Final consumption expenditure on ICT products in Malaysia showed substantial growth from 2015 to 2023, reaching 105.76 billion Malaysian Ringgits in 2023. The year-on-year variations indicated robust initial growth, such as a 9% increase in 2016, before stabilizing in recent years with a 2.07% increase in 2023. The CAGR over the last five years was 1.52%, reflecting a general slowdown in growth compared to earlier periods.
The forecast for 2024-2028 projects steady growth, with the final consumption expenditure expected to reach 116.97 billion Malaysian Ringgits in 2028. The forecasted five-year CAGR stands at 1.59%, indicating consistent albeit modest growth.
Future trends to watch for include the increasing integration of ICT in various sectors, which could stimulate higher consumption, and the impact of emerging technologies like 5G, AI, and IoT, which may drive further investments and expenditures.