The amazing pace of advancements in innovative technology has propelled us into the fourth industrial revolution, also referred to as Industry 4.0, by significantly improving production/manufacturing processes through the use of smart and autonomous systems. Advanced manufacturing is all about integrating intelligent production and effective organisation for efficient production and enhanced competitiveness.
This phenomenon, along with the growth of emerging economies, particularly in the APAC region, has in turn transformed the industrial automation sector and brought about shifts in the corresponding talent market.
IMPACT ON INDUSTRIES
As the middle class in emerging economies flourish, their cost of living and wages rise. As a consequence, the cost of labour has risen too, leading to more and more industries seeking to raise productivity and lower labour costs through the automation of production/manfacturing processes.
This has spurred investments in the industrial automation sector due to the growing demand for multi-joint robots, which are increasingly being tailored to suit a wider variety of functions and fields. Research by The International Federation of Robotics found that the global industrial robots market increased over 20% YoY in 2017, reaching over US$16 billion.
IMPACT ON HIRING TRENDS
The impact of these changing economic and industrial trends on the talent market is outlined as such by Yoshihira Terashima, Principal Consultant, Industrial and Manufacturing, RGF Executive Search Japan: “Technology advancement drives market disruptions – from ‘industrial to industrial’ to ‘technology to industrial’. This in turn affects the demand for talent in the robotics market in Japan and Asia, which is especially evident as mechanical and electronic engineering roles experience a slowdown.”
Mr Terashima also revealed which talents are most sought after to ride the Industry 4.0 wave. Share his insights and glean other relevant information on the industrial automation sector from the RGF Asian Intelligence “Industrial Outlook” report.
Download our full report here.