What are the 8 Best Careers for the Next 10 Years in Malaysia?
- Between 3.3 million and 6 million jobs are expected to be created in Malaysia by 2030
- Find out what the top 8 jobs that’s most in-demand in Malaysia in the next 10 years
- Knowing which jobs would be in demand in the future will help you choose the right course so that you won’t be jobless when you graduate
Malaysia’s job market is constantly shifting, and the changes are coming faster and faster. Today is very different from your grandparents’ generation. Even the jobs that your parents are working in may not be in demand when you finish your university studies.
Between 3.3 million and 6 million jobs are expected to be created in Malaysia by 2030, but with the new age of automation Industrial Revolution 4.0, preparation and training are fast becoming the critical factor as the new workforce would need new skills.
We know the global job market will change even faster as technology advances. What does this mean for the year 2030 or when you graduate? Some jobs that will be in high demand for future generations don’t even exist today, but we can predict which career paths will be in demand 20 to 50 years from now, so that you can prepare by choosing the right course to study in order to be relevant in the job market when you graduate.
Why is this question so important for Malaysia’s students who are about to embark on their university studies? With the high cost of living, expensive housing, low starting salaries and the burden of having to fund future family as well as parents’ living expenses, choosing a career that has a high job demand as well as salary is crucial to answering all those issues. If you just simply just choose a course, you may end up jobless when you graduate and struggle for the rest of your life to make payments for everything. Therefore, the first step to a successful career is careful planning of which job would be in demand in the future and the course that would prepare you for that.
There will be many advisors out there who claim to possess this knowledge but lack experience due to their young age in addition to ignorance about the future job demand and courses. So, do ask someone who is knowledgeable and experienced, being able to provide you with evidence and statistics so that you can make the right choice.
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Which 8 Jobs in Malaysia will be In-demand in 2030?
The future is uncertain, but we can make solid predictions with today’s information and predict the number of new jobs created in a field over the next 10 years. Present-day labor statistics, reports from human resource recruitment agencies and industry trends can help form these predictions. Some of the list below is gleaned by looking at reports from the government, government linked agencies, human resource agencies, and other jobs come from predictions based on upcoming technology.
- Data analyst and data scientist
- IoT and Automation specialist
- Electrical & Electronic Engineer
- Software and application designer
- Cybersecurity specialist
- Financial Technology (Fintech) Specialist
- Content Creator
- Digital Marketer
Top 8 Careers of the Future in Malaysia
Malaysia government’s focus was also in line with its efforts to meet the challenges of the Industrial Revolution 4.0 (IR 4.0) that requires highly skilled human capital. More new job opportunities would emerge as the digital revolution unfolded, and cited the World Economic Forum’s estimate that 65% of the workforce will work in the yet to be created job sector because it requires digital skills.
TalentCorp had listed 59 critical occupations that are hard to be filled. The Institute for Labour Market Information and Analysis (Ilmia) had recently told FMT that over the past four years, employers had found it increasingly difficult to fill positions. These included jobs as information communications and technology managers, mathematicians, actuaries and statisticians, machinery, equipment and advanced engineering professionals, and policy and planning managers.
- In Malaysia, IT spending in 2018 is forecast to rise 5.7% to RM65.2 billion, faster than the projected global pace of 4.5%. The increased spending will be focus on adopting business digitalisation, blockchain technology and big data to encourage learning and artificial intelligence. According to Kelly Services 2018/2019 Salary Guide, 1 million professionals in the digital space is required in Malaysia by 2025.
- 11 per cent to 54 per cent of jobs in Malaysia can be significantly affected by AI in the next two decades and 7.4 per cent of Malaysian workers are at risk of being displaced by 2028.
No. 1 Data analyst and data scientist
Malaysia is aiming to be a leading nation in the digital economy, and part of that plan is the transition to Industry 4.0. This shift will increase the demand for data professionals, who will play a crucial role in helping businesses make the most of big data and analytics. According to an MDEC commissioned study by IDC, it expected the Big Data Analytics (BDA) market in Malaysia to grow to $1.9 billion by 2025 from $1.1 billion in 2021.
According to the Human Resources Development Fund (HRDF), there should be at least 20,000 data professionals and 2,000 data scientists by 2020. There are, however, just over 14,000 data professionals in Malaysia to date.
The country also requires 12,000 experts on big data, which concerns data sets too large or complex to be dealt with by traditional data-processing software.
Data professionals are in high demand in Malaysia due to the ever-growing amount of data that needs to be analysed. As the field of data science continues to evolve, so is the need for people with specialised data science skills. With more than 10,000 open data professional job positions on Malaysian job boards now is the perfect time to become a data professional in Malaysia.
Malaysia has set its sight on producing and employing an immense number of data professionals to support its data-driven economy. According to the Malaysia Digital Economy Blueprint, lead by the Ministry of Human Resources (MoHR), the government aims to produce 35,000 data professionals by the end of 2025.
If you’re interested in a career working with big data and crunching numbers, there are two paths you may want to consider—becoming a data analyst or a data scientist.
- Data Scientist – Use analytical techniques combined with data skills to develop scalable and robust analytical models
- Data Analyst – Communicate insights that deliver business value based on exploratory analysis
What Does a Data Analyst Do?
A data analyst typically gathers data to identify trends that help business leaders make strategic decisions. The discipline is focused on performing statistical analyses to help answer questions and solve problems. A data analyst uses tools such as SQL to make queries to relational databases. A data analyst may also clean data, or put it in a usable format, discarding irrelevant or unusable information or figuring out how to deal with missing data.
A data analyst typically works as part of an interdisciplinary team to determine the organization’s goals and then manage the process of mining, cleaning and analyzing the data. The data analyst uses programming languages like R and SAS, visualization tools like Power BI and Tableau, and communication skills to develop and convey their findings.
What Does a Data Scientist Do?
A data scientist will typically be more involved with designing data modeling processes, creating algorithms and predictive models. Therefore, data scientists may spend more time designing tools, automation systems and data frameworks.
Compared to a data analyst, a data scientist may be more focused on developing new tools and methods to extract the information the organization requires to solve complex problems. It’s also beneficial to possess business intuition and critical-thinking skills to understand the implications of the data. Some in the field might describe a data scientist as someone who not only has mathematical and statistical knowledge but also the skills of a hacker to approach problems in innovative ways.
No. 2 IoT and Automation specialist
Internet of Things (IoT) is a system of connected devices, each with its own unique identifiers (UIDs), that have the ability to transfer data over the internet without requiring intervention from a human or a computer. These devices, or “things,” can be anything from computers to digital machines to objects, animals and people.
Gartner projected that over 26 billion devices will be linked in the year 2020 while the Internet Society expected that the number will upsurge to 100 billion in year 2025. By 2027, the global IoT market will be worth approximately US$1.5 trillion, a nearly 25 per cent increase in its value from 2019. The Malaysian smart home market is expected to exceed US$ 235 Million by 2025. Smart homes are the residences that are equipped with information and computing technology devices that anticipates and responds to the requirement of the owner in an effective and efficient manner. By 2030, roughly 83.4% of Malaysia’s population is expected to live in urban areas. This creates an enormous opportunity for the smart home market players.
In 2015, the Ministry of Science, Innovation & Technology Malaysia launched the National IoT Strategic Roadmap, which forecasted opportunities to reach RM9.5 billion in 2020 and RM42.5 billion in 2025. This is all done to create a national ecosystem to make IoT a new source of economic growth with its industrialisation and proliferation of use.
The National IoT Strategic Roadmap outlines 3 national goals:
- Malaysia as the Regional Development Hub for IoT
- Create a conducive IoT industry ecosystem
- Strengthen technopreneur capabilities in Apps & Services layer
Gartner predicts that by 2017, 50 percent of IoT solutions (typically a product combined with a service) will originate in startups that are less than three years old. Malaysia also have their own IoT Ecosystem.
Over the recent years, technology companies have developed more devices with capabilities to be connected to the Internet — including watches, televisions, cameras and others. A separate report by IHS Markit also suggested that there will be more than 20 billion connected devices in 2020.
In Malaysia, the IoT industry is expected to generate over 14,000 new jobs and contribute billions of ringgit to the economy.
According to MIMOS, IoT will create a positive impact on several areas. First, it expects mobile device penetration to hit 280% by 2025 (from 144% currently). It also expects mobile broadband penetration to jump to 167% by 2025 (from under 15% in 2015) and mobile services to more than double to US$16 billion in 2025.
MIMOS also added that implementation of IoT is also likely to contribute RM9.5 billion to Malaysia’s gross national income by 2020, and RM42.5 billion by 2025. From the RM42.5 billion projection, RM34 billion will be driven by apps and services, as well as analytics solutions.
Separately, the Ministry of Science, Technology and Innovation added that IoT is likely to create over 14,270 high-skilled employment opportunities by 2020.
By building the local IoT ecosystem, it allows local startups and tech companies to tap onto the vast potential globally — which is estimated to be valued from US$1.9 trillion to US$7.1 trillion by 2020.
No. 3 Electrical & Electronic Engineer
The Malaysian Electronics and Electrical sector (E&E) is an important contributor to the economy. In 2019 alone, it accounted for 6 percent of Malaysia’s gross national income (GNI), 575,000 jobs — representing more than 40% of total manufacturing labour — and 41 percent of Malaysia’s total exports. The electrical and electronics (E&E) industry is the largest single contributor to the manufacturing sector, accounting for 26.1% of total manufacturing output (Source: EPU, Pemandu).
The double-digit growth in the exports of electrical and electronic products (E&E) will likely continue in March 2021 and the remaining months of 2021, following improving outlook for external environment post-Covid.
Surprisingly, the E&E industry has been Malaysia’s largest export earners for decades. In 2019, the industry contributed RM372.67 billion in terms of export value, representing 44.7% of all manufactured goods exported. It also accounted for a remarkable 6.3% of Malaysia’s GDP in 2019, producing components such as semiconductors for mobile devices, automotive and computer parts.
While Penang has the most E&E companies, there are also big players in Kedah, Selangor, Melaka, and Johor. Nearly 560,000 job opportunities have been created in the industry.
E&E industry employs about 700,000 people of whom 30 to 40 percent are engineers and managers. Meanwhile, foreign direct investments (FDIs) continue to grow while Design & Development (D&D) and business process operations/services have also grown significantly. Around 12,500 are skilled engineers, 3,500 are Masters graduates and 191 PhD holders. 7500 are involved in R&D.
Malaysia’s world-class electronics industry is the top sectorial employer and exporter within the manufacturing sector. The E&E industry is also Malaysia’s most liberalised sector. The electrical and electronics (E&E) industry produces and sells electronic equipment for industries and electronics products for consumers such as televisions, mobile devices and printed circuit boards. The industry includes telecommunications, electronic components, appliances, industrial electronics and consumer electronics. Electronics companies may produce electrical equipment, manufacture electrical components and sell items at retail to make their products available for consumers.
Malaysian students wanting to pursue a career in engineering should consider taking up electrical & electronic engineering due to its immense contribution to Malaysia’s economy and future growth, long-standing history with lots of SME’s, large local companies (LLCs) and multinational corporations (MNCs) offering lots of job opportunities.
No. 4 Software and application designer
According to the Malaysia Digital Economy Corporation, the number of digital job vacancies tripled from 19,000 in June 2020 to more than 56,000 in April 2021. Recognising the talent gap, Alibaba Cloud announced in June 2021 its plans to cultivate a million-strong digital talent pool with the launch of Project AsiaForward – an investment project which aims to empower 100,000 developers over the next three years.
- The gap between the demand for information and computer technology (ICT) talent and the supply of that talent is large. Under the MyDigital initiative, the Malaysian government is openly committed to advance the country digitally, aiming to attract and drive investments in the digital economy to create at least half a million jobs by 2025
- The information technology (IT) industry is expected to face a shortage of between 7,000 and 15,000 professionals, as Malaysia rides the wave of the growing digital economy. The industry is currently in need of specialised workers in various IT fields. By 2025, the IT industry will require one million specialised working professionals as the industry is experiencing a rampant growth.
- The gap between the demand for information and computer technology (ICT) talent and the supply of that talent is large. Study indicates that the existing situation cannot even supply half of the demand by 2020, about 500,000 human capital educated in science and technology will be needed in Malaysia. From this number, at least 30,000 graduates are required in the ICT job market.
What programming languages does a Software Developer use most? – According to Hays Malaysia
Java, C#, Python, and PHP are the most commonly used programming languages among Software Developers. However, depending what type of Software Developer you are, you may want to pick up skills in other languages.
What Software Development skills are most in demand? – According to Hays Malaysia
The use of cloud-based technologies and DevOps has grown rapidly, causing demand for AWS, Docker, Kubernetes and GCP skills to rise.
No. 5 Cyber Security Specialist
Asean’s cybersecurity spending is forecasted to grow 15% CAGR (compound annual growth rate) between 2015 and 2025. In addition, Malaysia is one of the top three Asean countries that are expected to contribute 75% of the cybersecurity services market share by 2025.
Cyber security professionals are increasingly in demand as businesses continue to battle the growing threat of cybercrime in Malaysia and globally. Cyber security is one of the leading challenges being faced by businesses today. The consequences of an attack can be severe to an organisation, including; financial costs running into the millions, damage to a business’s operation and internal systems, compromised customer data and reputational damage to a company’s brand.
With the threat of a cyber-attack escalating in recent years, cyber security spend has increased dramatically. As there has been a spate of well-publicised attacks recently, the amount being spent by businesses on improving their systems and hiring professionals will only increase. There is an increase in permanent demand for security experts such as security analysts and security architects, cyber threat intelligence analysts, consultants and cyber incident analysts being the most in-demand. Malaysian businesses looking to hire a cyber security specialist must be prepared to pay a higher premium for professionals with these skills as they are in short supply.
Malaysian students who have an interest in computing courses and good in Maths should consider a career in Cyber Security as it will be very high in demand in future. Furthermore, it pays well. Cybersecurity Ventures is the world’s leading researcher and publisher covering the global cyber economy found that cybersecurity jobs are expected to reach 1.8 million by 2022. Malaysia targets employing 20,000 cybersecurity professionals by 2025 with the right training in artificial intelligence, Internet of Things and Big Data across all industries. The rapid growth of the cybersecurity industry, coupled with threats posed by technological advancements, is resulting in greater job creation in the field.
In Malaysia, the Malaysia Digital Economy Corporation (MDEC) has teamed up with global technology and information security association ISACA to address the shortage of cyber security professionals in our country. There are currently 6,300 cyber security professionals in Malaysia and a target has been set to provide 10,000 professionals by 2020.
Cybersecurity concerns, and corresponding countermeasures, will also likely be a major investment theme as major cyber-attacks continually made making headlines. Candidates who are skilled in OpenSource, DevOps or cyber security are limited in number but essential to digital development plans, so they will be highly sought after.
- 3.5 Million: A study by CyberSecurity Ventures shows that by 2021 there will be a deficit of 3.5 million cyber security professionals in the world
- 10,500: Number of cybersecurity talent demand in Malaysia by the year 2020 (Source: Frost & Sullivan’s recent digital talent study)
- Top 10% of job opportunities in Malaysia is related to cybersecurity. (Source: Talent Pool Report Pro – Oct 2017)
- 21%: The percentage of women in Malaysian cybersecurity Workforce (Source: Dec 2017 LinkedIn Report)
- USD 632.6M: Estimated value of Malaysia’s overall security services market in 2021 (Source: IDC market Security product and services forecast, 2H16)
With so much data that needs to be protected from theft or damage, governments and businesses need trained professionals in Computer Security or Cyber Security to ensure sufficient protection
No. 6 Financial Technology (Fintech) Specialist
Financial technology, or fintech, is rapidly changing all that by making it easier to save, borrow and invest online or with a mobile device, without ever dealing with a traditional bank. For old-fashioned banks and money managers, fintech is causing dramatic upheaval.
Financial technology (FinTech) is touted as a game changer — the revolution that is turning the financial services industry on its head. All this talk about how FinTech is blurring the lines between the financial services and technology sectors evokes a sense of upheaval and change, with the outlook and final outcome uncharted and uncertain.
Malaysia’s fintech sector grew by 27% in 2021 to 294 fintech companies. Payments still dominate the industry, with 60 companies, followed by lending (55), e-wallets (43), and insurtech (31).
The central bank, Bank Negara Malaysia, is working to raise the profile of FinTech amongst financial firms and insurers to improve the quality and efficiency of the country’s financial services sector. This push has created more job opportunities for candidates in the emerging technologies space including mobile and the web.
No. 7 Content Creator
A content creator is someone who creates entertaining or educational material to be expressed through any medium or channel. Content creation especially relates to digital content, since that’s where the majority of content is consumed.
A Content Creator’s responsibilities can vary greatly, but they’re likely include some or all of the following:
- Writing, editing, blogging, and updating content for everything from brochures, and marketing and promotion materials to emails, websites, blogs, and more.
- Ensuring best SEO practices are followed for digital content so search engines like Google can find your content.
- Creating social media posts and managing social accounts, including responding to user comments and questions.
- Working with various company departments and sharing content ideas to aid with their content needs.
- Monitoring website and social media metrics.
Malaysia’s SME sector is seeking content creator professionals, including writers, editors, and video producers, due to the high usage of digital marketing during the pandemic.
The pandemic has led SMEs to realise the importance of digital marketing. As a result, roles such as content creators, whether as a writer or editor for written content or as a video producer or graphic content for video content, are tightly sought after, BrioHR.com’s co-founder and CEO, Benjamin Croc, told A+M. Web developers, designers, and data analysts are also in high demand. There is also a growing demand for skilled marketing professionals, he added.
In addition, Malaysia’s rapidly maturing digital creative industry, which includes animations, movies, and video games, is proving to be a significant growth driver to the nation.
MDEC has introduced initiatives to boost our digital content creators, allowing them to better realise their potential by providing them with essential tools and knowledge. This results in locally made content that is now captivating a worldwide audience.
No. 8 Digital Marketer
Now more than ever, social media plays a big role in our daily lives. There are many reasons we use social media – to stay updated with news and current events, find entertaining content, fill up spare time, stay in touch with family and friends, play games, or watch online TV and audio streaming.
Individuals who master the art of digital marketing use new methods to shape consumer trends through ads seen on social media or videos that inspire consumers to make a purchase with a click of a mouse or tap on a mobile device.
Digital marketers create potentially viral content, effective branding strategies, posts that are highly liked or shareable, while generating new leads and anticipating changes in sales trends with persuasive content writing.
They have the ability to speak to the audience using a simple image or picture that may carry the meaning of a thousand words.
A digital marketing specialism will provide students with knowledge about a broad range of digital marketing technologies and how they are applied in practically infused digitised settings.
Digital marketers can land themselves various exciting career opportunities. In fact, under the Malaysia Digital Economy Blueprint, the government is aiming to provide half a million jobs in the digital economy by 2025, with the digital sector expected to contribute 22.6% to the country’s gross domestic product (GDP).
Furthermore, a recent LinkedIn study indicates an increasing demand for various marketing jobs. Last year, 381,000 marketing job openings were posted and in the past six months, the world’s largest professional networking platform witnessed a 63% increase in marketing jobs.
Digital marketing specialists, digital account executives and social media managers are in the top 10 most in-demand occupations (by volume of jobs postings) lists, followed by digital marketing manager, copywriter, marketing associate, account supervisor, marketing assistant, digital strategist, and marketing manager.