Two HUGE problems and ONE Solution!
A CNBC report predicts that the software developer shortage in 2022 will be critical. In 2021, 918,000 IT jobs remained unfilled. It was noted in another report that by 2030, almost 22% more software job vacancies would be available.
There is a severe shortage of software professionals and developers today, and most software systems are outdated. Technology is changing so rapidly that few people can keep up.
The demand for software developers far exceeds the supply, and the average software developer's salary is rising. This shortage is only going to get worse, as more and more companies move to digital operations and rely on software to run their businesses.
The number of software jobs has increased by 34% since 2010, but the number of people with the skills to fill those jobs has only increased by 11%. The majority of software developers are over the age of 40, and few young people are entering the field. This is a recipe for disaster, as the number of people retiring from the software field will soon exceed the number of people entering it.
Let’s have a closer at both of these problems that our software development sector is currently facing.
Problem 1: Severe Shortage of Software Professionals & Developers
Globally, there will be a shortage of 2.4 million full-time developers by 2025, which translates to 90.8% capacity in 2021 and 84.9% capacity in 2025.
The main reason for the shortage is the increasing demand for software development services. This demand is being driven by the growth of the internet, mobile applications, and cloud computing. As these industries continue to grow, they will need more software developers to create and maintain their applications and systems.
Impact on Qualified developers’ Salaries
The problem is compounded by the fact that software development is a highly specialized field requiring years of training and experience. As a result, the pool of qualified workers is relatively small compared to the demand. The severe shortage of software professionals is having a major impact on the industry, causing project delays and driving up costs.
This shortage has resulted in higher salaries and better benefits for software developers. Companies are willing to pay more for talented developers because they are in high demand. This shortage is expected to continue for the foreseeable future.
Problem 2: Software Systems with Outdated Technology
It has been shown in a study conducted by the Ponemon Institute that nearly 70% of workers believe that some of their organization's existing security solutions are outdated and ineffective.
Software systems with outdated technology can present a number of problems for the development industry. For example, these systems can be difficult to maintain and update, which can lead to increased costs. U.S. businesses waste up to $1.8 billion each year due to outdated technology, according to a 2016 study.
Additionally, outdated technology can make it difficult to integrate new features or functionality, which can limit the potential of a software system. Finally, outdated technology can also make it difficult to support new users or devices, which can reduce the overall usability of a system.
What’s the Solution? — No-code Development
In 2024, Gartner predicts that over 65% of application development activities will be low-code or no-code. No-code development can help resolve the issue of the shortage of software professionals and developers by allowing people with no coding experience to develop software applications.
According to Forrester’s report, 84% of enterprises have turned toward low-code/no-code for their ability to reduce strain on IT resources, increase speed-to-market, and involve the business in digital asset development.
Source: Zapier’s No-code Report
This can help to free up resources and manpower that would otherwise be used to train new coding professionals. In addition, no-code development can help to create software applications more quickly and efficiently, which can help to reduce the backlog of outdated technology.
Bottom Line
The global shortage of software professionals has been exacerbated by the COVID-19 pandemic and the resulting economic downturn. The pandemic has also highlighted the need for organizations to modernize their software systems, which are often based on outdated technology.
No-code development can help organizations resolve both of these issues. No-code development platforms enable organizations to build sophisticated software applications without the need for coding skills. This means that organizations can resolve the shortage of software professionals by using no-code development platforms to build the applications they need.