Though it might seem a cliché, the fact is that there are still over 50,000 jobs available for data scientists in India. We are sure you might have read tons of stats about the opportunities – lucrative ones – for data scientists/analysts in India but the latest analyses have identified individual industries or sectors that seem to be most keen on hiring qualified data scientists.
Firstly, the demand and supply factors in the analytics job market have been inversely proportional. Meaning, there has been more demands in the market than available talent currently (close to 2x). Despite being a 12% contributor to data science jobs in the world, we have been still failing in filling up the vacancies for data scientists in companies around the country.
This does not end here. Industry veterans have more insights to share on the demand supply gap in analytics. Check out a panel discussion on this, which was conducted by Sarita Digumarti, the COO of Jigsaw Academy and is full of resourceful information.
A report from Gartner also points out the fact that there are over a million registered companies in the country, out of which over 75% of them will invest or already have invested in data science and machine learning. Besides, the Banking and Financial Services industry (BFSI) create the most job opportunities for aspirants, numbering close to 44%.
To help you understand the demand from each industry better, here’s a breakdown of them, the number of jobs they would create and their purpose of requirement.
The estimate for the number of opportunities in healthcare is 15,000 mainly because of the increase in the amount of clinical data being generated. With Electronic Health Records (EHRs) gaining commendable momentum in the country and with the government bringing out new policies on its implementation and security, the need to analyse complex clinical data is increasingly becoming inevitable, in turn increasing the demand for data sientists.
We’ve read about autonomous vehicles in the US with major market players working on prototypes. We’ve even seen a couple of videos on them, too. However, back in our country, there are several startups working on this technology as well. Establishments like Flux Auto, Fisheyebox, Swaayatt Robots, Auro Robotics and more are working on self-driving cars. Like you already know, self-driving cars are built on complex architecture of data collection, processing, decision making and other crucial elements. The involvement of such complexities call for equally efficient data handlers (analysts and scientists) to optimize the operations of cars.
Considered as the backbone of Indian economy, we are yet to completely leverage the full potential of technology like the Internet of Things and data science to improve agriculture and harvests. With smart farming being implemented across multiple states (and with the government being a key role in its implementation), technologies like machine learning, data science and artificial intelligence are being incorporated to predict forecasting of crops, enhance farm output, optimize pricing and more. This is leading to the requirement of pro data scientists working at the backend.
Apart from these industries, cyber security, genomics and aviation are the ones contributing the growing demand for data scientists with 5000, 2000 and 4500 opportunities respectively.
With information about the vacancies in hand, what becomes inevitable is the ways to make ourselves the best fit for these roles. And we have to do this by understanding the roles, tools and skill sets. The report reveals that the following skills are essential to land a dream job in data science:
- Big data analytics
- Artificial Intelligence
- Machine Learning
As far as mastery over tools in the industry are concerned, Python is the most in-demand tool in the country, with startups and companies looking for people with sound hands on experience. There can’t be a better time to shift to a more lucrative career path with analytics. If you’re serious about a career shift, get started with analytics today.