Forecast: Computer and Information Service Activities Revenue in Malaysia

The computer and information service activities in Malaysia have shown substantial growth over the past decade. The industry experienced a steady increase from 14.66 billion MYR in 2015 to 22.0 billion MYR in 2023. The year-on-year growth rates fluctuated, with notable increases in 2017 (7.67%) and 2018 (8.36%), eventually tapering to more modest growth rates in recent years, such as 3.74% in 2022 and 3.03% in 2023. The compound annual growth rate (CAGR) also reflected this trend, decreasing from 7.21% in 2019 to 3.25% in 2023.

Looking forward, the market is forecasted to continue its upward trajectory, growing to 24.6 billion MYR by 2028. However, the expected CAGR from 2024-2028 indicates a deceleration to 1.71%, suggesting a maturation of the market. Overall, the 5-year growth rate is projected to be 8.85%, indicating steady yet slower expansion compared to the past decade.

Future trends to watch for include advancements in cloud computing, increasing demand for cybersecurity services, and the potential impact of emerging technologies such as artificial intelligence and the Internet of Things (IoT), which could drive even more growth in the sector. Additionally, geopolitical and economic factors may influence the market dynamics and growth projections in the coming years.