According to the Anderson Economic Group’s “Project-Oriented Employment Trends and Costs of a Skills Gap: 2010 to 2020” report, commissioned by the Project Management Institute, between 2010 and 2020, 15.7 million new project management roles will be created globally across seven project-intensive industries, meaning industries with a high level of project-oriented work such as manufacturing, business services, IT, Finance, Oil & Gas, Utilities and the economic footprint to grow by USD$6.61 trillion.
The report examines 10 countries with high developing project management industries. In these countries the project management roles are expected to increase from 13.4 million to over 41.5 million in the decade and the economic output in these 10 countries will increase by over 130%.
China and India will generate approximately 8.1 million and 4 million project management roles through 2020, leading the growth in project management.
Employment will increase by almost 60% in India, more than 33% in China and by more than 40% in the United Arab Emirates. Germany is the only of the 10 countries which does not show a positive rate in the increase of the profession employment.
GDP will increase across all ten countries between 2010 and with China and India showing over over 140% growth.
UNITED STATES GROWTH
Especially in the United States, there is expected a double-digit growth (more than 12 %) in demand for project management professionals, resulting in almost 6.2 million jobs in 2020 (a 37% increase in GDP of project-intensive industries between, which will lead the profession to $5.81 trillion.
Already there is a high demand which is reflected in average salary growth. Project Management Professional (PMP)® credential holders in the U.S. earned an average of 16 % more than the rest in 2011. Also the high demand will drive to a salary growth for PMP®’s with a pace of $2,800 a year.
Also the project-intensive industries are expected to grow to 2 million and 630,000 project management jobs in 2020. Other businesses, such as healthcare industry, are expected to grow by 30 % more than project-intensive industries in terms of project management demand.
In conclusion, the rapid growth of demand for project management roles and the exceptional salary levels in the profession, make project management profession highly desirable to job seekers.
Currently, demand for project management professionals is still not matched by availability of resources with required project management skills. This creates an unparalleled opportunity for discerning job seekers to build valuable project management skills.
PMI’s Industry Growth Forecast/Project Management Talent Gap Report March 2013
[summarized by Kostantina Maltezou]