Press Room
Emerging Markets as Global Growth Engines in 2014, According to MIC
September 23, 2013

Despite the global economy show signs of recovery in the advanced countries of Europe, the United States and Japan, confined by the weakened overseas demand and internal industrial adjustments, MIC (Market Intelligence and Consulting Institute), an ICT industry research institute based in Taipei, indicated that the growth momentum in emerging countries such as China and India will not be too promising. In addition, as there are still doubts over signs of global economic recovery, the global market stays wary of risks and is not too optimistic about growth momentum. 

During the period 2011 - 2013, looking at the ICS (Index of Consumer Sentiment) in regional markets like the United States, Japan, Europe and China, consumer confidence remains conservative as they are still cautious about the future economic development, thereby affecting their purchase intentions.  

Due to the currency fluctuations in US dollars and the ongoing lackluster performance in the global PC market, global IT spending is estimated at about US$3.7 trillion in 2013, growing further to US$3.9 trillion in 2014, representing a 4.1% year-on-year growth. As for the ICT market development in several regions, Asia is still the region with the largest growth rate; in Western Europe, although the economic outlook stays doomed there, strategic IT investments are expected to help the region see a 0.6% year-on-year growth. With the global economy bouncing back steadily, MIC estimated that the IT spending in Asia will continue to growth during the period 2012 - 2017 with a CAGR of 6.9% and will be one of the regions seeing the most rapid rate of growth.

According to MIC's Chief Research Officer Sam Shen, smart handheld devices will continue to dominate the ICT market in 2014 with the penetration rate of smartphones expected to hit around 50.3% in 2013 and further up to 76.8% in 2017; the user adoption of tablets will reach around 55.6% in 2013 and grow further to 67.6% in 2017. In the future, emerging markets are expected to one of major growth engines to support the global economy.

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About MIC

Market Intelligence & Consulting Institute (MIC), based in Taipei, Taiwan, was founded in 1987. MIC is Taiwan's premier IT industry research and consulting firm providing intelligence, in-depth analysis, and strategic consulting services on global IT product and technology trends, focusing on markets and industries in Asia-Pacific. MIC is part of the Institute for Information Industry.