Is Tech Saturated Or Just Competitive?

And who can forget the impact of mobile money (momo)? Even those without smartphones were suddenly making payments through simple USSD codes.

Living in Africa, where innovation often meets necessity head-on, I saw how technology wasn’t just a buzzword, it was becoming a way of life. Yet, with all this rapid adoption, a common concern I hear from people wanting to dive into tech is whether the industry is already saturated.

Is it too late to join the tech train? Or is there still room to carve out a niche and build a thriving career?

The Rise of Tech

According to the African Development Bank, Africa's tech industry is expected to contribute over $300 billion to the continent’s economy by 2025! Now that’s something.

Is this possible?

Looking at the rapid rise of technology adoption and innovation in the continent, with countries like Nigeria, Kenya, and South Africa leading the charge, making them vibrant tech hubs and homes to numerous start-ups and tech giants, it's possible.

COVID-19 accelerated a trend where now, most tech professionals work for international companies without leaving their home country, and even get access to better pay and working conditions. With this, it's right to say “every teen” wants to venture into tech now.

Right before our eyes during the COVID-19 pandemic, we saw a great number of people shifting career paths, with many individuals transitioning into tech roles due to the stability and growth potential the industry offered. For example, LinkedIn reported a 150% increase in the number of people completing online courses in data science, programming, and other tech-related fields during the pandemic.

So, with all this growth and opportunity, I’m sure you might be thinking, "Isn't the tech field getting crowded?" It's a valid concern, but let's unpack this.

The Saturation Myth

The fear of saturation is common; I even at one point felt the same way, but it's often based on a misunderstanding of how tech evolves. The perception of the industry being saturated often stems from the high visibility of tech jobs and the competitive nature of prominent tech companies.

The fact is the tech industry is growing, yes – but here is the truth. Unlike traditional industries, tech is dynamic and constantly expanding. New niches and specializations emerge regularly, driven by innovation and the ever-changing needs of the market.

Take, for example, the rise of artificial intelligence (AI) and machine learning (ML). A few years back, these fields were relatively niche. Today, things have changed. Most industries need them, creating a surge in demand for professionals with these skills. The same can be said for cybersecurity, data science, and blockchain technology. Each of these fields offers unique opportunities for growth and specialization.

The industry even thrives in challenges. Even when the tech industry faced challenges, leading to major companies like Meta, Google, and Amazon announcing mass layoffs. In 2022 alone, over 150,000 tech workers were laid off globally. Despite these layoffs, the demand for tech skills is still high, and the sector continues to offer numerous opportunities, especially for those in emerging markets like Africa.

The Unique African Context

In Africa, the tech landscape presents unique challenges and opportunities. The problems that tech aims to solve here are distinct from those in other parts of the world. For instance, the widespread adoption of mobile money services like M-Pesa in Kenya has revolutionized financial inclusion, a challenge that’s less pronounced in more developed economies. According to the GSM Association, more than 548 million people in Sub-Saharan Africa were using mobile money services by the end of 2020, highlighting the region’s rapid embrace of technology to solve critical issues.

Moreover, Africa stands at an advantage because of its young population. Africa is the world's youngest continent, with a median age of just 19.7 years. This youthful demographic is tech-savvy and hungry for innovation, making it a fertile ground for tech growth. According to the World Bank, Africa’s working-age population is expected to increase by nearly 450 million people by 2035, presenting a massive opportunity for the tech sector to absorb this talent and drive economic growth.

Leveraging Local Opportunities

If you're looking to break into tech, consider focusing on areas that address local needs. Fintech, for instance, is booming in Africa because it addresses the continent's unique banking challenges. In 2022, African fintech startups raised over $1.3 billion in funding, making it the most funded tech sector on the continent. This trend is expected to continue, as the fintech market in Africa is projected to grow at a compound annual growth rate (CAGR) of 12% through 2027.

Health tech is another promising area. The African healthcare market is valued at $259 billion, with digital health solutions playing a crucial role in addressing the continent’s healthcare challenges. Startups in this space are developing innovative solutions, such as telemedicine and mobile health applications, to improve access to quality healthcare.

Edtech is also on the rise, with many startups working to provide affordable and accessible education solutions. The African e-learning market was valued at $2.9 billion in 2020 and is expected to reach $4.7 billion by 2026. With an increasing demand for digital education tools, this field offers not only less saturation but also the chance to make a significant impact by addressing educational disparities.

By focusing on these high-growth areas, you can position yourself at the forefront of Africa's tech revolution. The data clearly shows that these sectors are expanding rapidly, and there is ample room for new talent to contribute to their growth.

To position yourself well to be able to benefit from the opportunities as someone entering into tech, consider these niches. Cybersecurity, Artificial Intelligence(AI) and Machine Learning(ML), Data Science and Analytics, UI/UX Design, and Web Development.

Personal Strategy For Growth.

You'll agree with me that to thrive or succeed in tech it requires more than just a passing interest, it demands a clear strategy. For me, that meant;

●  Focusing on a few niche areas rather than trying to be all things to all people. I’ve chosen to dive deep into emerging technologies where demand is high and expertise is scarce.

●  I've noticed that continuous learning is a sure way to keep up in the industry since the tech world evolves fast. To keep up with it I try to stay updated with the latest trends and technologies through courses, training, workshops, and personal learning. Platforms like Coursera, Codecademy, Stack Overflow, and more became my source to find learning resources.

●  From experience I know that our environment or circle influences us. With this knowledge, I have always been on a quest to build a strong professional network by joining tech communities, attending conferences, and engaging on platforms like LinkedIn, GitHub, and Discord.

●  From mentorship and training, I realized gaining hands-on experience is a sure way to succeed in this industry. This can be achieved by participating in internships, personal projects, co-ops, or contributing to open-source initiatives. Volunteering is also the best way to gain experience when it comes to tech.

Just like the ocean, the tech industry has more than enough room to accommodate anyone without becoming oversaturated. The industry will continue to offer an abundance of opportunities for those who are willing to pursue them. Don’t let the fear of saturation discourage you. With the right approach and mindset, you can build a successful and fulfilling career in tech.

I’d love to hear your thoughts on the tech industry and what your growth plan looks like. Let’s continue this conversation because, in tech, there’s always something new to learn.

Thanks for reading!