Revolutionizing the Future: The Top 3 Asia Startup Trends to Watch in 2022

The increasing popularity of mobile devices in Asia is a cornerstone for innovative smartphone business models. According to Jesus Martin – Head of Strategy at Microsoft, super apps, games and e-commerce were the top 3 Asia startup trends in 2022.

Further information provided by ITI Fund is below:

Super-app

According to Martin, the proliferation of super apps that allow users to access multiple services from a single platform is a launch pad for innovation in Asia.

Super app, a new approach to an All-in-One experience

Not only ordering a car or delivering food but also customers booking medical appointments, borrowing money or paying via e-wallets. Mr Martin gave the example of Grab – a super app changing consumption patterns and digitally transforming customers’ lifestyles.

Other popular super apps in Asia are WeChat (China), Paytm (India), GoTo (Indonesia), Zalo (Vietnam) and Kakao (Korea). Furthermore, Chinese Indian and South Korean startups valued at least $1 billion are overgrowing.

Game

According to Niko Partners, Asian gamers will generate more than $41 billion in revenue by 2025. Indonesia, Thailand and Vietnam are the fastest-growing markets in Southeast Asia. Globally, most of this revenue is from China – the hometown of giants such as NetEase and Tencent.

Japan and Korea account for 80% of the regional market

According to Microsoft Asia, cloud gaming is a rapidly expanding sector, with particular growth seen in Korea, China, and Japan. This technology allows users to be entertained on any device, anytime, and from anywhere.

The global game players have reached nearly 3 billion, more than half in the Asia-Pacific region. Mr Martin attributes this trend to the growth of smartphone usage. According to Newzoo, five of the top ten countries with the highest number of smartphone users are in Asia, with China and India at the top.

E-commerce

The global e-commerce market has seen a significant surge in sales, particularly since the Covid-19 pandemic. According to a report by Facebook and Bain & Company, in 2021, 70 million users from Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam have turned to online shopping since Covid-19.

Vietnam’s e-commerce had a successful year in 2021, with growth in the value of goods and users

Shopee (Singapore) and Reliance Jio (India) have a customer-centric retail ecosystem, providing the best choice through various prices, digital payments, and logistics to deliver quickly.

Most startups in Asia have achieved remarkable success within their local markets. Nevertheless, these enterprises can expand their influence beyond their home countries.