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NEW YORK, July 12, 2022 /PRNewswire/ — The “IT Spending Market in Southeast Asia by Type and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. The report offers a detailed analysis of the competitive landscape and successful growth strategies adopted by various vendors including 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, and Tata Consultancy Services Ltd. among others.
Purchasing our full report provides you with a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
According to the report, the market will observe an incremental growth of USD 33.97 trillionaccelerating at a CAGR of 8.40% during the forecast period.
The IT spending market in Southeast Asia is fragmented with the presence of several global and regional vendors. The dynamically changing consumer requirements are encouraging vendors to develop new solutions to meet the demands of consumers. Existing vendors in the market are continuously investing in R&D to advance their offerings and increase their consumer base . On the other hand, several new players are expected to enter the market during the forecast period with innovative solutions. This is increasing the competition among market vendors.
Factors such as increased adoption of mobility solutions in Southeast Asiathe rise of IoT solutions, and the proliferation of data will offer immense growth opportunities. In addition, market trends such as the growth of big data and analytics services will further accelerate the growth of the market. However, the lack of skilled talent and retention of the talent pool, lack of security in cloud computing, and system integration and interoperability issues will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The IT spending market in Southeast Asia is segmented as below:
- Type
- Hardware
- Services
- Software
The hardware segment will have the largest share of the market during the forecast period. The growing adoption of VoLTE and 4G standards by telecom operators is encouraging consumers to upgrade their phones, causing an increase in the demand for phones equipped with VoLTE and 4G technologies. In addition, the increasing investments in 5G services are contributing to the growth of the segment.
- Geography
- Malaysia
- Singapore
- Thailand
- Indonesia
- Rest Of Southeast Asia
Malaysia will be the key market for IT spending in Southeast Asia during the forecast period. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our IT spending market in Southeast Asia report covers the following areas:
We provide a detailed analysis of around 25 vendors operating in the IT spending market in Southeast Asia. Backed with competitive intelligence and benchmarking, our research report on the IT spending market in Southeast Asia is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist IT spending market growth in Southeast Asia during the next five years
- Estimation of the IT spending market size in Southeast Asia and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the IT spending market in Southeast Asia
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of IT spending market vendors in Southeast Asia
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Full story available on Benzinga.com
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