The industry experienced an average growth rate of 6% from June through November of 2022, which still presents promising future prospects.
Over the past few years, Information and Communications Technology (ICT) sector of Pakistan has experienced the fastest growth. The industry’s growth between 2019 and 2022 alone was a startling 150 percent, which is more than any other industry in the nation during this time.
The industry experienced an average growth rate of 6% from June through November of 2022, which still presents promising future prospects.
The abundance of IT professionals, educational institutions that offer programmes designed for contemporary markets, and local organisations that foster an environment that is more favourable for growth are the factors driving the growth of IT professionals in the nation.
According to statistics, there are currently more than 2,000 IT firms in the nation, and more than 300,000 IT professionals work in fields like web design, data science, software engineering, and other technology-related fields.
Nearly every aspect of business is being revolutionised on a global scale by technology. The majority of countries look to nations like Pakistan to help with the provision of many solutions, such as complete platforms for operations including eCommerce, data analysis, automation, and information dissemination. The same can be said for other fields like design, gaming, and the creation of mobile applications.
The first local business in Silicon Valley to purchase a chip verification start-up is Jaffer Business Systems (JBS).
In order to meet the rising demand for verification engineers, the US-based company Impare was established with the aim of establishing a verification centre of excellence in Pakistan and training local students to work with leading US businesses. This emphasises the opportunities and room for growth for graduate students and professionals in these fields.
In the next five years, chip verification is anticipated to grow to a $16 billion industry. It is a potential market for students who are looking to explore new opportunities in fields that are extremely in demand right now with sustainable development in the future due to the region’s high demand and dearth of skilled labour.
According to JBS CEO Veqarul Islam, “Our start-up acquisition strategy resonates around our “Purpose” to facilitate a wider, stronger, entrepreneurial network in the nation — which is forward-thinking, inventive, and blends well with new ways of driving our economy. He outlined a goal that is all-encompassing and increases the opportunities available to young people in the nation.
These kinds of advancements portend the future of ICT sector of Pakistan. It serves as a beacon for where the technology exports sector is going and how it will revolutionise not only the economy but also the employment landscape for young people in the nation, who are in fact the forefront of change and well-positioned to take the country to new heights in the future.