Published: 13 February 2024
The APAC market is an important growth engine for IT services providers, but its fragmented nature makes it hard to penetrate. Technology general managers can use this document to identify growth opportunities and unique market dynamics to support growth planning for 2024.
The regions with the highest five-year compound annual growth rate (CAGR) for IT services in APAC in 2024 are Indonesia (21%), Taiwan (21%), Malaysia (15%), India (15%) and China (15%), although Indonesia, Taiwan and Malaysia have a much smaller spending base.
Across the largest IT spending markets in APAC, most of the top vendors are regional players. This indicates a preference for localized capabilities, contextualization and customer trust created over time as contributory factors to competitive dynamics.
Industry IT services spending remains in line with the previous forecast. The highest year-over-year growth in 2024 are expected to come from healthcare
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Analysts:
Hai Swinehart, Chrissy Healey, Kiyomi Yamada, Katie Gove, Rika Narisawa
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