MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

According to recent developments, the internet economy growth of Southeast Asia is all set to reach $105 billion

According to recent developments, the internet economy growth of Southeast Asia is all set to reach $105 billion

Southeast Asia's internet economy is all set to hit the $105 billion mark this year.  Due to the ongoing pandemic, the consumers are stuck indoors and mostly prefer online mode for shopping, food delivery, and entertainment. According to the reports covering Vietnam, Malaysia, the Philippines, and Singapore, 40 million new users have received internet access. This shows that almost 70 percent of the region has chosen to go online. Temasek Holdings has reported that the Covid19 pandemic has brought in a permanent change and massive adoption of digital technologies. When compared to the previous year’s growth, this year has witnessed a 5 percent spurt. In the ongoing tussle in the retail segment, online retailers have broken out as winners. Most of the users now prefer to shop online, and ecommerce has grown by almost 63 percent.

Continued growth during the pandemic has created new unicorn companies like Go-Jek and Grab. The region’s startups have attracted many venture capitalists to invest billion from global investment companies and tech firms. Singapore's Internet economy has grown by 24 percent even though the country’s travel sector was significantly affected by the pandemic. However, the online segment is all set to achieve a whopping $309 billion gross by the end of 2025. 

YOU MAY ALSO LIKE

Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

RECOMMENDED