Tuesday , May 11 2021

Mobile Internet is Boosting the Internet Economy SEA

The report predicted that the Internet economy in Southeast Asia is expected to grow to $ 240 billion by 2025. That number is $ 40 billion more than an earlier estimate made by companies in 2016.

By the end of 2018, the Internet economy in the region is forecast at about $ 72 billion.

Several years ago, there was concern that there was not enough money available for Southeast Asian technology economy to realize its potential, according to Rohit Sipahimalani, joint head of the Temasek investment group.

"But now, in those three years, you have about $ 24 billion raised in Southeast Asia, which represents about half of what we need in a ten year period to meet the potential," Sipahimalani told the Squawk Box "of CNBC.

"This year, particularly in 2018, the first half of 2018, the total amount was more than US $ 9 billion, which is practically the same as what was raised in 2017," added Sipahimalani.

Several prominent start-ups in the region have raised funds: Giant Grab said it is on track to raise $ 3 billion by the end of the year. Indonesian rival Go-Jek would have raised $ 1.5 billion in funds in February.

Anandan also said that Southeast Asia's e-commerce market is the fastest growing in the world with 2018 gross merchandise value – a key industry metric that measures the dollar's total value of goods sold online – and is expected to reach US $ 23 billion.

"This year, the e-commerce industry has grown more than 100% year on year, and we have 120 million consumers who buy online with the top three players – Shopee, Tokopedia and Lazada, who now account for 70% of that market. ," he said.

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