IDC Downgrades IT Market Growth, Sees ‘99 Rebound

By Julian Matthews

April 3, 1998 (KUALA LUMPUR) — International Data Corp. revised downward its growth forecast for Malaysia’s information technology market to 9.7 percent from 20 percent for the next five years.

IDC predicts the local IT market will experience a compounded annual growth rate (CAGR) of 9.7 percent from 1997 to 2002. Previously, the company forecast a 20 percent CAGR for years 1996 through 2000.

“The currency crisis has affected growth in all sectors,” said IDC country manager Selinna Chin.

Chin said that for 1998, the local IT market is valued at US$1.368 billion, a drastic 28 percent dip from the US$1.9 billion in 1997.

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