February 22, 2024

IT Spending Market Size in Southeast Asia to grow by USD 33.97 Trillion, Hardware Segment to be Significant for Revenue Generation

NEW YORK, Aug. 3, 2022 /PRNewswire/ — The IT Spending Market In Southeast Asia by…

IT Spending Market Size in Southeast Asia to grow by USD 33.97 Trillion, Hardware Segment to be Significant for Revenue Generation

NEW YORK, Aug. 3, 2022 /PRNewswire/ — The IT Spending Market In Southeast Asia by Type (Hardware, Services, and Software) and Geography (Malaysia, Singapore, Thailand, Indonesia, and 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.

Technavio has announced its latest market research report titled
IT Spending Market in Southeast Asia by Type and Geography - Forecast and Analysis 2022-2026

Technavio has announced its latest market research report titled IT Spending Market in Southeast Asia by Type and Geography – Forecast and Analysis 2022-2026

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IT Spending Market In Southeast Asia  – Key Market Dynamics

Major Driver

  • 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.

Major Challenges

  • 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, China, the US, and Canada, have competitive pay scales.

  • However, many vendors in mature service delivery locations, such as India and the Philippines, have 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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IT Spending Market In Southeast Asia – Vendor Analysis

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.   

  • To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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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IT Spending Market In Southeast Asia Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.4%

Market growth 2022-2026

33.97 USD Trillion

Market structure

Fragmented

YoY growth (%)

7.78

Performing market contribution

Southeast Asia at 100%

Key consumer countries

Malaysia, Singapore, Thailand, Indonesia, and the Rest of Southeast Asia

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

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Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Type

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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