Goldman says Indonesia to be next battleground for technology companies

Goldman Sachs Group Inc. says the next battle for technology companies will be fought in Indonesia, because of the Asian country’s huge population, high economic growth and “untapped market potential.”

In a report that the brokerage describes as the “first of its kind,” analysts led by Miang Chuen Koh analyzed the two sectors that they believes offer the biggest opportunities for profits — gaming and e-commerce — and took a bottom-up approach to determine the size of the market. It says gaming revenue could have a compounded annual growth rate of 22 percent over the next five years, while gross merchandise value in e-commerce could see a CAGR of 61 percent.