I studied Electronics and Communication Engineering and graduated in 2019.
From my own experience as well as what I have seen , an E&C engineer will have the opportunity to get jobs both in the hardware and the software roles.
Hardware roles include circuit modelling, design and verification engineer, etc while software roles include software development, IT and networking.
You will get a lot of opportunities on both sides and choose the kind of role that you see yourself doing in the future.
Yes, there is a lot of scope on the hardware side but that doesn't mean the software side can't provide the similar growth and opportunity.
Please don't decide what you want to do purely based on the scope but instead explore different career paths and then take a choice based on what you find interesting.