Top 10 tech trends set to drive Malaysia’s IT sector
Over 21 per cent of Malaysia’s GDP will be digitalised by 2022, with the digital economy central to its journey towards becoming a high-income nation.
That’s according to new research from IDC, outlining the top 10 predictions for the Malaysian IT industry in 2019 and beyond.
“In its journey towards achieving greater economic progress, Malaysia needs to do more to unlock the full potential of its digital economy,” said Baseer Siddiqui, senior research manager of ASEAN at IDC.
“Industries in Malaysia must transform themselves by adopting best practices and emerging technologies in order to sustain and be able to compete in a highly connected and competitive world.
“The government and IT vendors have a major role to play in setting up right policies, development of talent, and implementation of right solutions to help end- user enterprises thrive and grow the digital economy of Malaysia.”
Furthermore, digitalisation across Malaysia is expected to drive an estimated US$82 billion in IT-related spending from 2019 through 2022.
The adoption of emerging technologies is expected to be one of the key drivers in future economic growth, according to IDC.
The recent budget focusing on Industry 4.0 blueprint, titled “Industry4WRD”, is a right step, according to IDC, towards helping businesses especially SMEs to rapidly adopt third platform technologies.
Furthermore, financial institutions, telecommunications, media, and retail industry are the leading industries that have successfully started to digitally transform and align their overall strategy with Malaysia’s digital strategy.
“The adoption of emerging technologies such as artificial intelligence, robotics and internet of things has enabled businesses across industries in Malaysia to start realising the desired outcomes such as improved customer experience, better workforce efficiency, new revenue streams and business models, but the number of success stories are still small compared to other matured digital economies,” said Siddiqui.
“There is greater need to enable digital success at bigger scale, and to achieve it every stakeholder has to work in tandem with a comprehensive and actionable roadmap.”