Staffing Industry Analysts recently published its IT Staffing Growth Assessment: 2020 Update. The comprehensive 112-page annual report provides in-depth analysis of the rapidly evolving global IT staffing market. The report is divided into 11 sections, as shown in the table of contents below. SIA corporate members may access the full report here.
As readers will see, immense changes have spread across a broad range of subjects within the IT staffing segment since our previous update. The overriding theme in 2019 was continued strong demand, somewhat offset by a constrained supply of labor for critical specialized IT skillsets. However, 2020 is proving to be much richer in nuance. There has been a great reshuffle in terms of where short and longer-term opportunities reside. We see this, for example, in new CIO priorities, shifting worker preferences and the ways in which various industries have been impacted by the pandemic.
Specific to industry impact, US IT staffing is in an enviable position, as illustrated below, tech/telecom, financial services and healthcare together comprised to make up approximately 60% of the IT temporary staffing market in 2019. We expect this to expand in 2020 as each of these three key industries have proven to be significantly more stable than those directly hit by lockdowns. Though parts of the healthcare industry, which represents 11% of the US IT staffing sector according to our US IT Staffing & Solutions Benchmarking Survey, have been substantially affected by the pandemic, the areas most conducive to IT staffing have held up better, such as large hospitals and payers (health insurers).
IT staffing revenue by client industry, 2019
The composition of industries verticals served by IT staffing is just one of several key drivers highlighted in the report explaining why we forecast the segment to be among the most resilient in staffing. We note SIA will publish in July a special interim update to its US Staffing Industry Forecast, which will include an update to our US IT staffing forecast. For information on how to access the IT Staffing Growth Assessment: 2020 Update report, please contact our member services team.
