KUALA LUMPUR, Malaysia, Dec 27 (Bernama-PRNewswire) — After surviving the impact of the COVID-19 pandemic and facing a global economic recession, what is the best strategy to ensure development goals are met in a country like Malaysia? Nurture new technological skills in the workforce to ensure the country remains digitally competitive in 2023–and beyond.
Indeed, despite the growing number of tech layoffs that have made the news across Asia, IT remains one of the fastest growing sectors in the Malaysian market. A report by GlobalData Market Opportunities Forecasts that IT expenditure in Malaysia will reach RM103.75 billion in 2023. The Malaysia Digital Economy Corp (MDEC) predicts the demand for tech talent will rise at a compound annual growth rate (CAGR) of 7.59% per year over the next three years. Cybersecurity, Software-as-a-Service conferencing solutions, E-commerce, and IoT are four areas forecast for growth.