The technology sector in ASEAN has been growing rapidly from computing hardware, semiconductor, communications equipment, research and development to enterprise software, big data, e-commerce, social media and the recent rise in demand for artificial intelligence, internet of things and cloud computing.
Looking ahead, internet companies will continue to grow along with online trends such as e-commerce and mobile payments while semiconductors and hardware will benefit as rising consumption increases demand for big data, internet of things and electric driving.
While technology companies continue to build market share, they also face greater challenges with, for example, public trust issues relating to data privacy. Huge amounts of personal data from consumers, businesses and institutions will be collected as technology companies drive the adoption of digital business models. If personal data is not handled well, trust will be eroded between companies and their customers. Cybersecurity risk is another challenge for the sector as attacks have focused on both data and networks has increased significantly.
Our Grant Thornton ASEAN professionals combine industry knowledge with technical experience to provide the right course of action; whether it is strategy development, exploring potential long-term or short-term business plans, identifying business risks and potential obstacles. With our forward-thinking approach, we can help you to identify the growth potential of your company, whether it is local or regional.