A look at current stats will show that digital platforms are fast-rising in Southeast Asia. The number of smartphone users in the region has only grown and internet connectivity for these users will surpass 90% by 2029. Asia is already a big market for all things tech but the Southeast region is having its moment.
Where does Malaysia fit into this? The country has a strong youth population and has been at the forefront of several tech innovations. In this article, we break down how it is performing across several metrics:
eCommerce
eCommerce is a fast-growing industry all over the world and Malaysia is no different. In fact, the country has one of the fastest-growing eCommerce sectors in all of SEA. This year, it is expected to grow by 12.8% to be worth $11 billion. This comes after it grew 15% in 2023 and 20% in 2022. The country’s eCommerce growth is bolstered by the rise in internet users, with 89.6% of its population being internet users. Then there has been a boom in alternative payment methods that mean that even the traditionally unbanked can pay for the goods they need.
Online Gaming
Malaysia is home to several top gaming studios like Animalia Games and Nexx Studio and the output from both local and foreign companies has bolstered its online gaming industry. Online gaming in the country is on track to bring in $26.19 million in 2024 thanks to the popularity of game niches like puzzle, combat, and strategy.
Malaysia has also seen a rise in its online gambling space. With laws related to gambling becoming more lax and a public that is hungrier for the experience than ever, things were bound to change. As Michael Graw writes, Malaysia’s online casinos are a hotter commodity than ever before. Attractive welcome bonuses, advanced security features, and timely payout options are only some of the reasons why Malaysians decide to play games on such platforms.
Travel Platforms
Not only did Malaysia welcome over 16 million tourists last year but many locals also travel within and outside of the country. This has given rise to several Malaysia-based travel platforms. Grab is used to book cabs and other transport within the country, CatchThatBus allows users to buy and use bus tickets, Waze aids navigation, and so on. Besides these locally-developed options, the country also supports global platforms like Booking.com and Google Maps, benefiting both residents and visitors.
Social Media
With a young and vibrant population, it comes as no surprise that social media use in Malaysia has been consistent over the years. What’s more, the country boasts several locally-made social media platforms that are used alongside the likes of Facebook and Instagram. A look at their list of the most used social media apps will see names like Omi, ShareChat, and Bigo. For Malaysian consumers, this offers variety beyond Western platforms, along with more ad revenue being generated within their own country.
As the number of mobile devices and internet users keeps growing, the numbers for these native social media apps should also go up.
Dating Apps
Move over, Tinder! Malaysia has a well-developed landscape of local dating apps that help to meet peoples’ needs for companionship. Besides the aforementioned Omi, Heymandi, Boo, and TanTan are some of the popular apps on the market. While they have recently come under some scrutiny, dating apps continue to bring in massive revenues for their parent companies. And just like the gaming industry, Malaysia and other SEA countries have done a good job of elevating homegrown options as well as their Western counterparts. Seeing as humans will always seek out companionship and the number of internet users in Malaysia will only grow, we sense good things ahead for its dating app sector.
Matt Rife
2 months ago
November 19, 2024 at 3:20 am
With the rise of local social media and Incredibox Colorbox Mustard dating apps, how do you see Malaysia’s digital landscape evolving compared to other Southeast Asian countries?