target audience: TECH BUYER Publication date: Sep 2024 - Document type: IDC Perspective - Doc Document number: # AP51928424
C2G: Expanding Horizons: Chinese Software Advancements in the ASEAN Transportation and Warehousing Market
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Abstract
This IDC Perspective delves into the expanding role of Chinese technology companies in the ASEAN transportation and warehousing market, driven by the region's rapid economic growth, increasing demand for digital solutions, and favorable market conditions. Despite this growth, Chinese tech firms still face challenges in the APJ region where multinational corporations (MNCs) maintain a dominant position because of established market preferences. However, companies, such as Yonyou Network, are spearheading efforts to deepen their presence in Southeast Asia, aligning with local market needs through their "Globalization 2.0" strategy.
Chinese firms are seizing opportunities in ASEAN's booming manufacturing and ecommerce sectors, supported by digital transformation, increased foreign direct investment, and initiatives, such as dual circulation strategy, the Belt and Road Initiative, and so forth. IDC survey insights reveal a growing interest in Chinese technology solutions, with a number of APJ organizations planning to increase spending on Chinese vendors.
"The rapid expansion of Chinese tech companies in ASEAN presents considerable opportunities. However, to compete with the long-standing preference for multinational corporations, they must prioritize localization, adherence to regulations, and providing value-driven solutions customized to the specific needs of the regional market," says Rani Ratna, senior research manager, IDC Manufacturing Insights Supply Chain Programs.