The South Asia region is an extremely dynamic market with a huge economic potential, said Symantec's vice president for the Asia South Region, Eric Hoh. He was addressing some 150 senior executives from the region present for the cyber security firm's Partner Engage conference in Hong Kong on 15 September 2011.
Hoh noted that South Asia’s importance as an economic region has been under-estimated relative to its Western peers. On the contrary, he indicated, the region as a whole is economically large and boasts a gross domestic product (GDP) of US$3.5 trillion.
Moreover, according to Hoh, there tends to be a general perception that Asia is conservative when it comes to the adoption of new technology. Debunking that notion, Hoh said South Asia is staying on top of trends such as mobility with about one million mobile subscribers.
"The region is at the forefront on new technology and trends," highlighted Hoh. The adoption of cloud, for instance, has accelerated sharply among enterprises in the region, he said. “This can be seen with the adoption of Symantec's cloud services, which ranges from small to large enterprises across the region," he noted.
2012 IT spending
“IT spending in the region (next year) will hinge on what happens (to the economy) now till year-end,” said Philip Carter, associate vice president, services, application software, green IT and sustainability for IDC Asia Pacific, who also presented at the Symantec conference. Even so, IT spending across the region is expected to remain upbeat based on feedback from the research house's customers, he said.
India predominantly will account for a significant part of the region's upbeat IT budget, said Carter.
Emerging Asian enterprises "hungry for growth" are expected to drive IT spending, he added. These enterprises span across four verticals namely banks, telcos, transport, and manufacturing, Carter indicated.
Some of these companies, noted Carter, are Singapore's DBS and OCBC banks, Singapore's Singtel and India's Bharti telecommunications companies, Malaysia's Air Asia and Singapore's NOL from the transportation sector, and India's Mahindra from the manufacturing vertical.
According to Carter, one of the reasons for the positive outlook on IT spending among the emerging Asian enterprises across the region is that the top executives in these companies understand the benefits of IT to drive business growth.
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