates that, with the exception of software and hardware, IT spending in Australia has more than doubled since 2010.
The Times said IT spending was the second largest source of revenue in the country’s gross domestic product (GDP), after manufacturing.
The report says that Australian IT spending rose from $9.4 billion in 2010 to $21.1 billion in 2019, an increase of $6.6 billion.
IT spending is now the second-largest source of spending in the UK, ahead of mining and oil and gas.
But the Times report says there is a disconnect between the IT sector’s rise and its spending, with “the vast majority” of IT spending not being spent on infrastructure, which is needed to deliver the benefits IT-based solutions deliver.
This includes IT infrastructure and software.
“If we don’t invest in infrastructure,” the report says, “we are effectively losing the world.”
Here are the top 10 IT companies in the report.
Oracle, Australia’s largest software and cloud provider 2.
IBM, Australia-based technology company 3.
Hewlett Packard Enterprise, world’s largest enterprise software and services company 4.
Oracle UK, the UK’s largest technology company 5.
IBM UK, a global technology company, with operations in the United Kingdom, Germany, Canada, India, South Africa and Singapore 6.
Google, the world leader in search and data services 7.
SAP, the global leader in data science and artificial intelligence software 8.
SAP UK, UK’s global technology leader 9.
Hewell Packard, the British company that makes HP’s personal and professional computers 10.
Oracle Australia, the country with the second highest number of IT jobs in Australia Source: The New Times / Reuters 3rd row, top row: Hewlett-Packard Enterprise logo, IBM logo, and SAP logo; left to right: IBM, Oracle, Hewlett and SAP.
Photo: Reuters The IT industry’s global reach was set to reach $1 trillion in 2019.
But despite an increase in IT spending, the report suggests the IT sectors economic output has shrunk over the last three years, partly due to the impact of a severe financial crisis.
The financial crisis and economic downturn hit the IT world hard.
“The impact of this crisis on IT investment was significant,” the study says.
“By 2020, it was estimated that about half of the global IT workforce would have left the IT field altogether.”
Australia has the highest IT-sector unemployment rate in the developed world.
The IT sector employs more than 10 million people and employs some 70 per cent of the countrys workforce, with over half of them in the software and software services industry.
However, the number of software developers is growing faster than the number who hold IT jobs.
The study also says that Australia’s IT sector has been “moved offshore” by the global financial crisis, which was driven by the financial sector’s ability to raise billions of dollars through loans and securities deals.
The industry is now highly profitable but the impact on the economy has been less than anticipated, with jobs lost, particularly in IT-related services, as the IT business’s share of the Australian economy declined.
The impact of the financial crisis has been the largest driver of the IT workforce’s departure, with around 30 per cent leaving the IT service sector.
The number of people who have left Australia’s workforce has also been higher than the overall IT population.
“A lot of these people have been moved offshore and out of the UK and into other countries,” one industry insider told the Times.
“It’s an industry that’s in very bad shape, and the economy is moving into the future.”
In a survey by the Royal Australian Institute of Technology (RATI) earlier this year, nearly one in three Australians aged between 25 and 34 did not consider themselves tech-savvy.
However the IT jobs market has been growing faster in the past few years.
The Australian Bureau of Statistics (ABS) data suggests the economy grew by 0.9 per cent in the 12 months to the end of September 2019, the highest rate since November 2013.
The ABI report says the IT services industry employs more Australians than any other industry, accounting for about $1.9 trillion of the economy.
But, the Australian Bureau said the IT job market had seen a “massive” decline in recent years.
“In the last year alone, the economy lost $9 billion in productivity,” the ABS said in its report.
“This loss is not reflected in the growth in jobs or GDP.
Instead, it has been driven by a sharp decline in the value of the tradable asset market, and a corresponding increase in the debt burden.
The net result is that Australia is becoming a more unaff