Market research analysts at Technavio predict that the IT spending market in South East Asia will grow steadily at a CAGR of above 6% by 2021.
Albany, NY -- (SBWIRE) -- 05/18/2018 -- This industry research report identifies Apple, Dell, HP, Samsung Electronics, Accenture, Alphabet, IBM, Microsoft, Oracle, and SAP as the key vendors in the IT spending market in South East Asia. A comprehensive analysis of this market is also presented by type (software, services, and hardware) and by geography (Indonesia, Malaysia, Philippines, Singapore, and Thailand).
Overview of the IT spending market in South East Asia
This market research analysis identifies the increased adoption of mobility solutions as one of the primary factors for the growth of the IT spending market in South East Asia. Mobility plays a significant role in the uninterrupted data sharing process and also facilitates financial inclusion which enables individuals without access to a bank use m-commerce, mobile banking, and mobile money. This in turn, will increase the adoption of mobility solutions in this region. Additionally, the growth in urbanization in countries such as Indonesia and Malaysia will also drive the adoption of mobility solutions. This increased mobility will result in a rise in the need for IT services and software development centers, which will subsequently fuel the growth of the IT spending market in South East Asia.
The increased adoption of BYOD policy is one of the major trends that will gain traction in the IT spending market in South East Asia during the next few years. To offer a cost-effective solution and provide mobility to employees and enhance productivity, enterprises in this region are increasingly adopting BYOD programs. This will help companies lower their IT costs by reducing the capital expenditure and improving efficiency. Singapore and Malaysia are currently the leading adopters of the BYOD program in South East Asia.
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Competitive landscape and key vendors
The market is characterized by the presence of a considerable number of vendors. To gain a competitive edge, companies in this region are increasingly opting for the automation of processes and this will in turn, intensify the level of competition among the players in this marketspace. Vendors with a broad portfolio of services, solutions, and products will acquire strong positions in the IT spending market in South East Asia.
The leading vendors in the market are -
The other prominent vendors in the market are Acer, Asus, Capgemini, Cisco Systems, Cognizant, Infosys, Lenovo, TATA Consultancy Services, and Symantec.
Segmentation by type and analysis of the IT spending market in South East Asia
During 2016, the services segment accounted for the major shares of the IT spending market in South East Asia. IT support services include software and hardware support services that are basically delivered by product vendors, consulting firms, or third-party maintainers. The increasing demand for implementing advanced IT solutions including cloud computing services, big data and analytics services, mobility, and Internet of Things (IoT), will be a major factor driving the growth of this market segment.
Geographical segmentation and analysis of the IT spending market in South East Asia
This market study estimates that in terms of geographic regions, Malaysia will be the major revenue contributor to the market throughout the forecast period. The growth in the hardware segment due to the increased focus of consumers to upgrade their phones and the demand for software services from the manufacturing industry, will drive the growth of the market in Malaysia.
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Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the IT spending market in South East Asia?
What are the key market trends impacting the growth of the IT spending market in South East Asia?
What are the challenges to market growth?
Who are the key vendors in IT spending market in South East Asia?
What are the market opportunities and threats faced by the vendors in IT spending market in South East Asia?
Trending factors influencing the market shares of the Indonesia, Malaysia, Philippines, Singapore, and Thailand.
What are the key outcomes of the five forces analysis of the IT spending market in South East Asia?
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IT can be defined as platform consisting of hardware, software, and services. Organizations have IT departments, which are responsible for storing, protecting, processing, and retrieving the required information. IT enables a continuous flow of information in an organization. By considering an extensive research approach of qualitative and quantitative data collection methods and by covering multiple factors including the growing demand for an array of products across several geographical regions, forthcoming trends in consumers purchasing patterns, prominent competitors, growth potential, and challenges; research analysts at the global market research firm Technavio deliver a comprehensive collection of industry research reports on the various aspects of the ITO and BPO, IT professional services, enterprise applications and cloud computing sectors, which are an integral part of the ICT sector industry.
To precisely predict the industrys growth prospects, our analysts follow a corroborative approach of primary and secondary research techniques and also perform a detailed analysis of the multiple facets, such as advancements in technology and the trend in consumer demand for different products and services across various geographical regions. Also, to help clients gain crucial insights, our upcoming industry research report on IT spending market in South East Asiafor the predicted period of 2017 to 2021 offers actionable insights derived from the data collected from various sources such as manufacturers, channel partners, regulatory bodies, and decision makers.
This impending research report on IT spending market in South East Asiaalso considers the growth of the similar markets such as global software testing market and engineering services outsourcing market, that are predicted to steadily grow at a CAGR of around 14% and 26% and during the period 2017 to 2021. As predicted by our market research analysts, the exponential rise in the adoption of the internet of things (IoT) in countries like Singapore and Malaysia is expected to drive growth in the IT market in South East Asia. The IoT is an inter-connected network of physical, tangible devices that are interconnected through technology and can communicate among themselves and with the internal and external environment. It connects hardware devices, embedded software, communication services, and IT services. Moreover, it creates smart communication environments such as smart homes, smart shopping, smart transportation, and smart healthcare.
The upcoming industry research report for the IT spending market in South East Asiaalso identifies the primary drivers, and imperative trends coupled with the challenges currently experienced by the IT services sector. It also presents a detailed insight into the changing vendor landscape to give you a precise insight of the future of the ICT industry.