22 Nov Southeast Asia Tech Market – $1 Trillion USD by 2025
Southeast Asia Tech market will be worth 1 Trillion USD in 2025, based on experts.
According to Crunchbase, appetites are changing—investors and entrepreneurs alike are looking beyond tech mecca Silicon Valley for a slice of the startup pie in Southeast Asia.
Even with the pandemic, investors are certainly bullish about the Southeast Asia region’s enormous growth potential and opportunities, with SEA tech startups raising an impressive 8.2 Bil USD just in 2020.
A fund, Jungle Ventures estimates that the combined valuation of SEA tech startups is expected to increase by more than 3-folds in merely just 5 years, from 340 Bil USD to 1 Tri USD in 2025.
According to a report by Temasek and Bain & Co., SEA as a region is experiencing rapid expansion of its population coming online at ‘breakneck’ speed, with 40 million new users having joined in 2020.
While this trend may have been shaped due to the pandemic, the report also stated that 94% of new digital consumers intend to continue using digital services even after the pandemic.
It is key to note that SEA’s digitally savvy population makes it possible for the single markets in the region to grow tremendously.
Based on the article, “The time to invest in Southeast Asia’s tech ecosystem could not be any better—a nascent ecosystem means opportunities abound, and one should enter the market now to fully reap the growth opportunities available.”
As NAOS International, we have been advising our clients on expanding their team into Singapore with market insights and senior candidate network we have all across Asia. Are you planning to expand into Asia? Get in touch with us for more details.
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