Data Science is critical to the growth of businesses, helping to make key decisions to boost revenue and performance. As a result, the demand for Data Science professionals has seen a rapid increase in recent years, with plenty of room for career growth for those in the industry.
Data from LinkedIn suggests Data Science career prospects in the US alone are growing at an annual rate of 35%. This demand is expected to rise in the future, too, making Data Science careers significantly more lucrative.
Our own Tech Industry Report highlights that 35% of data professionals are seeking new career opportunities, a figure significantly higher than the other industries surveyed. The findings reveal not only a growing demand for skilled Data Scientists, but also an increasing demand for experienced candidates looking to transition into Data Science.
Career paths in Data Science
In 2019, it was estimated that 2.7 million new Data Science and Analytics jobs would be created by 2020 in the Asia-Pacific region and that by 2026, the market would generate revenue of $48.0 billion.
An increasing number of organizations are leveraging Data Analysis to identify new opportunities for growth and operational efficiency. Experienced Data Scientists are in high demand not only in the Technology sectors, but in other major industries such as Pharma, FMCG, Biometrics and many others.
The Biometrics sector in particular is expected to grow at a CAGR of 15.2% by 2027 as the demand for customer-facing applications and data security increases exponentially.
Machine Learning (ML) has developed to become an independent discipline and is predicted to grow from $21.17 billion in 2022 to $209.91 billion by 2029. As a result of this immense growth and the rapid changes in technology, ML professionals are highly sought after. With ever-changing platforms and frameworks, adaptability is key as this market is never stagnant and provides a constant stream of new opportunities.
If you are ready to take the next step in your Data Science career, there are many roles and opportunities available. Whether you need to develop new skills or understand how to repurpose your existing skillset, it is worth investing time to research which type role and industry might be most suitable for your experience and career goals. An increasing number of organizations are open to hiring Data Science professionals from other industries as they recognize the current talent pool is small. and candidates might possess transferable skills that are in high demand.
Below is a list of the most in-demand Data Science roles:
This is one of the most in-demand careers currently, with employment in this field is expected to grow by 36% from 2021 to 2031. Data Scientists are needed in just about every sector, from Biotech to Banking, Pharma to Healthcare, and the transferable skills experienced professionals possess means their skillsets are applicable across these sectors.
In 2020, Data Engineering was the fastest growing tech job as these professionals fill an integral role within data-driven organizations. If there is data to process, Data Engineers will be in demand and as data-driven decisions are becoming increasingly relied upon. These skills are also transferable across multiple sectors and industries.
The U.S. Bureau of Labor Statistics expects that the number of employment opportunities for Data Analysts will grow by 23% between 2021 and 2031. This far exceeds the average 5% growth predicted for other jobs.
As businesses focus more on the storing and organization of data, and as data compliance laws become more prevalent, the demand for Data Architects grows exponentially. The BLS predicts that employment of database professionals will increase by 8% from 2020 to 2030.
Business Intelligence Analysts
Business Intelligence (BI) roles have gained prominence in the last five years and the demand for Business Intelligence Analysts has outstripped the supply. The BI market is expected to grow by 11% from 2019 to 2029.
Machine Learning Engineers
With the Machine Learning industry experiencing such rapid growth, ML Engineers are always in demand, especially in the Manufacturing sector where career opportunities are vast.
Find Data Science career opportunities with Glocomms
If you want to explore a new career path across Data Science, Glocomms have a range of available roles and opportunities that match your experience and skills.