After an unprecedented slump in 2020 due to the impact of the coronavirus, the electronics and semiconductor recruitment markets are recovering strongly. Despite the ongoing disruption and local and international lockdowns, performance in Q1 2021 was better than many expected, continuing the pattern of growth that began in the latter part of 2020.
In this article, we’ll take a look at the in-demand electronics professionals in 2021 and explore the performance of the electronics and semiconductors industries as a whole.
Electronics companies that revised their strategies are emerging strongly
Despite the devastating impact the coronavirus has had on the global supply chain, many electronics and semiconductor companies moved quickly and decisively to protect their employees and revise their long-term strategies. The result is that the industry has emerged more strongly from the outbreak than many had expected.
One of the biggest drivers of the upturn in performance has been the global shortage of microchips. This is partly the result of the COVID-19 outbreak and is expected to be sustained throughout 2021. Shortages of semiconductors have also been affecting vehicle manufacturers, and with the automotive industry now starting to recover, demand is expected to surge.
Active capital markets in California spur growth among start-ups
The growth of electronics and semiconductor recruitment is also being driven by an increase in startup investment in Silicon Valley.
In what was a record quarter for venture capital funding, more than one-third ($25 billion) of the total $69 billion US-based venture funds invested in the first quarter of 2021 ended up in Silicon Valley. That included more than $1 billion for enterprise software maker Databricks and a staggering round of $3.4 billion for the financial services company Robinhood.
Electronics engineering roles are in high demand
As the automotive, wired communication and start-up industries rebound, we are seeing particularly high demand for electronics engineering roles in design, verification, validation, test, and product. However, other factors are also coming into play. An ageing electronics workforce combined with fewer electronics engineering graduates is creating an increasingly competitive talent market.
This high level of demand means that experienced engineers and graduates can have their pick when it comes to the best jobs. They are also in an excellent position to negotiate a very competitive starting salary.
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