NEW YORK, Aug. 3, 2022 /PRNewswire/ — The IT Spending Market In Southeast Asia by Type (Hardware, Services, and Software) and Geography (Malaysia, Singapore, Thailand, Indonesiaand Rest of Southeast Asia) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The IT spending market share in Southeast Asia is expected to increase to USD 33.97 trillion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.4%. The IT spending market in Southeast Asia’s share growth by the hardware segment will be significant for revenue generation. With the rapid growth in the use of mobile devices, such as smartphones and tablets, the hardware segment is expected to grow at a steady rate during the forecast period. Moreover, the increasing adoption of VoLTE and 4G standards by network providers have made consumers upgrade their phones, causing an increase in the demand for phones equipped with VoLTE and 4G. Several telecommunication operators are making significant investments in 4G and 5G infrastructure. These factors will influence the growth of the Southeast Asia IT spending market in the hardware segment during the forecast period.
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- The increased adoption of mobility solutions in Southeast Asia is one of the key drivers supporting the Southeast Asia IT spending market growth.
- Mobility enables e-government initiatives to be successful in tier II or tier III cities and in rural areas that lack IT infrastructure and Internet access. Moreover, using mobility financial inclusion can be achieved, and people without access to a bank can use m-commerce , mobile banking, and mobile money.
- Furthermore, the growing urbanization is expected to drive mobility growth in Indonesia and Malaysia. IT services and software development centers are highly required with the increasing mobility associated with urbanization. Such factors are expected to propel the growth of the Southeast Asia IT spending market during the forecast period.
- Lack of skilled talent and retention of the talent pool is one of the factors impeding the Southeast Asia IT spending market growth.
- One of the key challenges being faced by the IT spending market is to avoid losing key competencies, especially when companies are feeling the heat of a meltdown or making strategic divestitures. It could be a difficult task to acquire and retain key employees in outsourcing destinations such as Malaysia and other Southeast Asian countries because destinations, such as India, Chinathe US, and Canadahave competitive pay scales.
- However, many vendors in mature service delivery locations, such as India and the Philippineshave begun to face scale limitations. These locations have enormous availability of labor but lack the quality and skill set required to fulfill IT processes on a large scale. This, in turn, will impede the Southeast Asia IT spending market growth during the forecast period .
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The IT spending market in Southeast Asia is fragmented and the vendors are deploying growth strategies such as continuously investing in R&D to advance their offerings and increase their consumer base to compete in the market.
- Accenture Plc
- Acer Inc.
- Alphabet Inc.
- Apple Inc.
- ASUSTeK Computer Inc.
- Broadcom Inc.
- Capgemini Service SAS
- Cisco Systems Inc.
- Cognizant Technology Solutions Corp.
- Dell Technologies Inc.
- HCL Technologies Ltd.
- Hewlett Packard Enterprise Co.
- Infosys Ltd.
- International Business Machines Corp.
- Lenovo Group Ltd.
- Microsoft Corp.
- Oracle Corp.
- Samsung Electronics Co. Ltd.
- SAP SE
- Tata Consultancy Services Ltd.
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The competitive scenario provided in the IT Spending Market In Southeast Asia report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share , etc.Don’t wait, Make a strategic approach & boost your business goals with our IT Spending Market In Southeast Asia Forecast Report – Buy Now!
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