{"id":19584,"date":"2021-06-02T09:47:27","date_gmt":"2021-06-02T02:47:27","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=12548"},"modified":"2021-06-04T16:13:20","modified_gmt":"2021-06-04T09:13:20","slug":"indonesias-tech-sector-to-grow-exponentially-in-3-years-with-projections-of-up-to-300-billion","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/indonesias-tech-sector-to-grow-exponentially-in-3-years-with-projections-of-up-to-300-billion\/","title":{"rendered":"Indonesia\u2019s tech sector to grow exponentially in 3 years, with projections of up to $300 billion"},"content":{"rendered":"

The market is currently worth USD40 billion, with\u00a0<\/span>a thriving number of unicorn start-ups owing their success to technology<\/span><\/span>\u00a0<\/span><\/p>\n

\"\"
The country is reaching an inflection point in technology, comparable to China in the early 2000s when tech adoption surged swiftly. CreativaImages\/Shutterstock<\/figcaption><\/figure>\n

On Thursday, John Riady, director of PropertyGuru Indonesia Award-winning firm Lippo Group, told\u00a0<\/span>CNBC<\/span><\/a>\u00a0that\u00a0the country\u2019s\u00a0technology sector is currently at an\u00a0inflection point\u00a0and forecasts a substantial growth between\u00a0USD200\u00a0to 300 billion in the next two to three years.<\/span>\u00a0<\/span><\/p>\n

\u201cIndonesia is the most exciting digital and technology market in Asia and arguably the world,\u201d\u00a0said\u00a0Riady, adding that when their group \u201cfirst invested in technology in 2012, the size of the entire technology market in Indonesia was approximately USD100 million. That same asset class today is about\u00a0USD40 billion.\u201d<\/span>\u00a0<\/span><\/p>\n

Lippo Group is among the biggest conglomerates in the country, with businesses in several industries, from real estate and retail to healthcare and telecommunications.<\/span><\/p>\n

Since its first tech venture in 2012, the group now boasts 30 investments in\u00a0Indonesia\u2019s\u00a0tech\u00a0arena,\u00a0including Jakarta-based digital payments platform OVO. He believes that\u00a0the country is reaching an inflection point in technology, comparable to China in the early 2000s when tech\u00a0adoption surged swiftly.<\/span>\u00a0<\/span><\/p>\n

More: Indonesian government bets on middle class to boost home sales and revive pandemic-hit economy<\/strong><\/span><\/a><\/p>\n

Indonesia is the fourth most populous\u00a0country\u00a0with over 275 million people and is the second-largest economy in\u00a0Southeast Asia.\u00a0<\/span>CB Insights<\/span><\/a>\u00a0revealed that it is home to\u00a0unicorn start-ups or private companies that are valued at USD1 billion and above, including OVO and e-commerce firm\u00a0Bukalapak.<\/span><\/p>\n

Investors agree that the country is ready for a digital boom due to the expanding middle class and the increasing number of internet users. Although, some may find the market quite complicated to handle seeing as the population is scattered across 10,000 islands, most with its own language and culture.<\/span>\u00a0<\/span><\/p>\n

Nevertheless, the tech sector\u2019s great potential for growth has enabled internet start-ups to prosper and have caught the eye of foreign investors.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The market is currently worth USD40 billion, with a thriving number of unicorn start-ups owing their success to technology <\/p>\n","protected":false},"author":2,"featured_media":19563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[967,154,452,638,159,582],"class_list":["post-19584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-digital","tag-indonesia","tag-proptech","tag-real-estate","tag-tech","tag-technology","news_country-indonesia","news_author-property-report"],"acf":[],"yoast_head":"\nIndonesia\u2019s tech sector to grow exponentially in 3 years, with projections of up to $300 billion | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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