In 2023, the total supply of ICT products in Malaysia stood at 871.32 Billion Malaysian Ringgits. Based on the forecasted data, the supply is projected to grow steadily over the next five years, reaching 950.54 Billion Malaysian Ringgits by 2028. The year-on-year variation shows an average growth rate ranging from approximately 1.83% to 1.85%. Overall, the Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is expected to be around 1.79%, indicating a consistent upward trend in the market.
Future trends to watch for:
- Increased adoption of emerging technologies such as 5G, AI, and IoT, driving higher demand for ICT products.
- Government initiatives and investments in digital infrastructure enhancing market growth.
- Growing importance of cybersecurity solutions as digital transformation accelerates across various industries.