Malaysia Auto Industry Shifts Gears: 73% of Workforce Gears Up for Automation & Skills Challenges: Ken Research

GURUGRAM, India, Feb. 21, 2024 /PRNewswire/ -- Buckle up, Malaysia's automotive industry is accelerating into the future. Ken Research's new report. "Malaysia Automotive Workforce Survey Analysis," reveals a workforce of over 700,000 navigating industry shifts like Industry 4.0, electric vehicles, and evolving consumer preferences. While 73% are part of large organizations indicating broad trends, 40% worry about a looming skills gap fueled by rapid technological advancements. This press release dives into the key findings and highlights the crucial role of a skilled and adaptable workforce in sustaining the industry's success.

Malaysia: A Global Automotive Powerhouse 

From established domestic players like Proton and Perodua to attracting major global manufacturers, Malaysia has cemented its position as a key player in the global automotive scene. This industry, boasting over 700,000 employees across manufacturing, sales, and after-sales services, significantly contributes to the country's GDP. 

Survey Unveils Key Workforce Insights: 

• Organization Size: Leading the pack, 73% of respondents belong to large organizations with over 200 employees, offering valuable insights into broader industry trends. 
• Team Size: Around 44% of workforce leaders manage teams of 11-20 employees, providing deeper analysis based on observations of larger groups. 
• Specialty Demand: Engine, Brake & Transmission experts lead in larger team sizes, with 74% of leaders overseeing teams of 11+ employees, indicating a growing demand for specialized skills in these areas. 

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Adapting to Industry 4.0: Upskilling & Reskilling Take Center Stage 

The report emphasizes the transformative impact of Industry 4.0 technologies like automation and smart manufacturing. However, this necessitates upskilling and reskilling initiatives for the workforce to remain competitive. The survey findings reveal: 

• Embracing Automation: Workforce leaders are increasingly acknowledging the need for upskilling in areas like robotics, automation, and data analytics. 
• Skills Gap Concerns: However, 40% of respondents express concern about a potential skills gap arising from rapid technological advancements. 

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Government Support Drives a Collaborative Future: 

The Malaysian government's National Automotive Policy (NAP) tackles these challenges by: 

• Enhancing Industry Competitiveness: The NAP fosters innovation and R&D, attracting investments and creating high-skilled job opportunities. 
• Bridging the Skills Gap: Government initiatives and industry collaborations focus on providing relevant training programs and upskilling opportunities. 

Conclusion: A Collaborative Roadmap for Success 

The report urges stakeholders across the industry to: 

• Embrace Upskilling & Reskilling: Invest in programs that equip the workforce with the skills required for the future, including digital literacy, data analysis, and Industry 4.0 expertise. 
• Collaboration is Key: Government, industry leaders, and educational institutions must collaborate to develop a comprehensive and responsive skill development ecosystem. 
• Preparing for the Future: By proactively addressing these challenges, Malaysia's automotive industry can ensure a skilled, adaptable workforce that drives continued growth and success in the evolving global landscape.

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Taxonomy

Malaysia Automotive Workforce Survey Segmentation

By Organization Size

• 1-10
• 10-50
• 50-100
• 100-200
• >200

By Team Size

• 1-5
• 6-10
• 11-20
• 21-30
• >30

By Employee Turnover

• 0-10%
• 11-20%
• 20-30%
• 30-40%
• 40-50%

By hiring methods

• Online
• Word of mouth
• Career fairs
• Others

For More Insights On Market Intelligence, Refer To The Link Below: –

Workforce Analysis for Automotive Industry in Malaysia

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Ankur Gupta, Director Strategy and Growth
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