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Jakarta Post

Indonesia’s digital economy 'well on track' to dominate Southeast Asia

  • Adrian Wail Akhlas

    The Jakarta Post

Jakarta   /   Tue, October 8, 2019   /  12:37 pm
The Jakarta Post Image
Gojek drivers pose for pictures during the Red and White Festival of Gojek Partners held in Surabaya, East Java on Aug 17 to celebrate Indonesia's 74th Independence Day. The ride hailing service in Indonesia contributes significantly to the growth of the country's e-commerce.(Courtesy of Gojek/.)

Indonesia’s digital economy is well on track to dominate Southeast Asia as its market value triples to US$130 billion by 2025 from $40 billion in 2019, with e-commerce and ride-hailing sectors spearheading the growth. According  to the annual “e-Conomy Southeast Asia” study, conducted by American tech giant Google, Singaporean holding company Temasek and management consulting firm Bain & Company, the e-commerce and ride-hailing sectors are firing on all cylinders with the former growing at a compound annual growth rate (CAGR) of 88 percent from 2015 to 2019 with a gross merchandise value (GMV) of $21 billion and the latter grew at a CAGR of 57 percent with a GMV of $6 billion. “The e-commerce and ride-hailing sectors are growing rapidly [in Indonesia] due to large funding and tight competition from local and regional players,” said Google Indo...