Wednesday, 14 April 2021 06:35

IDC sees Asia-Pacific IT spend reaching $1.2b this year

By
IDC sees Asia-Pacific IT spend reaching $1.2b this year Image by Photo Mix from Pixabay

Spending on IT in the Asia-Pacific region, excluding Japan, is expected to grow by about 4.9% and reach US$924 million (A$1.2 billion) this year, and US$1 trillion by 2024, the technology analyst firm IDC says.

Consumer demand had grown due to the lifting of lockdowns necessitated by the COVID-19 pandemic, it said, and as vaccine rollouts gathered pace, economic activity was expected to pick up.

The IDC post said quicker adoption in businesses that were moving towards digitisation and improvements in offerings were lifting technology spending. Additionally, supply chains, affected by the pandemic, were gradually improving in the Asia-Pacific, leading to a rise in production and more supply to the global market.

In January, another analyst firm, Gartner, predicted that global spending on IT would rise by 6.2% in 2021 year-on-year and reach US$3.9 trillion.

“Government bodies within the region have launched various initiatives to revive the economy, indirectly allowing enterprises to allocate budgets to improve both product offerings and digital adoption,” said Mario Allen Clement, senior market analyst for IDC IT Spending Guides, Customer Insights and Analysis.

IDC said businesses in the personal and consumer services sector would see the biggest bump in 2021 as tourism was a major earner in the Asia-Pacific region.

The next best performer is expected to be the construction sector.

“With COVID numbers on the rise, available vaccines are helping governments and the public to be prepared well in advance," said Ashutosh Bisht, senior research manager for IDC IT Spending Guides, Customer Insights and Analysis.

"The economic indicators across the region suggest a bounce-back across the sectors, as a majority of sectors have reached their pre-COVID level production levels.”

The IDC note said the banking and telecommunications industry, apart from the consumer segment, would make up the biggest (29%) portion of the spending in 2021. Banking is expected to show 5.9% growth while telecommunications spend is forecast to be higher, at 6.6%.


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments