What is the Size of the Internet Economy in Southeast Asia?

The large population and high internet usage make Southeast Asia a potential market for the internet economy. The increasing availability of smartphones, coupled with their decreasing price and the rapid penetration of cellular telecommunications services, fueled internet user growth in 2018. An estimated 350 million internet users were in Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam, with approximately 90% accessing the internet via their mobile phones.

Based on research by Google and Temasek, the internet economy's Gross Market Value (GMV) in Southeast Asia in 2018 reached US$72 billion (approximately Rp 1,044 trillion at an exchange rate of Rp 14,500 per US dollar). This comprised online transportation services (US$8 billion), online media (US$11 billion), online travel (US$30 billion), and e-commerce (US$23 billion).

With the addition of new sectors such as online entertainment, food delivery services, and video and music streaming subscriptions, the internet economy market share in ASEAN is projected to surge to US$240 billion (Rp 3,480 trillion) by 2025. The GMV for online transportation services is expected to increase to US$29 billion, online media to US$31 billion, online travel to [the text is missing a figure here], and the e-commerce market to US$102 billion.