Analysis of the number of researchers in business services in Malaysia from 2014 to 2023 demonstrates a consistently increasing trend, starting at 6.58 thousand persons in 2014 and reaching 7.51 thousand persons in 2023. The year-on-year variation has gradually decreased from 2.6% in 2014 to 1.32% in 2023. Additionally, the Compound Annual Growth Rate (CAGR) has shown a reduction, dropping from 12.03% in 2014 to 1.42% over the last 5 years.
Looking ahead, from 2024 to 2028, the number of researchers is forecasted to increase from 7.61 thousand to 7.98 thousand persons. The predicted CAGR for these forecasted years is 0.95%, indicating a slower but steady growth rate of 4.82% over the five-year period.
Future trends to watch for include:
- The impact of technological advancements and digital transformation on the demand for researchers in business services.
- Potential shifts in economic policies and investments in research and development initiatives.
- The emergence of new market dynamics and evolving consumer behavior influencing the business services sector.
- International collaborations and their role in driving upskilling and research capabilities in Malaysia.
