Of the 514,000 ICT professionals currently working in Australia, more than 268,000 work directly in the ICT industry, supplying goods and services to every sector of the economy.

"Findings suggest that employment volatility is declining, vacancies are up to record highs and employment growth is slowing," Parakala said.

There are three key factors creating significant pressure on the ICT industry performance - a downtrend in telecommunications employment, a reduction in the number of Australian ICT companies in the market, and a continued decline in R&D spending.

Revenue generated by the ICT industry totals $84.3 billion while R&D totals $600 million.

Another problem that continues to impact the ICT industry is the gender pay disparity issue

According to a survey by the Association of Professional Engineers, Scientists and Managers Australia (APESMA), 25 per cent of professional women reported a pay disparity with their male counterparts.

For women with business qualifications and those in senior management positions, the figure was much higher at over 40 percent.