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Research report predicts it will grow four-fold by 2025.
SINGAPORE : South-East Asia's Internet economy, spanning online travel to ride-hailing will reach US$ 50 billion this year-
Putting it on a solid trajectory to grow four-fold by 2025, according to a joint research by Google and Temasek Holdings Pte.
As more consumers buy airline tickets and book hotels through smartphones, the region's online travel market expanded from US$ 19.1 billion in 2015 to US$ 26.6 billion in 2017, according to a report the two companies released yesterday.
The research covered four key sectors of the Internet economy : travel, media, ride-hailing and e-commerce.
Online shopping and ride-hailing have come into focus as Grab, Uber Technologies Inc and Go-Jek capture consumer preferences with evolving business models.
Of the US$12 billion of capital invested in South-East Asian Internet companies since 2016, US$ 9 billion was raised by its unicorns, or startups with more than US$ 1 billion valuations.
The region, which includes Singapore, Indonesia and Malaysia, raised just US$ 1 billion in 2015.
This shows how global and regional investors have favored the largest and most established Internet companies,'' the report said.
The growth is being driven by a surging number of new smartphones users. South East will have 330 million active Internet users by the end of 2017 -equivalent to the size of the US population -after adding more than 70 million users since 2015
E-commerce sales of new goods will reach US$ 10.9 billion in gross merchandise value in 2017, almost double their level in 2015, according to the report.
South-East Asia's ride-hailing market, which is fiercely contested by Grab, Uber and Go-Jek is expected to double from 2015 to US$ 5.1 billion in 2017 before reaching US$ 20,1 billion in 2025.
''Millions of users transact and play on their platforms on a daily basis, giving them a a head start as they aim to build digital payment services accepted by online and offline merchants,'' the report said.
SINGAPORE : South-East Asia's Internet economy, spanning online travel to ride-hailing will reach US$ 50 billion this year-
Putting it on a solid trajectory to grow four-fold by 2025, according to a joint research by Google and Temasek Holdings Pte.
As more consumers buy airline tickets and book hotels through smartphones, the region's online travel market expanded from US$ 19.1 billion in 2015 to US$ 26.6 billion in 2017, according to a report the two companies released yesterday.
The research covered four key sectors of the Internet economy : travel, media, ride-hailing and e-commerce.
Online shopping and ride-hailing have come into focus as Grab, Uber Technologies Inc and Go-Jek capture consumer preferences with evolving business models.
Of the US$12 billion of capital invested in South-East Asian Internet companies since 2016, US$ 9 billion was raised by its unicorns, or startups with more than US$ 1 billion valuations.
The region, which includes Singapore, Indonesia and Malaysia, raised just US$ 1 billion in 2015.
This shows how global and regional investors have favored the largest and most established Internet companies,'' the report said.
The growth is being driven by a surging number of new smartphones users. South East will have 330 million active Internet users by the end of 2017 -equivalent to the size of the US population -after adding more than 70 million users since 2015
E-commerce sales of new goods will reach US$ 10.9 billion in gross merchandise value in 2017, almost double their level in 2015, according to the report.
South-East Asia's ride-hailing market, which is fiercely contested by Grab, Uber and Go-Jek is expected to double from 2015 to US$ 5.1 billion in 2017 before reaching US$ 20,1 billion in 2025.
''Millions of users transact and play on their platforms on a daily basis, giving them a a head start as they aim to build digital payment services accepted by online and offline merchants,'' the report said.
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