Salesforce and its ecosystem of partners will create 548,400 new direct jobs and USD $67 Billion in new business revenues in India from 2019 through 2024. These findings are based on a research by International Data Corporation(IDC).
IDC estimates that between 2019 and 2024, Salesforce will drive the creation of 1,362,400 indirect jobs in India, which are created by spending in the general economy by those people filling the 548,400 direct jobs in the country. These estimates are based on the assumption that organizations that spend on cloud computing subscriptions also spend on ancillary products and services. Globally the Salesforce ecosystem in 2019 is more than four times larger than Salesforce itself and the report estimates that this will grow to almost six times larger by 2024.
Globally, manufacturing leads the way job creation with a forecast of 765,800 new jobs by 2024 and finance leads in new business revenues with $224 billion by then. The study report also delves into specific high growth occupations, with AI specialist jobs growing at 44 percent and IoT related jobs growing at 38 percent annually.
Cloud computing is driving this growth, and giving rise to a host of new technologies including mobile, social, IoT and AI, that are creating new revenue streams and jobs that further fuel the growth of the cloud — creating an ongoing virtuous cycle of growth and innovation. According to IDC, by 2024 nearly 50 percent of cloud computing software spend will be tied to digital transformation and will account for nearly half of all software sales. Worldwide spending on cloud computing between now and 2024 will grow 19 percent annually, from $179 billion in 2019 to $418 billion in 2024.
“India has a unique opportunity to leap-frog to the next level of development by identifying the comparable advantage across sectors and value chains while preparing for the future. This means investing in the right skills, innovation frameworks, institutional partnerships and policy frameworks,” said Sunil Jose, Senior Vice President and Country Leader, Salesforce India.