Market Share of ASEAN Digital Transformation Industry
The ASEAN Digital Transformation Industry market is fragmented, with major players and numerous regional companies. Key players in the market are adopting strategies such as partnerships, agreements, innovations, and acquisitions to enhance their service offerings and gain a sustainable competitive advantage.
• June 2024 - ByteDance, the Chinese tech giant behind TikTok, earmarking approximately CNY 10 billion (USD 2.13 billion) to establish an artificial intelligence hub in Malaysia. This move aligns with a trend of major tech players venturing into Southeast Asia. Additionally, ByteDance is bolstering its data center presence in Malaysia's Johor state, injecting an extra CNY 1.5 billion into the expansion, as Malaysia's Ministry of Investment, Trade, and Industry confirmed.
• April 2024 - Myanmar's premier privately-owned bank, KBZ Bank, forged a strategic alliance with FinbotsAI, a Singaporean AI credit scoring company. This collaboration aimed to enhance KBZ Bank's credit risk management. Under this partnership, KBZ Bank will integrate FinbotsAI's cutting-edge credit modeling platform, CreditX, to evaluate the creditworthiness of its retail and SME applicants with heightened precision and speed.
ASEAN Digital Transformation Market Leaders
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Accenture PLC
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Google LLC (Alphabet Inc.)
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Siemens AG
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IBM Corporation
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Microsoft Corporation
*Disclaimer: Major Players sorted in no particular order
