Published on : Jul 03, 2017
Albany, New York, July 03, 2017: The comprehensive report on IT spending market in Southeast Asia offers in-depth insights into the key drivers and restraints, notable trends, and emerging opportunities, share and size of major segments, and competitive landscape. The research study offers an elaborate description of the factors affecting the demand for mobility solutions in major countries of Southeast Asia.
The study highlights recent technology advancements and key product innovations in enterprise solutions, expected to significantly alter the competitive dynamics. It takes a closer look at key industry automation trends and their impact on the strategy of the key providers of IT mobility solutions. Witnessing burgeoning opportunities by the advent of a vast assortment of mobility solutions, the IT spending market in Southeast Asia is projected to rise at a CAGR of 6.17% from 2017 to 2021.
The spiraling adoption of mobility solutions by enterprises in various countries of Southeast Asia has spurred IT spending in various organizations. The growing need for ensuring unhindered and continuous sharing of crucial enterprise data has stimulated several companies to implement cost-effective mobility solutions. The advent of mobile banking and m-commerce solutions has facilitated the goal of financial inclusion in developing and developed nations. In addition, the rapid pace of industrialization in countries such as Malaysia and Singapore has propelled the demand for mobility solutions thereby catapulting spending by CIOs to make IT more robust.
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The need for a variety IT services and the emergence of software development centers in developing nations of Southeast Asia are the factors catalyzing the market growth. The growing popularity of bring your own device (BYOD) trend and programs in enterprises of all sizes is expected to bolster investments in IT. The increase capability of BYOD to bring significant process improvements is expected to positively impact the IT spending market in Southeast Asia. The growing demand for implementing advanced IT solutions among forward-looking enterprises is expected to expand the prospect the market.
The growing popularity of various cloud computing services, big data services, and Internet of Things (IoT) are expected to open up a wealth of exciting opportunities for market players. This has resulted several product innovations and advancements by vendors, consulting firms, and third-party players, which has amplified IT spending in various parts of Southeast Asia.
The major countries of IT spending in Southeast Asia are Indonesia, Malaysia, Singapore, Philippines, and Thailand. Of these, Malaysia contributes the major revenue in the market and is expected to maintain its lead throughout the forecast period. The surge in IT spending in the country is driven by substantial spending on hardware by consumers and burgeoning investment in implementing advanced software services among enterprises. A large part of the population actively upgrading their smartphones, thereby boosting the market. Prominent vendors vying for a sustained share in the IT spending market Southeast Asia include Oracle, Microsoft, IBM, Accenture PLC, Samsung Electronics Co., Ltd., and Apple Inc.
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