大e-ConomySEA2025FromDigitalDecadetoAlRealityAcceleratingthefutureinASEANGoogleTEMASEKBAIN&COMPANYO
12Referencee-Conomy SEA ls amuli-year research programme launched by Geoogle and Tfemasek h 2016. Balh & Corpanyphed theprogramme as lead research partner h 2019. The research leverages Temasek nsights. Bah nalysls. Google Trenda, datafromresearchpartnhers,expert htervews, andindustrysources to shedlight on the digital economy In SoutheastAsa (SEA) Theintor maton inclueled in th s report is sourced as Google. Temasek, and Baih, +-Conory SEA2025; unless otherwise specifedDisclaimerTheinformationin this report is providedon anas-1s basismation.Googlehesnot suppiled anv ackitbonal data forfilnehates.Projectedartysources andproprietaryresadin this reportshouldnot beafrithe forecastsor@auaranteesofutue performanceoreslts Google,Temaseks,oranyotherthirdpartyinvolvedmake norepresentationoanty, elther express or implied, as to the acauracy or completeness of the information Inthearsing fromthe use of this report.GoogleTEMASEKBAIN&COMPANY(
1310th edition ofe-Conomy SEA by Gooale, Temasek, Bain;Southeast Asia's digital economy research programme20162017201820192020UnlockingtheUnprecedentedSEA'sinternetSwipeup and to theAt full velocity:$200BopportunitygrowthforSEA's$50Beconomyhits anright:SEA's$100BResilientandinSEAinternet economyinterneteconomyracingahead20212022202320242025Roaring20s:ThroughtheReachingnewProfitsontherise,TheSEADigitalwaves, towardsaheights:NavigatingharnessingSEA'sDecadeseaof opportunitythe path toadvantageFromDigitalDecadetoprofitablegrowthAlReality:Acceleratingthe future in ASEANGoogleTEMASEKBAINsCOMPANYO
14e-Conomy SEA research methodologyBain analysisExpertinterviews?TemasekinsightsGoogleTrendsResearchpartners'and industry sourcesResearchpartnersWithcontributionsfromALPHAJWCJanuary500CCACVenturesCapital卡VENTURESSensorTowerCartVentunesGiraniteAsiaJUNGLeGoldenGateVerturescubemilieuOPENSPACEvertexGENTREEwemakere InUSD.1) DataGoogleBAIN&COMPANYTEMASEK
15This edition marks the expansion ofcoverage beyond SEA-6to ASEAN-10SEA-6614M283M36M116M6M72M101Mto tal populat ionIndonesiaMalaysiaPhiippinesSingaporeThailandVietnamASEAN-4Unlessotherwisestated,allmentionsof*SEA-6'inthis reportrefer to thesesixmarkets:Indonesia, Malaysia, Phillppines,+81M463K18M8M55MSingapore, Thailand, and Vietnamtotalpopul'ASEAN-4'referstoBrunei,lationCambodia,Laos,andMyanmar.countrliesASEAN-10'refersto all10BruneiCambodiaLaosMyanmaraforementioned countries.nbersan fr2024 from Wort Bank Wort Doevebprment ndatars at updatdl1.ty 2025GoogleTEMASEKBAN&COMPANYO
16Wecontinue our focus on six leadinq sectors in the digital economyEcommerceFoodTransportdeliveryMarketplacesDirect-to-consumerGroceriesVideocommerceOnline travelOnline mediaFinancial servicesFlightsAdvertisingPaymentsHotelsGamingLendingVideo-on-demandWealthVacationrentalsMusic-on-demandInsuranceGoogleTEMASEKBAIN&COMPANYO
12Content01020304Keeping growthRekindlingAdvancinginto anMappingtheAlmomentumsteadyinvestor interestintelligent economytransformationEcommerceLandscapeExperienceEnablersFooddeliveryAlnativesredefinitionDependenciesTransportEnterpriseOutlo...
