MDEC’s commissioned study shows Malaysia’s big data analytics market expected to grow to US$1.9b by 2025
Kuala Lumpur (May 17): The big data analytics (BDA) market in Malaysia is expected to grow to US$1.9 billion (about RM7.85 billion) in 2025, from US$1.1 billion in 2021, according to Malaysia Digital Economy Corp’s (MDEC) commissioned study by IDC.
The study noted that the services sector will contribute 64% of total data-driven spending, with the banking and telecommunications sectors contributing nearly a third, MDEC noted in a statement on May 10.
MDEC senior vice-president for investment and brand cum chief marketing officer Raymond Siva said the COVID-19 pandemic had been a game changer in terms of demand for BDA, backed by surging demand for data and cloud services. He added that companies investing in BDA will continue to expand their presence by having Malaysia as a base for their regional and global businesses and operations to manage their core functions.
