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Southeast Asia’s e-commerce market is estimated to be worth US$53 billion by 2023 and is emerging as a hot battleground amongst China’s tech giants, which have been investing aggressively to establish their footprint in the region.
Fuelled by growing smartphone adoption and local economies, Southeast Asia would grow at a compound annual growth rate (CAGR) of 23 percent over the next years to hit US$53 billion, up from US$19 billion this year.