Forecast: Final Consumption Expenditure on ICT Goods in Malaysia

The forecasted final consumption expenditure on ICT goods in Malaysia from 2024 to 2028 shows a steady increase, starting at 22.55 billion Malaysian Ringgits in 2024 and reaching 23.99 billion Malaysian Ringgits by 2028. Year-on-year variations indicate a consistent annual growth rate of approximately 1.64% to 1.50%, reflecting a stable demand for ICT goods. In 2023, the final consumption expenditure stood at 22.20 billion Malaysian Ringgits, showcasing an overall positive trend over the forecast period. The compound annual growth rate (CAGR) is anticipated to be around 1.57% from 2024 to 2028.

Future trends to watch for include the impact of emerging technologies such as 5G, artificial intelligence, and the Internet of Things (IoT), which are likely to drive further demand for ICT goods. Additionally, increasing digitalization across various sectors and government initiatives to promote a digital economy could further accelerate expenditure in this segment. Monitoring global economic conditions and their influence on consumer spending and investment in ICT will also be crucial for predicting future market dynamics.