In the application economy, where every business is a software business, growing digital capabilities has become the key to staying competitive, finds a new survey.
The Asia Pacific & Japan (APJ) results of a global Economist Intelligence Unit (EIU) survey on the application economy finds that significant collaboration exists between the public and private sectors across APJ, with more than 95% of government respondents, 90% of enterprises and 81% of start-ups in APJ concurring that they have seen collaboration among the three groups, reveals the Asia Pacific & Japan (APJ) results of a global Economist Intelligence Unit (EIU) survey.
Commissioned by CA Technologies, the “App Nations: Start-Ups, States and Enterprises” survey shows that more than 74% of government respondents in APJ have indicated that application start-ups are crucial or important in driving growth of the application economy and 79% say the same for large enterprises who have application-based products and services.
“Across Asia Pacific and Japan, we are witnessing digital transformation becoming an integral part of the national agenda for many governments,” said Kenneth Arredondo, president and general manager, APJ, CA Technologies.
Arredondo notes that governments, start-ups and even large enterprises are not only beginning to understand the necessity of this, but that partnerships, be it technology integration or B2B sales, can be a boon to their growth.
More can be done
However, all parties also agreed that there is still more that can be done. In APJ, government respondents named a shortage of tech talent stemming from a lack of educational or training programs as the largest barrier to growth of the application economy (48%). This was followed by one-third of APJ government respondents pointing to a lack of public funding.
The report also revealed that 85% of government respondents in APJ see the technology sector as an important and often crucial driver of economic growth in their regions.
Seventy-one percent of government respondents in APJ say that the application economy has positively impacted job growth, economic competitiveness, or the ability to provide better services to citizens.
A little more than half (57%) of government respondents in APJ indicate there are specific initiatives, policies or regulations for the application economy in their jurisdiction.
Eighty-seven percent of enterprises and 64% of start-ups in APJ characterize their relationships with each other as slightly or very helpful, but also identify competitive threats posed by each other.
Meanwhile, 57% of start-ups and 67% of enterprise respondents in APJ expect cybersecurity risks to increase over the next two years and pose a threat to their success.