ICT spending in Asia Pacific is expected to grow by over 7.1 percent to reach $950 billion in 2021 and is expected to reach $1.1 Trillion by 2025, according to IDC.
Professional Services expect the highest year-on-year growth within the Distribution and Services sector right through the forecast period. The digital journey across the Professional Services sector has remote working as one of its priorities and has invested in upgrading for faster operations.
Personal and Consumer Services follow with second-highest growth compared to all other verticals as countries have started to allow travelers with utmost caution. Leisure and business travel activities show the highest growth in 2021 after a complete slowdown.
“Financial, Infrastructure, Transportation and Media sectors realized improved operational efficiency, customer satisfaction, and innovation in services post their digital transformation investment,” said Vinay Gupta, Research Director, IT Spending Guide, IDC Asia Pacific.
Very Large Businesses (1000+ employees) will hold the largest market contributing to almost half of the ICT spending with expected growth of 7 percent year-on-year for 2021. These enterprises will shift or add close to 45 percent of their technology budget to either address COVID-triggered business change or make the organization more competitive.