South-east Asia’s tech giants set for steady growth despite post-Covid challenges
Total addressable market across e-commerce and on-demand services is projected to increase at a compounded annual growth rate of 15% to reach US$416 billion by 2030
Add BT as a preferred source
SOUTH-EAST Asia’s tech giants such as Grab and Sea are poised to continue with steady growth ahead, analysts say, even as the Covid-19 pandemic-led surge in digitalisation subsides.
Maybank Research noted that the total addressable market (TAM) across e-commerce and on-demand services such as food delivery and ride hailing in the region is projected to increase at a compounded annual growth rate of 15 per cent to reach US$416 billion by 2030.
The engines for regional growth in gross merchandise value – or the total value of merchandise sold on a platform – include a growing middle class and behavioural shifts, market watchers pointed out.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
PayPal plans job cuts as its new CEO pursues turnaround strategy
MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams
