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May 15, 2012. As an emerging economy and the world's fourth most populous country, Indonesia's need for energy is tremendous. Based on the 2010 Energy Outlook report released by Indonesia's BPPT (Agency for the Assessment and Application of Technology), Indonesia is expected to become a net importer of energy by 2030 because by then it will no longer be able to meet demand domestically.
March 22, 2012. Machinery, metallurgy, chemicals and energy are some of Russia’s most important sectors. How will they be affected by the country’s accession to full fledged membership at the World Trade Organization (WTO)? What lies ahead for Russia’s key trading partners in the EU and other foreign players? The upcoming GIA webinar on “Russia’s Accession to the WTO and its Impact on Her Energy and Commodities Industries” seeks to answer this question and more.
March 19, 2012. Companies are monitoring the explosion of mobile devices, social media, peer-to-peer networks and micro-transactions, and the implications on their businesses. Indeed, social networks are emerging as platforms for product discovery and transactions. Will the development of social media payment options such as Facebook Credits present new sales channels for companies? What new market-making opportunities are there?
January 19, 2012. Ask any market intelligence director what his or her key challenge is, and it will almost always point to how to constantly deliver intelligence that is of strategic value to top management. Another common challenge is how to leverage internal networks; turning consumers of intelligence into active contributors. But as businesses grow more cautious with spending due to the anticipated slowdown in 2012, how can market intelligence teams tackle such challenges with fewer resources?
December 6, 2011. As discretionary consumer spending is hit by unemployment and economic uncertainty, the need grows in the Consumer & Retail industry for strategies to mitigate the impact of a global economic slowdown. Traditionally pioneers in the use and application of market intelligence, it stands to reason that Consumer & Retail companies will make the best possible use of market intelligence to underpin their business strategies. But this may not be the case.
November 9, 2011. As IP battles heat up among smartphone makers and media publishing transitions toward online and streaming services, technology and media firms are making every effort to stay in tune with competitor developments and market trends. The telecommunications industry, led by network operators who are seeking new revenue streams, are also building up their intelligence processes to capture emerging business opportunities. How are global players addressing such challenges through market intelligence?
October 10, 2011. With the European debt crisis and failure of US economic stimulus packages, financial institutions are likely to take pre-emptive measures against a possible global economic downturn. How will this affect Financial Services companies’ plans for market intelligence over 2011-2012?
October 3, 2011. Recent products introduced by pharmaceutical companies, such as Pfizer, Sanofi-Avensis or Eli Lilly, are not expected to generate enough revenue to make up for the loss of patent protection for blockbuster drugs such as Lipitor, Plavix and Zyprexa in 2012. The healthcare sector is also facing dramatic challenges of rapidly ageing populations in developed markets, insufficient public financing and more cost cuts - whilst the sector is experiencing a skills shortage. Many industry players have turned to expanding into India, China and Brazil, in order to take advantage of their average growth rates of 15% as compared with 5-6% in developed markets. What areas will they be investing in for market intelligence over 2011-2012?
September 29, 2011. Innovations, new products and applications, greater environmental awareness as well as changes in global demography and consumer preferences are impacting the value chains of chemical companies. How are global chemical players addressing this through market intelligence?
September 28, 2011. On the surface, Manufacturing and Industrial companies appear to have efficient market intelligence functions. More than 80% of the surveyed companies in the 2011 Global Market Intelligence Survey already have a systematic operation in place. Compared to some other industries, they work closest to their CEOs and prefer small teams. They have about 220 internal clients on average, with over 70 people regularly contributing insights and research in addition to their core market intelligence team.
September 27, 2011. With the uncertainty in financial markets, investors are looking for safer havens for their capital. In Western markets, energy efficient technologies are seen as good investments and among the few industrial sectors that are likely to continue to grow in the near term. In the last decade, new energy regulations have been introduced and constantly reviewed. These and other disruptive changes, together with the increasing global demand for energy, have led to fluctuations in energy and raw material prices. How is this likely to impact the way Energy, Resources and Environment industry players invest in market intelligence over 2011 and 2012?
The momentum has been building for several exciting emerging technology trends. While television content is increasingly available and delivered over the web, living room devices are becoming more inter-connected to create a more coherent user experience. GIA identifies and summarizes 10 key developments that drive market-shifting changes throughout the technology, media and telecommunications ecosystems.
Local fast moving consumer goods (FMCG) competitors in emerging markets such as Brazil, China and India have been growing from strength to strength. While emerging market brands are still focused on fortifying their foothold in their home markets, Indian FMCG brands are making aggressive moves overseas.
The industrialized world today is highly dependent on a relatively small number of utilities that supply power, water and fuel, that are facing environmental, social and political threats in increasing numbers. Such hazards can compromise Critical National Infrastructures (CNIs) and businesses, on a single entity, market region or even global scale. There are now security companies and consulting firms that are taking on the responsibilities that traditionally belonged to governments in increasing numbers. What potential disruptions to critical infrastructures should companies pay most attention to?
Consumer and retail companies have been eyeing countries in Central and Eastern Europe (CEE) as potential target markets. The latest figures confirm strong market prospects over the next few years, as the region recovers from the global financial crisis, with Central Europe with Poland leading the way. What are some factors that new market entrants should take note of?
The acquisition of Where by eBay’s PayPal division in late April 2011 and the proposed purchase of T-Mobile by AT&T stand to have a very large impact on the location-based services (LBS) industry. With the increasing number of mobile device users and, concurrently, a greater usage of social media to engage in communication, entertainment, work-related activities, LBS providers will continue to take advantage of this technology that gives instant access to information about users’ physical and constantly-changing surroundings. With larger players entering the fray, where is the industry heading to next?
According to Michael Ouyang, CEO of the World Luxury Association’s China office, "China will take the place of Japan and become the world's largest consumer market for luxury goods. More than 70% of the brands will try to accelerate a shift in their development focus from Japan to China this year”. Major groups such as PPR, Titan, Richemont or LVMH have been forced to compensate for lost consumer sales from in Japan after the March 11 earthquake and tsunami by focusing even more on China. Foreign brands dominate high street fashion, top-end automobiles, jewellery and luxury timepieces in China today. What opportunities are there to tap?
The LED lighting industry is still highly fragmented with many start-up competitors. As the technology matures, industry consolidation will occur, and there will be a flight to quality and to established brands. Multinational and local LED lighting manufacturers, such as Philips, Osram, Toshiba, Kingsun and Neo-Neon are among the many strong contenders for market dominance in their home and overseas markets, with new competition continuing to emerge from both local and global players in related industries.
Rising oil prices, slow economic recovery and demand for more sustainable modes of transport are driving logistics players to consider multimodal transportation. Schenker, for example, has started its 'Trans-Siberian' rail experiment connecting China and Germany by rail. The European Commission is also in favor of multimodal transport in its "Roadmap to a Single European Transport Area – Towards a competitive and resource efficient transport system" report. What else can industry executives do to out-survive their competitions?
According to a survey by Global Intelligence Alliance (GIA) amongst 67 Asian consumer and retail industry professionals in China, India and South East Asia in November 2010, 80% said Indian and Southeast Asian consumers have become more willing to pay more for better quality food and beverage over the last 12-18 months.
Logistics providers are in a good position to offer RFID (Radio Frequency Identification) service propositions to their manufacturing customers in China and South East Asia. Based on a November 2010 survey by Global Intelligence Alliance (GIA), over two-thirds of manufacturing sector respondents did not have a plan in place to invest in RFID tracking technology for location and route planning services.
More than 90% of all transactions in developed markets are now done via non-branch channels, according to an Asian Banker Research and Diebold whitepaper published in 2010. Furthermore, 90% of the procedures for new account opening might be streamlined and automated by 2012. How will such global banking trends affect Asian retail banks? How will the future of retail banks in Asia transform? The answer to all these questions might lie in virtual banking.
The Asia Pacific today represents 25% of the global pro-audio visual (AV) industry, driven mostly by growth in China and other emerging markets from South East Asia. With strong funding being injected by governments around Asia Pacific, the Education and Government sectors are expected to out-perform other segments. How are some AV products being used within the education sector in, one of the world’s largest emerging markets, China?
Plaza 7’s dashboards allow anyone to see an organization’s competitive “big picture” or drill down to more detailed information or analysis in seconds. Some say dashboards are changing the nature of management into more and more of a science. Various business teams can quickly compute and analyze the same market signals and come together to make quicker and more informed decisions. What does the tool mean for market intelligence professionals?
Innovation and emerging markets will continue to be the top buzzwords for Food and Beverage, Retail chains, Fashion houses, FMCG and other consumer goods companies in 2011. But how will they achieve this while facing challenges with reduced consumer spending and increased competition in all markets?
Over these next two years, manufacturing firms will be focused on increasing competitive advantage while the global recovery trends upwards. Improving resource efficiency to reduce input costs, leveraging the growth of contract logistics to reduce supply chain costs and finding innovative methods of attracting, training and retaining workforce talent are the three key areas that manufacturers need to address in order to drive business growth. The ways in which emerging market and mature market manufacturers go about doing so differ widely, as shown by GIA’s industry poll.
Just as companies need to continuously offer compelling products and services to stay competitive, market intelligence executives need to ensure that their deliverables are valuable, practical and user-friendly. How can deliverables be presented effectively? The GIA White Paper release and webinar on Building a High-Impact Market Intelligence Product Portfolio will provide some answers and include a case from Best Buy, a specialty retailer of consumer electronics in the United States.
Air, land and water pollution as well as the depletion of non-renewable resources have been moving up the agenda for governments, businesses and the public. How important is this subject to manufacturers in Asia? Do production practices need to be urgently reviewed? GIA’s webinar on “Sustainable Manufacturing in the Far East Countries” seeks to answer these questions and reviews three Asian case studies.
Partly supported by third-party certification programs such as Leadership in Energy and Environmental Design (LEED), awareness of energy efficient and environmentally friendly products and techniques in construction is increasing. More green products and projects are likely to be introduced over the next two years.
Demand for renewable energy sources will continue to be high over the next two years; especially for the ‘greenest of the green’ energy sources. Experts say that raw material-free energy sources such as hydro, wind and solar will be especially favored over the next two years, driven by concerns over the cost of raw materials. Smart grids are another growth area, where aging distribution networks in places like China and the US mean that grid technology companies have a growing market for solutions to tackle the existing problems with network capacities and distributed generation.
China’s domestic and in-bound merger and acquisition (M&A) activity reached peak levels before the financial crisis, but has recovered strongly in 2010. While there are enormous opportunities emerging for international and domestic investors, what are the key lessons for foreign access to China M&A? What are the proven strategies and solutions for ensuring deal success?
Smart televisions are expected to be showcased everywhere at the 2011 Consumer Electronics Show. Samsung, Sony, Toshiba, LG and Visio will all launch Smart TVs that enable viewers to search and find video content on the web, on local cable or satellite and locally stored hard drive content. Will Smart TVs have the same impact as 3D TVs did in 2010; lots of buzz but few buys?
Organic compounds synthesized out of renewable raw materials such as vegetable oils, starch, sugar and cellulose have been the focus of much research within the chemicals industry since the 1990’s. Green chemicals, which today include biopolymers, lubricants and surfactants as well as specialty and platform chemicals, are finding their way into cosmetics, toiletries, food additives and product packaging. Which new green applications have caught the attention of the fast moving consumer goods (FMCG) industry?
By the end of this year, over 60% of the entire Indian population will be classified as middle-class, according to a survey by CRISIL. Many live in India’s tier 1 and tier 2 cities, and some may earn as much as USD20,000 per year - or the equivalent of over USD100,000 per year in India when adjusted for purchasing power parity. Changing lifestyles and eating habits, an over-taxed healthcare system and a dearth of healthcare services are opening up new opportunities for the healthcare sector.
In the wake of the credit crunch and public fall out from the BP oil spill, petroleum companies have been adopting a more conservative approach to project financing. If they are not exiting or slowing down unconventional projects, such as oil reclamation from tar sands, they are halting downstream investments like the Honam refinery in Qatar. How else can oil companies derive greater efficiencies in order to maintain their competitive advantage?
The business-to-consumer (B2C) parcel delivery market is one bright spot in the sluggish European logistics market, thanks to the ever-increasing popularity of consumer e-commerce. Online retailing in Western Europe is estimated to grow around 10% over the next few years, driving growth of Europe’s B2C parcel market at about the same pace – particularly in the UK in Western Europe and Poland or Estonia to the East. What are some key market developments?
More than half Asia's Pay TV operators surveyed in our latest industry survey (54%) already carry High Definition (HD) channels. New technologies such as IPTV and 3D TV are seen as the greatest untapped opportunity – and the greatest threat – for traditional cable & satellite operators.
Booming urbanization and a growing middle class in China is driving demand for commercial security solutions in the country. Government initiatives, such as community schemes like the Safe Cities Project or the 3111 Pilot Project, higher levels of policing and stimulus packages to develop western China, will further boost growth. How will the industry cope with demand?
The title “land of opportunity” belongs to China. Economists expect it to officially become the second largest economy this year and to continue growing at record rates. Many of its industries however, are well developed and established. Which new rising industries should investors consider putting their money into over the three years?
With oil and gas construction suddenly under the spotlight following the unfortunate events in the Gulf of Mexico and a major producer in the dock for previously unheard of compensation claims, it seems likely the industry will become even more risk averse in the construction of new plants and equipment.
Retail banks largely missed out on opportunities to develop online financial services during the e-commerce revolution of the ‘90s. They may be missing out again, this time within the realm of social media – except that now, the global online virtual dollar market can reach US$10 billion in 2010, with Asia accounting for US$7 billion, according to Engage Digital Media.
Consumer and retail businesses in Brazil can anticipate a promising future. Employment rates and consumer groups are growing, while political risk, economic uncertainty and inflation continue to stabilize. Overall, the retail market grew by 15.7% in 2009; slightly over the 14% forecast growth. The segments presenting the highest growth were automobiles, at a record 32%, furniture and domestic appliances (25%), clothing and shoes (16%), tobacco and beverages (15.5%) and pharmaceutical and cosmetic items (15%).
China’s golf industry is expected to grow exponentially in the next few years and help boost tourism and real estate development along the way. Even though China is the world’s second largest source of golf equipment today, the country only has about 500 golf courses, compared to approximately 18,000 in the United States and 6,000 in Europe. This huge ‘handicap’ may soon be lowered, with the expiry of a six-year-old government ban on new course development from 2004.
Biogas is increasingly viewed as a viable alternative to both traditional as well as other renewable forms of existing transportation fuel, from gasoline and diesel to ethanol and biodiesel. Where do the greatest market opportunities lie? Which technologies will be utilized in different regions? Which new players are entering the biogas market? The answers are all in the GIA white paper on “How to Profit from Biogas Market Developments”.
Newspapers, magazines and book publishers worldwide have been actively addressing the shift in readership towards digital platforms, in particular mobile devices, but have been grappling with fundamental issues in creating sustainable revenue models and content delivery formats. What is the most efficient approach to reach maximum audiences over mobile devices? How can publishers best monetize content delivered over mobile devices?
India has one of the fastest growing and most environmentally aware construction industries in the world. GIA research during Jan-Apr 2010 shows that local opinion leaders in India’s architectural, construction and property development community are unanimous in the view that their industry is big on going Green. However, lack of awareness and education are the two major restraints, aside from cost, on environmentally friendly property development.
2010 began with several mega-mergers within the consumer & retail industry: Kraft Foods and Cadbury, Phillips-Van Heusen and Tommy Hilfiger and soon, Best Buy and RadioShack. Hardly predatory in nature, these deals point to strong companies making strategic moves jointly in preparation for the next sustained economic upturn. What do these moves imply?
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Content publishers and service providers looking to serve consumers over the mobile phone must make crucial decisions between web or native application interfaces. The GIA white paper, “Native or Web Application? A Look at How Best to Deliver Content and Services to Your Audience over the Mobile Phone” reveals different approaches in building applications for mobile phones and the trends that will influence developers' and publishers' interface choices, based on findings from a survey conducted amongst 90 mobile publishers and service providers worldwide.
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Private Equity (PE) leaders in Asia may differ in their growth expectations for 2010 and beyond, but they all agree that PE Investments will shift from traditionally attractive sectors such as Information Technology, Consumer and Retail, Financial Services and Real Estate. What are the fundamentals driving this trend and what strategies will PE firms pursue?
The rules of the game have changed for Consumer and Retail companies. Distributor power, new entrants and a long economic recovery are among the biggest business threats in 2010 for companies, reveals the Global Market Intelligence* survey. Consumer budgets are tight and the focus is on cost, not brands. How will companies use Market Intelligence to explore new strategies and reach deeper into markets?
Evolving competition is a top concern for global Market Intelligence professionals within the chemical industry but substantial opportunities lie with contributing to sustainable growth and environmental improvement, according to the 2009 Global Market Intelligence* survey. The chemical sector, from oil, gas, lubricants and plastics to agrochemicals, performance products and biotechnology, is undergoing important changes. How will they use Market Intelligence in 2010/2011?
Successful crowdsourcing by prominent online service vendors such as Threadless, InnoCentive, iStockPhoto, Google MapMaker and Building Maker are now inspiring similar crowd-based concepts in the mobile world. What are some of the best practices for the mobile space?
The recession has increased the need for Market Intelligence* for Energy, Resources and Environment companies, as they ride the global trend of environmental consciousness and address perceived threats from new market entrants. According to the 2009 Global Market Intelligence survey, a majority will increase their Market Intelligence budgets between 2010 and 2011, albeit from rather low levels. Will these investments be sufficient for energy companies to stay ahead of emerging competition?
Price pressures due to the availability of low-cost alternatives present a serious threat to some of the world’s largest manufacturing and industrial companies, according to the 2009 Global Market Intelligence survey. Other threats include acquisitions and international expansion, increased market share by Chinese producers, manufacturing over-capacity in parts of Western Europe as well as the emergence of modified or new innovative products.
Consolidation, increased competition and greater government regulation are top concerns for global Market Intelligence professionals within the financial services industry, according to the 2009 Global Market Intelligence* survey. Banks, insurers, stock brokerages, investment funds, consumer finance and credit companies are just very slowly recovering from the effects of the economic crisis. How will they use Market Intelligence in 2010/2011?
Many technology companies still worry about competitiveness, pricing, margins but have a positive outlook and expect the need for Market Intelligence* to increase over 2010/2011. Cloud computing and social media will be the new buzzwords within the Market Intelligence space.
What implications does China's development into one of the wind energy powerhouses have for the global market? Kim Khoo, co-author of the white paper "The Chinese Wind Energy Market" shares her thoughts.
What implications does the development of green practices in Asia-Pacific have for global supply chains? Kelvin Inn, Consulting Manager Hong Kong and co-author of the white paper "Green Supply Chain Management in Asia-Pacific" discusses sustainable practices in the manufacturing and logistics industries, and the role of sustainability in the Asia-Pacific.
What relevance does market intelligence have for supply chain management (SCM) professionals? Rahul Dhingra, a MI advisor at GIA with hands-on industry experience in purchasing, procurement analysis, logistics, inventory management and strategic sourcing, shares some insights. He is also the author of "Market Intelligence for Supply Chain Management", a GIA white paper.
The global stimulus packages announced by various governments in response to the current financial crisis impact companies along the value chains of many industries. The challenge will be to identify quickly the impact, the favorable circumstances and the spending requirements in order to act on the opportunities that arise.
The convergence of professional audiovisual (pro-AV) products and information technology (IT) is leading to more sophisticated products and services. In fact, the extent to which both IT companies and pro-AV players embrace this convergence theme will define their future success.
Production and consumption of milk and dairy products have experienced phenomenal growth in both urban and rural China over the past 10 years. Demand for milk and yogurt is expected to expand at annual growth rates of 22% and 31% respectively over the next five years.
In the midst of industry consolidation, deregulation and uptake of digital media, Pay TV operators in Asia find themselves in a period of transition.
Market players in the mobile telecoms sector need to adopt targeted strategies to penetrate Southeast Asian markets with next generation 3G handsets.
Large technology manufacturing companies are adopting a ‘China plus one’ strategy, seeking more balance in their Asian manufacturing and diversifying risk by being less dependent on China. This is in light of China’s rising labour costs, high employee turnover and to some extent, greater bureaucracy versus some governments in South East Asia.
Food companies in China are paying more attention to food safety, certification and wholesome ingredients, driven by increased consumer concerns and media attention, particularly from major export markets.
China’s demand for clean water is projected to rise to 585 billion cubic metres per day by 2010. That is equivalent to 1,000 times the daily volume of water approaching Niagara Falls’ during peak flow season.
Flat panel Thin-Film Transistor Liquid Crystal Displays (TFT LCD) for TVs and computers are now rapidly replacing traditional Cathode Ray Tube displays by offering advantages in power efficiency, weight, definition and radiation. TFT LCD technology effectively enhances performance in terms of resolution, transmission and visual angles.
Worldwide, offshore oil production is set to rise by about 43% in the next five years, with global offshore gas production projected to increase by 83% within four years. Malaysia, Indonesia and China will see major growth in offshore investment and production, driven by new finds, improved technologies and diagnostics, and continuing high fuel prices.
In view of rising land and labour costs in the Pearl River Delta region, many factories have been relocating to lower-cost areas within Guangdong province. This relocation trend has caused suppliers and customers along their value chains to adjust their business strategies accordingly.
Major banks and hospitality companies in Macau expect casinos to play an increasingly major part in their business mix over the next two years – with some projecting as much as 30% casino-driven annual revenue growth.
Strong recent growth momentum in mainland China mergers and acquisitions (M&A) is only set to continue. The number of M&A deals jumped from 388 in 2003 to 824 in 2006, with deal value increasing similarly by almost 30% a year on average from US$29 billion to US$62 billion. Private equity deals have been the fastest growth area, up 75% per year, followed by domestic strategic deals (42%) and venture capital deals (28%).
Pay-television market players in Asia have started to see real returns in recent years. New digital services like interactive TV, mobile content and Internet Protocol television (IPTV) are generating huge interest and hype, with technological progress being made all the time and the boundaries between traditional media segments becoming more and more blurred.
China represents the largest growing consumer market in the world today. With wages in China expected to be 4.5 times higher by 2020, researchers at the Economist Intelligence Unit forecast that at least 80million households will have an annual income in excess of US$7,500.
2007 forecast puts China’s sizzling GDP growth this year at a more modest 9.7%, as opposed to 10.4% in 2006. While the robust growth momentum at a rate higher than GDP growth will continue in most chemical application markets, some sectors will likely experience a similar slowdown. The challenges for chemical companies will be prioritizing their business development efforts and building market share.
There are now 8.7 million people globally that hold more than US$1 million in financial assets, and are classified as High Net Worth Individuals, according to the latest World Wealth Report published by Capgemini and Merrill Lynch. This represents an increase of 6.5% over that of 2004.
As the American economy cools, and as China’s domestic consumption increases, more of China’s rapidly growing output will be consumed at home. Already the forecasted GDP growth of 8% between 2006-2010 is expected to translate into a robust growth rate of 18% in the logistics sector, or 95 triilion RMB by 2010.
Since reaching RMB 195 billion in 2004, the DIY home furnishings market in China has been growing at double-digit rates and is expected to do so until 2010. The main pockets of this growth have centred on Shanghai, Beijing, Guangzhou, Zhejiang and Tianjin, where residents tend spend about 5% of their income on housing and decoration, the highest percentage nation-wide.
Rohm & Haas is the most vigorous chemical company in Asia-Pacific, according to the latest Chemical Business Vitality IndexTM report from GIA, surpassing its chemical and energy sector peers with a winning combination of regional presence, revenue performance and innovation.
The world's shipbuilding industry is shifting to China, thanks to labour costs 10-20 times lower than those in Japan and Korea, and the success of marine engineering industry clusters in the Bohai Bay area and East China.
Chinese consumers spent over 500 billion US dollars in 2005. Top of their shopping lists are cars, white goods and consumer electronics, and for those who can afford to move to new homes, new furniture and fixtures.
The global optoelectronics market, valued at around US$270 billion in 2005, is expected to be worth US$1 trillion by 2015. Asia, which acts as the world's manufacturing base for optoelectronics displays, storage, communications devices and components, accounts for more than 50% of the market, and will approach US$600 billion by 2015.
Telematics - the integrated use of telecommunications and informatics in cars and trucks - in the Asia Pacific region has enjoyed considerable growth in recent years, thanks in part to the region's relatively high vehicle density compared with Europe and the US.
Japanese consumers are the most sophisticated in Asia-Pacific, demanding high-quality products and good after-sales service regardless of price.
Numbering over 11 million people and 2.8 million households, the population of overseas South Asians around the world (ie. those living outside South Asia) equates to that of a small country. With average incomes many times those earned on the sub-continent, this is an audience whose potential was largely untapped during the 1990s, and it is now increasingly being targeted by Hindi, Bengali and Tamil television programmers such as STAR, Zee and Sony.
For years, mobile telecom operators in Asia have been exploring the concept of 'mobile wallets'. Radio Frequency Identification (RFID) enabled stored-value handsets that could bring them a new revenue stream, particularly in more mature markets where new subscriber growth is tailing off.
The contactless payment card market in Asia is projected to exceed US$3 billion by 2009. Eager to tap into this potential are credit card companies, with Radio Frequency Identification (RFID) pilot tests being carried out by American Express, Mastercard and Visa in Malaysia, Japan and Singapore.