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6 Hottest Industries In 2020

By Lim Hwei San Dec 05, 2018 477 Views

        Graduating soon and unsure of what to major? A lot of students often choose their degree based on their parents’ advice, peer pressure or simply enrolling for courses that are recommended by the university counselor. It is a difficult decision to make but do bear in mind that you should choose your degree based on where your passion is, what you excel in, financial feasibility and most important, future job prospects. Here, I will share with you some of the upcoming industries in 2020 that you can consider when deciding on your major. Below are expected trends industry opportunities in year 2020 that could serve as an influencing factor when strategizing and planning your future career.


1. Health Care


 

"And this is when I bring out a hacksaw and go all horror-movie on you."

Healthcare is one of the 12 national key economic areas (NKEA) identified by the Malaysia government as a potentially high growing industry due to the evolving demographics locally and globally, and of course the growing health-conscious consumers. According to the Economic Transformation Programme (ETP), the government will encourage private investments in this field and support collaborations among public and private healthcare providers. If you’ve followed PEMANDU closely, you will find that much has been done to accelerate growth in this field. Have you heard of medical tourism? The government has been actively promoting Malaysia as a destination for medical tourism and has even set up a healthcare hub in the fast-growing Iskandar City at Johor. Within Iskandar, there are 9 new hospitals and more to come in the near future. The demand is real when Malaysia is one of the cheaper locations to provide high quality healthcare services.

One of the largest healthcare providers in Malaysia, Pantai Hospital, had recently launched their first management trainee programme in Malaysia, replicating the success of trainee programme in Singapore. Sunway Medical Centre, is also planning their fair share of possible expansions. So what can you conclude from all these? All I can see is the endless opportunities and career growth in this industry. Well some of you may suggest that healthcare isn’t your cup of tea and you may have already gone too deep in the art or commerce stream to turn back now. But fret not because when I say healthcare, it includes healthcare managers – YES, I mean covering areas such as managing hospitals, people management, business, finance and everything else relating to the hospital. SO, if you like business and have an interest in medic and bio, there no harm considering working towards entering the healthcare industry!


2. Medical Sales


 

"This means lots and lots of drugs for all of us. Yes, we strictly mean medical drugs."

Given the growth in the healthcare industry, at the current rate of 11.5% compare to global growth of 6.9%, medical sales is expected to be in high demand. Although Healthcare and medical cost may come subsidized, it is only a norm where the demand for medicines, medical supplies and medical devices follow suit in line with the demand. Companies manufacturing these products will benefit from the growth in the health care sector, and more medical sales professionals will be in demand to market these products to health care institutions, retailers and individuals. You may wonder about the progression or career opportunities you can get as a medic sales executive. Well in this particular field, it is all about about specialization – beign a specialist in a particular field of product (for instance, drugs, medical devices or medical disposals?), a particular type of customer (hospitals or pharmacies?) or even a geographical area. So plan your career with a goal in mind, it will definitely make your career progression way easier and faster.


3. Therapy And Counseling


 

"So tell me, why are you always having a headache?"

Have you heard of the 2014 Taipei subway attack? Or even of the more recent ‘little light bulb’ tragedy? Well what about The 2010 Foxconn employee suicide? A series of incidences over the recent years send us a warning that mental stress and pressure is on the rise and that it should not be ignored. With the increasing awareness on the importance of psychological health, people are generally more willing to acknowledge mental issues as an illness that requires treatment. In Malaysia more healthcare associations are promoting the awareness of mental health, take for an example the National Autism Society of Malaysia that recently held a series of events promoting the awareness about autism in conjunction with National Autism Week. I have in fact, worked part time at a playschool and couldn’t help to notice how open most parents are when they speak about how they self-diagnose their kids with autism and subsequently sending them over to the therapist for appropriate treatments. The new generation of parents is willing to spend good money for a certified therapist for their children’s welfare. There is high career prospect in this growing in this sector be it locally or internationally and it is definitely one that is staying for the long run.


4. Big Data 


 

"My ability to construct pie charts and bar graphs will yield me a fortune."

In this current era, I think it is of no surprise that I tell you we live in a world of numbers and data. If you have ‘Matrix’ in mind with green figures all around, then you almost got it right, but not quite there yet. Would you believe me that in the current age, we are able to tell the number of drivers that passes by a specific highway? Or even able to share the average transaction from an entire mall? Or to the point of highlighting out which is the most popular music being played over the internet and to top that, even able to track the time spent by a user on a particular webpage? Well if you know all the above is possible then you are right, welcome to the age of data where everything and anything you do can now be tracked all thanks to technology. So why bother with all these habits you may ask, the truth is, in masses, these figures form a particular behavior that acts as an indicator or even form a pattern where corporations are willing to spend big bucks for such insights. Available jobs in the Data industry are such as market researcher, data analyst, insights managers, analytic managers and etc. These are the people who crunches data and then develop tables and charts out of it, through the process of analyzing raw data and later forming business understanding and strategies for the company.

Let’s take you for an example, when you log on to social chats and media applications like Facebook, Instagram, Snapchat, and so on. The sites your click through and the time you log on gives advertisers insights on when they would like to advertise specific products to you base on the sites you have viewed on the time frame you usually log on to the internet. Companies such as Lazada and Zalora are very well known for being such advertisers. Recently, Malaysia have seen an increase in market research agencies in the country – think Nielson, Millward Brown, IDC, IPSOS, Dunnhumby. The industry is relatively small now and companies are actively expanding and hiring, hence the growth prospect of career in this field is very promising. Gone are the days when companies invest base on gut feel, theories and logic, now everything is based on data and the best part is, statistics don’t lie. What’s more promising is that the Multimedia Development Corporation (MDeC) had recently announced its goals to make Malaysia the regional Big Data Analytic (BDA) hub by year 2020. So looking at the career opportunities in this industry, I would say the statistic shows that it is pretty high.


5. Education


 

"Education is gold, please don't leave them all over the grass like this."

Apart from Healthcare, education is another aspect that is widely seen as a crucial necessity in today’s living. In short, education is somewhat seen as the key to a brighter future and is exactly what all parents want for their children. Malaysia aims to be an education hub in the region as part of our country’s vision 2020. In fact, the government has already invested in numerous projects relating to the education industry to boost this sector in to meet global standards, take EduCity in Iskandar City and Cyberjaya for example. Demand for better education is increasing at a rapid rate, especially given the effects of globalization and not forgetting the massive inflow of international students studying in Malaysia. Since 2013, private institutions have seen a 30% increase of international student enrolment in the country. I am sure this statistic is not a shocker given their obvious presence in your college / University.

Malaysia is seen to be one of the top picks for education destinations in the region with contributing factors such as reasonable fees, hospitable environment, excellent level of education, moderate government stance and most of all, a geographical haven. Education institutions will encourage more value added services to be offered to increasing demand of students, which will in turn create more job opportunities for academia and non-academia positions. And until a neighboring country is able to replace Malaysia as the next education hub, the country’s Education Industry is poised to boom in years to come. So if you have yet to decide on your career path, do consider jobs in the education industry, one good plus about it is, you will always feel young at heart.


6. Internet Of Everything / Internet Of Things


 

"The internet is so big, who knows, we might be able to live in it soon."

Internet of Everything (IoE) and Internet of Things are the future and it is only going to get bigger in the upcoming years ahead. Four decades ago we were struggling with bulky computers and heavy hand phones but look how time has changed everything. From phones as thick as a dictionary we now have phones that are just few sheets of paper thick, even computers that were as huge to fill up a room has now shrink to the size of your diary. From the days when internet connectivity was done through JARING to its current wireless connectivity, these are the evolutions as the result of time. As a Gen Y, I am truly amazed by how things have changed so drastically in such as short period of time, but what’s more exciting is the fact that these developments have created countless jobs that were not even significant back in the 90s. Software development, engineering, application development, information security, networking and system engineering are just a few to name.

Talents in this field were once considered unpopular, or should I say, only meant for the nerds and geeks but in recent times, we associate them to being trendy and sophisticated. The industry is growing exponentially and there is nothing in sight for now that would disrupt this booming trend. In Malaysia, this industry is considered by many to be very promising, given the high dependency rate of Malaysians on technology. Comparing Malaysia to the world, do you know that Malaysia has one of the highest mobile penetration rate at 140% and an extremely high internet usage at 66% of the population. Need I say more, the industry is booming and demand is ever high in the country not to mention the populations’ favorable behavior towards the industry. You may want to consider topping this career industry on your priority list.

So here you go, the hottest industries to consider in the upcoming future. If you are interested in these sectors, it is always good to start off by researching on the industry – talk to people who actually work in the field of work, visit career fairs, consult a career counselor or even apply for an internship in relevant work industry for a better gauge. These would definitely help you to better firm up your decision on your career options.


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