Indian startups must tap $430 bn digital market in Southeast Asia: Report

The total digital economy of Southeast Asia (SEA), which stands at $210 billion, is expected to grow at 15 per cent compound annual growth rate (CAGR) to reach $430 billion and Indian startups looking to expand overseas should consider Southeast Asia, a report showed on Monday.

The population of over 650 million and 70 million SMEs in Southeast Asia are rapidly becoming more affluent and digitally savvy, creating a high demand for innovative products and services.

“It’s an ideal time to explore and expand into the region as it is an attractive geography with tremendous growth potential,” according to market research firm Redseer Strategy Consultants.