Tech Industry Statistics
Technology is a big part of our lives, so it’s not surprising that we should be interested in some of the statistics surrounding this industry. Whether it’s the growth rate of the tech industry or the amount of women in the field, there are a lot of different aspects to look at when it comes to the stats of the industry.
Black Americans make up 7% of the U.S. workforce
African Americans have been at the forefront of many moments in labor activism. From the 1881 Atlanta Washerwoman Strike to the 1955-6 Montgomery Bus Boycott, to the 1963 March on Washington for Jobs and Freedom, Black workers have been on the forefront of change. However, they also face many challenges at work.
While the number of Black employees in the workforce has increased over the years, they continue to face persistent employment barriers. Low wages, lack of support from supervisors, and other workplace behaviors can make it difficult for Blacks to advance.
Blacks are overrepresented in jobs that pay less than their white counterparts. More than one-third of Black workers are in low-wage occupational groups. Another 30 percent of Black employees do not receive much or any support for advancement.
Female students’ presence in computer science was much lower in 1998 than in 1998
When looking at female students’ presence in computer science, 1998 may have been a step backwards. In fact, a recent study shows the number of women studying computer science is now less than in the eighties. This could be attributed to the lack of technological skills among women. There’s a shortage of skilled professionals in many fields, and the demand for skilled technology professionals is expected to grow in the future. However, the education system has yet to find a way to increase female participation in the field.
A nine year study of female students at an undergraduate institution found that the attrition rate was statistically significant. During the nine year study period, the average female student attrition rate was 45% for each entering cohort. For males, the attrition rate was a little more modest, averaging 30%.
Data center spending on AI processors will grow by over 4x by 2025
Data center spending on AI processors will more than double over the next four years. That’s up from an expected $5 billion investment in the next few years. This growth is expected to take the industry to $22 billion by 2025.
Artificial Intelligence has been around for a long time, but it’s only recently begun to enter the mainstream. As the industry continues to evolve, the demand for silicon will rise. In the past, processors have been used for general PC tasks, but newer specialized processors offer the highest performance for AI applications.
In addition to a boost in overall performance, the increased density of memory has been a major driver of AI’s increased productivity. This has led to a variety of applications, from self driving cars to smart speakers.
Gender discrimination in the workplace
Gender discrimination in the workplace can be difficult to eradicate. Even in an industry as progressive as technology, it’s important to create gender-balanced work environments. This includes creating a mentorship program to help women develop their skills.
In the UK, half of the women interviewed in a survey said they had experienced some form of discrimination while working in the industry. Moreover, one-third of them believed their company pays men and women unequally.
A recent class-action lawsuit against Google accused the search giant of paying women less than men. The suit was filed by three women.
Women are disproportionately represented in the tech workforce. According to an online survey of 500 UK adults, 39% of respondents believe that gender bias is a significant barrier to tech job access.
Growth rate of the tech industry
In the past decade, the tech industry has been one of the biggest contributors to the nation’s economic growth. The sector is estimated to reach $5 trillion in market value in 2021. However, the industry has yet to decentralize, despite the many new innovations and technologies that are driving the growth.
As technology continues to advance, the sector will experience massive growth in coming years. By 2022, experts forecast that 178,000 new tech jobs will be created. This includes an estimated 40,000 positions in the cloud computing sector and 38,000 positions in the software industry.
The industry’s total growth rate will average five percent over the next several years. However, this doesn’t include some of the most dynamic areas of the industry, which are expected to grow faster.