LinkedIn, Market of India Growing Rapidly
Market of India
LinkedIn is a social networking platform that connects the world’s professionals to make them more productive and successful. It was founded in 2003 and has more than 850 million members worldwide.
You can use LinkedIn to find a job or internship, learn new skills, network with people in your industry, and share your ideas and achievements, and more. LinkedIn also offers various products and services for talent, marketing, sales and premium subscriptions.
Indian Market and Statistics
The LinkedIn Indian market has grown nearly 4 times in the past years. A spike was seen in the market for financial years 2017-2022. Effectively, this makes the country the fastest growing market for the $14-billion professional network, in terms of member engagement, across the world.
India is LinkedIn’s second largest market after the US in terms of member engagement. Henceforth, as per stats of FY20, the company’s revenue in India grew up by 84%.
Feon Ang, LinkedIn’s MD for Asia-Pacific (APAC) said, “India represents almost 50% of APAC members. For APAC, we have more than 254 million members and India has more than 100 million. The speed of growth is faster than anywhere else. India is getting a lot of attention.”
Job-seeking in India too is active with companies looking to the platform to hire, said Ang. “Members in India tend to be a lot more active as compared to the global average.”
Even as global big tech companies are cutting down on manpower, Ang said LinkedIn continues to hire in critical roles. “We are still seeing some success in certain sectors,” she said. When asked to specifically comment on layoffs, Ang said so far there have been none. “We constantly look at how we can manage our business better.”
With the global slowdown, like all companies, Ang said LinkedIn is a lot more cautious now. “We have to be very careful in terms of how we invest. We are seeing a lot of success in India and we do believe that this country will continue to grow and the opportunities are there,” she said.
Skilled Professionals
Two key trends that Ang sees playing out clearly are skills and flexibility. “We see the rate of change for skills in a particular job changing quite rapidly. In the last four years, skills related to jobs have changed by 29%. By 2025, skills are expected to change by almost 50% in India,” said Ang.
Recently, LinkedIn marked its 20th anniversary and conducted a survey on professionals. Further, it is found that professionals are engaging themselves more in skills. They are taking up skills over degrees to pursue their careers.
Moreover, 76% of the professionals admit of degrees getting less importance in today’s time as compared to earlier days. However, a majority of professionals believe that in coming years, companies would prefer skilled workers instead of certain job function.
