Digital Technology Salary Insights

GEOPOLITICAL TENSIONS RENDER MARKET GROWTH SLOW BUT STEADY

China’s digital technology market saw steady growth in 2019, albeit at a slower pace than the last two years owing to a variety of geopolitical tensions and economic pressures in the region. However, it is expected to gather pace once again in 2020. Interestingly, the US-China trade war and the resulting challenges faced by domestic businesses could actually result in more opportunities for the tech market.

DIGITAL TRANSFORMATION OPENS OPPORTUNITIES FOR EMERGING TECH

More than ever before, businesses are looking at technology to address operating inefficiencies as well as create new ways to reach and retain their customers. This renewed focus on digital transformation is anticipated to create a strong hiring shift towards candidates with expertise in emerging technologies like robotic process automation (RPA), IoT, AI, Blockchain and Machine Learning. The same shift will lead to higher salary expectations as well, and employers may need to prepare extra budget when setting up or investing in an emerging technologies team.

Taking a broader look, we have observed increased investment in digital tech projects across a range of traditional industries in an effort to increase innovation. This can be seen in sectors like payments, agriculture, transport, food and hospitality which were not tech-driven previously. But with the rise of IoT and AI, there has been a significant surge in emerging-tech related jobs that will undoubtedly provide exciting opportunities and projects in these areas.

RETAIL INDUSTRY UNDERGOES MAJOR SHIFT TO OMNI-CHANNEL RETAIL

Digitalisation has led to a massive transformation in China’s retail industry. Retailers are reconsidering the way they go to market and the impact of customer experience on attracting and retaining shoppers. Omni-channel retail has thus become a top priority for most businesses as it presents opportunities to be competitive, capture new market opportunities and grow their top line.

Alongside integrating the traditional functions and features of retail into technology, there has been an increase in strategic conversations within the industry regarding business direction and how IT architecture can be changed to support future growth. There has also been more exploration of how the omni-channel model relates to a retailer’s evolving processes, which has led to a focus on tracking and streamlining operations through technology.

These trends are likely to elevate salaries and create a high demand for candidates with experience in omni-channel retail, e-commerce, e-payments and other related technologies.