APAC tech market to grow 4.5% in 2014
The Asia-Pacific technology market is forecast to maintain growth at 4.5% in both 2014 and 2015, according to Forrester Research.
Also, the market's 2014 value will equal Western and Central Europe at $516 billion, accounting for close to one-quarter of the global tech market spending.
Across the region, the growth will be unevenly spread, with the ASEAN, China and India to grow by 7% or more, while Japan – which remains the largest market in the region -- and Australia by 2% to 3%, respectively.
China will continue to be the second-largest market in the region, with 7.7% growth. Japan remains the largest tech market but will grow by just 2%.
India and the ASEAN countries will see growth of 7% or more, while tech markets in Australia will expand by less than 3%.
Forrester notes that the major Asian economies of Australia, China, India, Japan, and South Korea — along with smaller economies like Vietnam and Malaysia — have each been on seesaws of accelerating and decelerating growth.
Moreover, those seesaws are not moving in the same direction — while the economies of India, South Korea, Taiwan, and Vietnam experienced stronger growth in 2013 than in 2012, those of Australia, Indonesia, Japan, Malaysia, and Thailand slowed down, and China and Japan stayed the same.
This pattern will continue in 2014 and 2015, with the economies of China and Japan slowing while most other economies accelerate, according to Forrester.
Asia-Pacific markets for software, IT consulting and systems integration services, and IT outsourcing services will mostly increase by around 6%. Computer and communications equipment -- still the largest parts of the regional tech market -- will rise by 4% to 5%.