Asia/Pacific ICT spending to exceed $1.5 Tn in 2021

Asia/Pacific excluding Japan (APeJ) ICT spending, including new technologies will reach $1.5 trillion in 2021, according to the latest IDC Worldwide Black Book.

IDC also estimates that innovation accelerators such as 3D printing, AR/VR, cognitive AI, IoT, robotics and security will grow 16.6% compound annual growth rate (CAGR) from 2016-21, or at a faster pace than four pillar technologies like big data & analytics, cloud, mobility and social, which is projected to grow at 5.2% CAGR.

“Innovation accelerators, including Internet of Things (IoT) solutions, robots and drones, augmented reality and virtual reality (AR/VR) headsets, and 3D printers will account for almost 40% of the total ICT spending by 2021 estimated around $619.1 billion,” said Ashutosh Bisht, Research Manager for Customer Insights and Analysis, IDC Asia Pacific.

China accounts for 60.7% of the overall 3rd platform ICT spending in 2018, followed by ASEAN countries with 29.2% share. Meanwhile, India will observe double-digit growth rate with CAGR of 11.1% for the five-year forecast period (2016-21), followed by the Rest of Asia/Pacific (developing) with a CAGR of 9.7%.

The latest version of IDC’s Worldwide Black Book includes forecasts for 33 countries segmented by 44 technologies and 11 platforms. IDC defines the 3rd Platform as a leading driver and force of innovation consisting of the Four Pillars of cloud, mobility, big data & analytics, and social, plus the Innovation Accelerators of IoT, robotics, cognitive AI, AR/VR, 3D printing and next-generation security.

 

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