IDEAS home Printed from https://ideas.repec.org/a/gam/jecomi/v12y2024i2p35-d1330807.html
   My bibliography  Save this article

A Systematic Review of Industry 4.0 Technology on Workforce Employability and Skills: Driving Success Factors and Challenges in South Asia

Author

Listed:
  • Md. Tota Miah

    (Doctoral School of Economic and Regional Sciences, Hungarian University of Agriculture and Life Sciences (MATE), Páter Károly u. 1, 2100 Gödöllő, Hungary
    Department of Business Administration, Varendra University, Rajshahi 6204, Bangladesh)

  • Szilvia Erdei-Gally

    (Institute of Technology, Hungarian University of Agriculture and Life Sciences, Páter Károly u. 1, 2100 Gödöllő, Hungary)

  • Anita Dancs

    (College of Arts and Sciences, Western New England University, 1215 Wilbraham Road, Springfield, MA 01119, USA)

  • Mária Fekete-Farkas

    (Doctoral School of Economic and Regional Sciences, Hungarian University of Agriculture and Life Sciences (MATE), Páter Károly u. 1, 2100 Gödöllő, Hungary
    Institute of Agriculture and Food Economics, Hungarian University of Agriculture and Life Sciences (MATE), Páter Károly u. 1, 2100 Gödöllő, Hungary)

Abstract

The purpose of this study is to systematically analyze the impact of Industry 4.0 technologies on workforce employability and skills in the South Asian region. The study investigates the driving success factors, challenges, and needed skills by analyzing 48 peer-reviewed articles. The authors searched keywords on the Web of Science database for articles published between 2013 and 2022. The review was conducted using the preferred reporting items for systematic reviews and meta-analyses (PRISMA 2020) and pareto principles. The analysis identifies nine critical success factors, such as artificial intelligence, digital skills, and big data analytics, that contribute to Industry 4.0’s productivity and efficiency. It also identifies six types of challenges, such as training and development, financial constraints, and regulatory issues that must be addressed to grab maximum potential. In addition, the research categorizes five different skills, including the technical, digital, and social skills that are essential for the evolving labor market. The proposed “Industry 4.0 SEI Framework” provides stakeholders with a comprehensive view of the dynamics of Industry 4.0, thereby facilitating policy and industry strategies.

Suggested Citation

  • Md. Tota Miah & Szilvia Erdei-Gally & Anita Dancs & Mária Fekete-Farkas, 2024. "A Systematic Review of Industry 4.0 Technology on Workforce Employability and Skills: Driving Success Factors and Challenges in South Asia," Economies, MDPI, vol. 12(2), pages 1-24, January.
    • Handle: RePEc:gam:jecomi:v:12:y:2024:i:2:p:35-:d:1330807
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7099/12/2/35/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7099/12/2/35/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. An-Chi Wu & Duc-Dinh Kao, 2022. "Mapping the Sustainable Human-Resource Challenges in Southeast Asia’s FinTech Sector," JRFM, MDPI, vol. 15(7), pages 1-26, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ioannis Zervas & Emmanouil Stiakakis & Ioannis Athanasiadis & Georgios Tsekouropoulos, 2024. "A Holistic Approach to Define Important Digital Skills for the Digital Society," Societies, MDPI, vol. 14(7), pages 1-22, July.
    2. Machkour Badr & Abriane Ahmed, 2024. "Entrepreneurship 4.0 and Success Factors in the Context of Industry 4.0: A literature review [Entrepreneuriat 4.0 et facteurs de succès dans le contexte de l'industrie 4.0 : Une revue de littératur," Post-Print hal-04704435, HAL.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dongjing Chen & Xiaotong Guo, 2023. "Impact of the Digital Economy and Financial Development on Residents’ Consumption Upgrading: Evidence from Mainland China," Sustainability, MDPI, vol. 15(10), pages 1-25, May.
    2. Ioannis Zervas & Emmanouil Stiakakis, 2024. "Economic Sustainable Development through Digital Skills Acquisition: The Role of Human Resource Leadership," Sustainability, MDPI, vol. 16(17), pages 1-25, September.
    3. Albulena SHALA & Rezearta PERRI, 2022. "Regulatory barriers for fintech companies in Central and Eastern Europe," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 13, pages 292-316, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jecomi:v:12:y:2024:i:2:p:35-:d:1330807. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.