This year is coming to an end so it would be worthwhile to have a look at a summary of what happened in recent years and how it affected the IT Bootcamp industry in 2019.
So, how does it look like?
IT Bootcamps have been on the market for almost a decade and the demand for programming courses is still growing. This is since the market constantly needs new employees to be able to continue its development, whether in the field of new technologies or for practical purposes to make life easier for each of us as well as access to information and services.
Empirica has released a report describing IT bootcamps as an affordable alternative to university studies. It was also pointed out that, compared to university curricula, such training is more flexible in terms of teaching programs and tailored to market needs. They are also much more accessible to people who do not have the technical skills, while candidates for studies are selected during the recruitment process and not everyone is eligible for such studies.
The number of IT bootcamps is growing every year, as is the number of people interested in such courses. According to the Course Report in the United States alone, there was already over 110 full-time coding bootcamps in 2018 and their growth is expected to be another 49% in the year 2019. The same applies to graduates, whose growth from 15,429 students rose to 23,043 in 2019. Interestingly, online coding bootcamps grew by 171% from 2,022 students in 2018 to 5,519 in 2019. Moreover estimates the growth rate between 2018 and 2019 is 31% which when compared to for example 2013 made a huge growth of 705%. That’s what you call development!
Demand is not decreasing
The changes in the IT Bootcamp market can be seen mainly in terms of the number of schools and their flexibility. People interested in courses for programmers have a lot of convenient options to choose from, starting with a comfortable schedule of classes (evening, weekend, online), a wide selection of courses perfectly suited to market requirements, availability of courses in many cities and flexible payment options for the course.
According to the Bigram study, 86% of the surveyed companies notice a shortage of candidates for the IT area, which is the main threat to the implementation of the digitalisation strategy, so the demand for people who know how to encode remains unchanged.
New opportunities are emerging
According to Gartner’s research, at least by 2020, as much as 80% of projects related to Artificial Intelligence will still be unavailable to standard programmers. There is no denying that the demand for AI is already huge, but the problem is still the lack of specialists who can implement solutions in this field. Gartner estimates that there are currently about 300,000 of them worldwide and that there are already at least one million vacancies in this field.
There is no denying that development in the IT industry is also causing the creation of new branches of the IT industry and new jobs, a few years ago no one has ever heard of positions such as Blockchain Engineer or AI Engineer.
Moreover, when certain programmers already know of, for example, programming in Java, they can use IT bootcamps to train in Python, which will not only broaden their knowledge but also allow them to develop their professional career.
Reskilling or upskilling? IT Bootcamp will help!
There is no denying that, due to changes in the job market, the demand for particular skills is also changing. According to The McKinsey Global Institute, 375 ml of people by 2030 will have to change their job and acquire new skills in order not to fall out of the labour market. Therefore, it is worth deliberately considering the good management of own human resources – creating programs: reskilling and upskilling.
In 2019 IT Bootcamp is mainly engaged in the training of people who want to reskill or upskill to be competitive in the market due to certain disappearing professions or the search for better job offers. It also happens that the employer does not want to dismiss the employees when their position expands or liquidates and for this reason sends them to IT bootcamp to train them so that they can continue working in the same company.
IT Bootcamp is the best way to reskilling and upskilling because there’s no denying that the future of the job market relies on digitisation and coding skills, even if they’re not closely related to the particular job, it’s a huge benefit for a modern employee to have that kind of skills.
Russell Reynolds Associates’ research confirms this trend and how important upskilling and reskilling will become soon, as 90% of companies surveyed by them have already taken up digitalisation strategies. The effects of this decision can be seen already today what concerns changes in the labour market as due to robotisation and automation there is a threat of liquidation of 40% of professions. What is more, by 2020, Europe alone will lack 900,000 IT specialists.
Such a vision provides IT bootcamps with a great perspective for the future, knowing that the demand will continue to be able to focus on expanding the business, creating interesting software solutions of courses and developing a community that is ready for the future job market.