Malaysia ICT Market Size and Forecast (by IT Solution Area, Size Band and Vertical) to 2027
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Malaysia ICT Market Overview
The Malaysia ICT market size was valued at US$ 20.31 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 17.29% to reach a value of US$ 45.08 billion by 2027. The cumulative revenue generation for ICT providers in Malaysia is estimated at US$ 185.49 billion for 2022-2027.
Malaysia ICT Market Outlook, 2022-2027 (in US$ Billion)
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The ‘Malaysia ICT Market’ opportunity forecast report provides the total addressable market for ICT products/services in Malaysia from 2019 to 2027.
Market Size (2022) | US$ 20.31 billion |
Market Size (2027) | US$ 45.08 billion |
CAGR (2022-2027) | 17.29% |
Key IT Solutions | • Application Development and Management (3 Products/Services)
• Artificial Intelligence (4 Products/Services) • Business Process Applications (9 Products/Services) • Business Process Outsourcing (6 Products/Services) • Client Computing (10 Products/Services) • Cloud Computing (7 Products/Services) • Communications and Collaboration (10 Products/Services) • Consulting & Integration Services (3 Products/Services) • Data and Analytics (6 Products/Services) • Data Center and Hosting (2 Products/Services) • Edge Computing (11 Products/Services) • Internet of Things (IoT) (3 Products/Services) • IT Management (11 Products/Services) • Mobility (5 Products/Services) • Networking (18 Products/Services) • Security (17 Products/Services) • Servers (4 Products/Services) · Storage (7 Products/Services) |
Key Verticals | · Communication
· Construction · Consumer Goods · Education · Energy · Financial Markets · Foodservice · Government · Healthcare · Information Technology · Insurance · Manufacturing · Media · Medical Devices · Mining · Others · Pharmaceuticals · Retail · Retail Banking · Transport and Logistics · Travel and Leisure · Utilities |
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Malaysia ICT Market Segmentation by Vertical
In terms of vertical end-use segments, the manufacturing sector held the highest market share of 12.1% in 2022, followed by the energy sector. The travel and leisure sector is expected to be the fastest-growing segment, at an estimated CAGR of 24.89%, during the forecast period.
Malaysia ICT Market Share by Verticals, 2022 (%)
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Scope
This product provides revenue opportunity forecasts for ICT products/services in Malaysia from 2019 to 2027, spanning 18 IT Solutions and 133 products/services. The details of the IT solutions and the corresponding products/services have been provided. The forecast data has been provided for 5 employee size bands.
Key Highlights
- The ICT market in Malaysia is expected to grow at a CAGR of 29% over the forecast period.
- The country’s top three product/service categories – IoT Hardware, IoT Software, and Systems Design and Integration.
- IoT Hardware is expected to be the leading ICT product/service segment in Malaysia during the forecast period.
Reasons to Buy
- Assess the historical data (past 4 years), current state, and expected growth (next 5 years) of the ICT market in Malaysia.
- Identify the fastest-growing products/services within the Malaysia ICT market.
- Determine the most lucrative vertical for ICT in Malaysia, considering their current contribution to the overall Malaysia ICT market and their expected input toward the growth of the market over the next 5 years.
- Identify products/services that would contribute toward the growth of the ICT market in Malaysia over the next 5 years.
- Get a thorough, forward-looking analysis of Malaysia ICT trends and key opportunities in a concise format to build proactive and profitable growth strategies.
Frequently asked questions
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What was the Malaysia ICT market size in 2022?
The Malaysia ICT market size was estimated at US$ 20.31 billion in 2022 and is expected to reach US$ 22.58 billion in 2023.
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What will the Malaysia ICT market growth be by 2027?
The Malaysia ICT market is expected to grow at a compound annual growth rate of 17.29% over the forecast period, to reach US$ 45.08 billion by 2027.
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Which industry vertical led the Malaysia ICT market in 2022?
The manufacturing sector was the largest Malaysia ICT vertical with 12.1% market share in 2022.
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Which type of products/service led the ICT market in Malaysia in 2022?
The IoT Hardware segment dominated the Malaysia ICT market in 2022 with a revenue share of more than 9.4%.
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