Singapore has the most conducive market for application development and market entry in Asia Pacific & Japan (APJ), according to the Application Economy Index (AEI) released by CA Technologies yesterday (25 February 2016).
The AEI aims to identify the readiness of 10 APJ markets to thrive in today's digital world. The index, which was commissioned by CA Technologies and carried out by research consulting firm TRPC, also evaluated the three main pillars critical for a vibrant application economy. This includes government use and support of technology and innovation, Internet and mobile infrastructure, and business agility.
According to Lim May-Ann, managing director of TRPC: "We found Singapore, Australia, South Korea, Japan and Hong Kong most ready to maximise opportunities provided by the application economy, placing them in the Disruptors group. China and Malaysia form the Challengers group in the middle, while Thailand, India and Indonesia make up the Mainstream group that needs to focus on developing conditions for businesses to thrive in the application economy."
Meanwhile, CA Technologies has also released its ranking of future leaders in the application economy through the use of Market Potential Accelerators (MPA). This index evaluates the factors which can affect the market potential in the new application economy. This includes the number of smartphone users in a market, the number of people who use mobile Internet daily, the use of virtual social networks, the use of mobile application on a daily basis, and the demographic size of youth in the market.
Based on the report, China, India, and Indonesia have the most potential to leapfrog to the top three places of AEI if they capitalise on these factors and opportunities.
"The pace of innovation must match the pace of disruption, and forward-looking, pro-active strategies for managing risks and capitalising on opportunities must be put in place if businesses are to succeed in the application economy," said Kenneth Arredondo, president & general manager for Asia Pacific & Japan of CA Technologies.
On the other hand, current AEI leaders-Singapore, Hong Kong, South Korea, Australia, and Japan-have to quickly bridge these gaps to avoid the risk of falling behind.
"In anticipation of the future marketplace, the best bet is still for enterprises to act fast to capture market share, and for governments to improve the enabling infrastructure so businesses can develop and adapt quickly to changing market environments," explained Arredondo.
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