27 May 2018
Innovation accelerators are expected to drive ICT Growth with CAGR of 16.6% over 2016 to 2021
SINGAPORE, May 28th, 2018 – Asia/Pacific excluding Japan (APeJ) information and communications technology (ICT) spending, including new technologies will reach USD 1.5 trillion in 2021, according to the latest IDC Worldwide Black Book: 3rd Platform Edition. IDC also estimates that Innovation Accelerators such as 3D Printing, AR/VR, Cognitive AI, IoT, Robotics, and Security will grow 16.6% compound annual growth rate (CAGR) from 2016-21, or at a faster pace than four pillar technologies like big data & analytics, cloud, mobility, and social, which is projected to grow at 5.2% CAGR.
“Innovation accelerators, including Internet of Things (IoT) solutions, robots and drones, augmented reality and virtual reality (AR/VR) headsets, and 3D printers, will account for almost 40% of the total ICT spending by 2021 estimated around USD 619.1 billion,” said Ashutosh Bisht, Research Manager for Customer Insights and Analysis, IDC Asia Pacific. In terms of contribution to total ICT spending, the share of the four pillars to overall APeJ market will decline from 49.7% in 2017 to 43.9% in 2021.
China accounts for 60.7% of the overall 3rd platform ICT spending in 2018, followed by ASEAN countries with 11.5.% share. Meanwhile, India will observe double-digit growth rate with CAGR of 11.1% for the five-year forecast period (2016-21), followed by the Rest of Asia/Pacific (developing)* with a CAGR of 9.7%.
The latest version of IDC's Worldwide Black Book: 3 rd Platform Edition includes forecasts for 33 countries segmented by 44 technologies and 11 platforms. IDC defines the 3rd Platform as a leading driver and force of innovation consisting of the Four Pillars of cloud, mobility, big data & analytics, and social, plus the Innovation Accelerators of IoT, robotics, cognitive AI, AR/VR, 3D printing, and next-generation security.
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IDC's Spending Guides provide a granular view of key technology markets from a regional, vertical industry, use case, buyer, and technology perspective. The spending guides are delivered via pivot table format or custom query tool, allowing the user to easily extract meaningful information about each market by viewing data trends and relationships.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of IDG, the world's leading technology media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC.
*IDC defines Rest of Asia Pacific (developed) as countries HK, Korea and Taiwan; while ROAP (developing) covers Bangladesh, Sri Lanka, Macau, etc.