Prime minister of the country, Najib Razak says the results by 2015 are because of “upwardly mobile” citizens.
The mcommerce sector in Malaysia is now being recognized as one of the fastest growing mobile environment, and the country is crediting its Digital Malaysia initiative for this speedy increase.
By 2015, Malaysia is expecting the mobile sector to have generated $1.1 billion (3.4 billion ringgit).
Malaysia is a country that has openly accepted mobile, and where a significant percentage of the population is already carrying smartphone and tablet devices.
Prime Minister of Malaysia, Najib Razak was quoted in a report, explaining that the mcommerce in the country passed a milestone last year, when the total spending over smartphones and tablets rose from $32.7 million in 2010 to $151.2 million in 2011. This was an explosive spending jump of 370 percent and represented one quarter of all online purchases last year.
That mcommerce growth is expected to continue as the country’s population further embraces mobile.
The prime minister said that “By 2015, this market will grow more than seven times to hit 3.4 billion ringgit (US$1.1 billion), indicating that the nation is upwardly mobile.” As the mcommerce sector within the country continues to develop, things could progress even more quickly. It could not only grow the marketplace as a whole, but it is also expected to expand its position within it.
The Digital Malaysia program has put the infrastructure in place to ensure that the sector will have what it requires in order to develop along with the release and adoption of technology. First launched in October 2011, this nationwide project’s impact is now expected to boost the contribution of the ITC sector to the gross national income to 17 percent ($92 billion). Should the current projections be accurate, this goal will have been reached by 2020.
It is the intention of the country’s government to generate approximately $9.9 billion in private-public partnership investments toward the Digital Malaysia partnership within those upcoming eight years. As mcommerce booms in the country, it will play a growing role in the online sphere and will continue to benefit more greatly from the success of that assistance and support program.