February 22, 2024

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Malaysia: top ten tech predictions for 2019

According to a recent report, a provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets recently revealed its top predictions for the Malaysian IT industry for the year and beyond.

The company predicts that by 2022, over 21% of Malaysia’s gross domestic product (GDP) will be digitalised against the current level of 18%.

Growth is expected in every industry driven by digitally-enhanced offerings, operations, and relationships, driving US$82 billion in IT-related spending from 2019 through 2022.

This was revealed at the firm’s event in Kuala Lumpur earlier which aimed to provide enterprises with a framework for evaluating its IT initiatives in terms of value to business strategy within a typical three-year business planning cycle.

The firm believes that Malaysian financial institutions, telecommunications, media, and retail industry are the leading industries that have successfully started to digitally transform and align their overall strategy with Malaysia’s “Industry4WRD” digital strategy.

However, senior research manager of the firm noted that there is more to be done in the nation’s journey towards achieving greater economic progress.

It was also noted that Malaysia needs to do more to unlock the full potential of its digital economy. Industries in Malaysia must transform themselves by adopting best practices and emerging technologies to sustain and compete.

In a panel discussion with Malaysia Digital Economy Corporation’s (MDEC’s) vice president of growth ecosystem development highlighted that Malaysia has good policies in place but questioned its implementation and the collaboration between different agencies.

An expert stated that while 98% of companies incorporated in Malaysia are SMEs, their contribution to the Malaysian economy is low in comparison (35%). He added that the mindset around SMEs needs to change; the government provides a platform for this and SMEs should work to capture these opportunities.

Thus, the telecom firm’s top 10 IT industry predictions for the next few years are:

  1. Digitalised Economy:

Over 21% of Malaysia’s GDP will be digitalised by 2022, with growth in every industry driven by digitally-enhanced offerings, operations and relationship – driving US$82 billion in IT-related spending from 2019 through 2022. There is a chance of higher growth if the economy does well.

While the RM5 billion budget earmarked to drive Industry 4.0 exists, the funds have not been disbursed yet. The money will need to be spent on technology to see growth.

  1. Digital-native IT:

By 2023, 70% of all IT spending will be on 3rd platform technologies, as over 50% of all enterprises build “digital-native” IT environments to thrive in the digital economy. Multicloud adoption is on the rise and solutions provided by companies’ trusted IT suppliers may no longer fit in with what the company needs.

  1. Expand to the Edge:

By 2022, over 25% of organisations’ cloud deployments will include Edge computing, and 25% of endpoint devices and systems will execute artificial intelligence (AI) algorithms. The senior research manager noted that edge computing provides a lot of benefit in terms of reducing network usage and lessening the load on the main data centre.

  1. AppDev revolution:

By 2022, 60% of all new apps will feature microservices architectures that improve the ability to design, debug, update and leverage on third-party code and 25% of all production apps will be cloud-native.

  1. New developer class:

By 2024, a new class of professional developers producing code without custom scripting will expand the developer population by 20% — accelerating digital transformation.

  1. Digital innovation explosion:

From 2018 to 2023, with new tools/ platforms, more developers, agile methods and lots of code reuse, 4.0 million new logical apps will be created in Malaysia. Globally, 500 million apps are expected to be built.

  1. Growth through specialisation:

By 2022, 20% of public cloud computing will be based on non-x86 processors including quantum. Organisations will spend more on vertical SaaS apps than horizontal apps.

  1. AI is the new UI:

By 2024, AI-enabled user interfaces and process automation will replace one-third of today’s screen-based apps. By 2022, 20% of enterprises will use conversational speech tech for customer engagement.

  1. Expanding or scaling trust:

By 2023, 30% of servers will encrypt data at rest and in motion. Over 20% of security alerts will be handled by AI-powered automation and three million people will have blockchain-based digital identities.

  1. Consolidation vs Multicloud:

By 2022, the top four cloud platforms will host 80% of Infrastructure as a Service (IaaS) or Platform as a Service (PaaS) deployments, but by 2024, 90% of Malaysia 100 (M100) organisations will mitigate lock-in through multicloud or hybrid technologies and tools.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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