ICT Sector Summary
/Sector Summary: Information & Communication Technologies in South Asia
Many factors contribute towards South Asia's international reputation as both a leading manufacturing complex and a major commercial centre within the world. While many factors such as the economic policy of free enterprise and free trade, the rule of law, a well educated and industrious workforce, a sophisticated commercial infrastructure, as well as development of ports and airport which are among the world’s finest are important, an emerging factor that attracts the attention of the world to this specific region is the fast-paced growth of their I.C.T Sector.
As a student interested in learning more about investments geared towards the Technology, Media, and Telecommunication industries, I have been a keen observer of the way the improvements in technology and infrastructure have affected the regions' society and culture. As a race that heavily values the concept of efficiency and effectiveness, it is only inevitable that the way people communicate has shifted tremendously in the last decade. Unlike in the North American society, the Asian world is heavily reliant on smartphone as well as portable technologies, up to a point that this technology is subtly being integrated to everyday tasks such as ordering a cup of coffee through the use of E-Wallets and booking a taxi through SMS messages.
While there is large variance across Asia's ICT infrastructure landscape, there are centralized themes and factors driving innovation and development, largely deriving from the region's increasing economic integration, which in turn has several important effect for ICT technology purchase. Intra-regional trade and investments as well as increasing foreign demand has made South Asia one of the world's fastest-growing economic regions. The fact that carriers and enterprises largely avoided the global Financial Crisis has proved that it is more convenient for them to make decisions on next-generation technology, such as the introduction of Long-Term Evolution technology and other 4G mobile upgrades.
This economic robustness, and the continuous cycle of regional integration that has supported it, has also facilitated cross-ownership in telecommunication and particularly mobile network operations. An example of this would be Singapore's SingTel as well as Malaysia's Axiata who hold stakes in operators in Thailand, Indonesia, and other ASEAN nations.
As well, the Asian nations are currently experiencing difficulties while dealing with the flow of information. The growing concern has led the Asian market to become early adopters of technology that has just been introduced to the North American and European markets. By transferring most of their collection to the Cloud servers and technology, government organizations and multinational corporations that are headquartered in South Asia has been able to centralize their database and reduce the need for manual I.T tasks, allowing their human capital to automate their systems and allocate more of their efforts in developing strategies.
In conclusion, I can say that I was tremendously enlightened by the rapid growth of the ICT industry of South Asia. Through such growth, I was able to determine three key opportunities that could potentially rise from this on-going trend: Wireless Build, Next Generation Networking, and Mobile Media. These three sector are not as well promoted to the Western world, however, shows promising future for investors as they are all experiencing fast-paced growth. By providing services dealing with Wireless Broadband technologies, I.T Solutions (Hardware and Software), and mobile content services, there is no doubt that Canadian investors and entrepreneurs could see success in the years to come.
by Andrew Shon, Junior Team Canada Ambassador
University of Manitoba
Winnipeg, Manitoba