e-Conomy SEA 2022: Through the Waves, Towards a Sea of Opportunity (Google Cloud)

Summary

• Southeast Asia's digital economy remains on course to reach ~$200B in GMV in 2022, three years earlier than expected in the 2016 report.p.8
• The digital economy GMV is closing in on $200B, growing 20% year on year.p.25
• 100M additional internet users have come online in the last three years.p.19
• H1 2022 private funding value has already surpassed last year's by ~15%, with total deal activity at about 1.2K deals.p.45
• Investors have $15B of dry powder on hand, and DFS has overtaken e-commerce in investment volume.p.9
• Last year leading digital players raised IPO and post-IPO rounds of $1B to $6B, over 80% of the digital economy's total public funding.p.47
• The course to exceed $300B by 2025 depends on the shape of recovery amid today's uncertainties.p.9

Key insights

1. The digital economy has created 160K high-skilled jobs and indirectly supports nearly 30M jobs.p.9
2. Suburban users make up 41% of the digital population, versus 18% for affluent users.p.22
3. E-commerce adoption reaches 98% among affluent users, but only 74% among suburban users.p.23
4. Food delivery accounts for 2-4% of total spend on ready-to-eat meals in SEA, versus 6-8% in the US and China.p.29
5. Online transport has a 1-3% share of SEA's total transport market, versus 3-7% in the US and China.p.30
6. Early-stage ticket sizes have increased by 40-60% in H1 2022.p.46
7. Seven in 10 gamers are spending the same or less time playing now than during the pandemic.p.37