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Market Research Companies in Indonesia

Provided services.

• Quantitative research
• Qualitative research
• Online research
• CATI research
• Social media research

PT Acorn Konsultan

Address: Selatan 12980 Jakarta, Indonesia

We specialize in problem solving research and modeling including: brand & product positioning, rejuvenation, configuration, pricing, customer loyalty and marketing effectiveness tracking. ...

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KAD Research

Address: 16110 Jakarta, Indonesia

KAD Research is a full-services marketing research company with experience in quantitative and qualitative research. We offer a wide variety of research services i.e. FGDs, IDIs, CATI, CAPI, PAPI, F2F, Retail audits, online surveys, Mystery shopping. We are specialized in healthcare market research. ...

ABN Impact (Asia – Indonesia)

Address: 12430 South Jakarta, Indonesia

ABN Impact is an independent market research agency operating across Asia. We are a full service agency conducting traditional research approaches such as focus groups, ethnography and surveys, as… ...

Kinas Consulting Indonesia

Address: 40253 Bandung City, Indonesia

Kinas Consulting Indonesia is a local Full-Service Marketing Research focused on various business fields such as, Electronic, Retail, Finance, Pharmaceutical, Logistic & Express Courier, Transportation, and Property ...

GfK in Indonesia

Address: 12940 Jakarta, Indonesia

GfK is the trusted source of relevant market and consumer information that enables its clients to make smarter decisions. ...

MRI (Marketing Research Indonesia)

Address: 13630 Jakarta, Indonesia

MRI offers full service and fieldwork research services: qualitative (IDI, FGD, etc), quantitative (face to face, telephone, CAPI, CATI, CAWI, diary method, etc); mystery shopping. Our coverage is all over Indonesia. For works out of Indonesia, we work with affiliated agencies. ...

RAD Research

Address: 40267 Bandung, Indonesia

RAD Research is marketing research company from Indonesia. Beside providing premium services , we also put attention to the smallest details. We provide in depth insight as inputs to our clients in… ...

Mitra Market Research

Address: 10220 Jakarta, Indonesia

We provide solutions to our clients, and collecting information and data through different methods and tools available to us. We have extensive experience managing qualitative and quantitative… ...

MarkPlus Insight

Address: 12870 Jakarta, Indonesia

MarkPlus Insight is a respected Southeast Asian-based marketing research firm, a research arm of MarkPlus Inc, and a leading research service provider which promises our clients with reliable market… ...

INDEPENDENCE Research Operation Partner

INDEPENDENCE is your trustworthy Research Operation Partner. We help research agencies to accomplish their research tasks with high quality results, in a timely manner. The A-to-Z of research… ...

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Indonesia Market Research

Valuable insights for companies to grow stronger.

Central Insight is Indonesia-focused market research firm that help businesses to get valuable insights to make business decisions.

Our capabilities.

We are market researcher , Go-To-Market strategist and business incubator specialist for Indonesian market. We develop product ideas and marketing strategies through our understanding of market, competition, people and culture.

Field Research

We deliver tailor-made research with cost-effective sample type, size, and primary data collection methods.

–  Field Survey –  Interview Acquisition –  Focus Groups –  Mystery Shopping –  CATI/Telephone Survey

Market Understanding

We help you to understand markets and its dynamics to verify your market approach and strategy.

–  Market Research –  Market Benchmarking –  Market Assessment –  Industry Report

Competitive Intelligence

We help clients to compare with the best industry competitors in terms of capabilities, structures, and customer benefits.

–  Competitor Research –  Competitive Benchmarking

Market Expansion

We help clients in achieving sustainable growth and increased revenues by entering new markets and expanding to new sites.

–  Market Entry Support –  New Business Set-up –  Due Dilligence –  Mergers & Acquisition

Projects Completed

Experienced Researchers

Satisfied Clients

OUR CLIENTS

We’re going to became partners for the long run..

Clients are happy with our high quality and tailored field works . We go directly to the market participants such as industry leaders, industry associations, channel partners and customers.

Broadening Perspective

Central Insight is a boutique market research and business incubation firm with a team of experienced B2B and B2C researchers, analysts and senior consultants formerly with leading consulting firms, Fortune 1000 corporations and Asian Conglomerates. Our team has in depth expertise across industry verticals in Indonesia. 

Free consultation with us

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Market Research Indonesia

Supporting companies looking to expand in the fast-growing economy of Indonesia

Gain insights on the major industries in the Indonesian market to understand consumer preferences and boost your revenues.

Expand your business to the Indonesian market with the support of our professionals who can help you through market research.

Transform your business to keep up with your competitors in Indonesia, increase your operation's efficiency, and optimize your business operations.

Digitalization as the Key to Indonesia's Economic Growth

The Asian Development Bank (ADB) has projected that the Indonesian economy will grow by 5% in 2022, and 5.3% in 2023. The country picks up from its brisk recovery in 2021, logging a higher national output than before the pandemic in 2019. Digitalization and public investment in digital infrastructure are expected to be the key drivers of economic growth in Indonesia.

Market Research Indonesia assists industry players in identifying sustainable growth strategies in Indonesia's major industrial sectors, with in-depth research that determines opportunities and potential business in the country.

Our advisory services include market entry strategies, competitive benchmarking, market assessments, operations support, M&A, and partner due diligence, among other consulting solutions.

With extensive experience and industry knowledge, Market Research Indonesia helps clients enter and thrive in the dynamic market by leveraging a thorough understanding of the country’s economic landscape, providing insights essential to your business needs.

Market Research Indonesia assists industry players in identifying sustainable growth strategies within Indonesia's multitude of industries, providing a grip of understanding towards the opportunities and potentials beyond the surface level.

Our engagements usually range from market entry strategies, competitive benchmarking, channel model identification, market assessments, M&A, and partner due diligence--without limiting one from the other.

With extensive experience over the years, Market Research Indonesia helps clients enter and thrive in the dynamic market by leveraging an in-depth understanding of the country’s characteristics, providing a one-of-a-kind perspective and essential insights into your business needs.

Explore Our Services

Customer Research

Gathering information about your current and potential customer base to help your business refine your strategies and approach the Indonesian market

Mergers and Acquisitions

Determine the viability of M&A by analyzing growth prospects and conducting financial analysis

Market Research

Comprehensive market research that allows your business to maintain a competitive edge and stay on top of current market trends in Indonesia

Operation Support

Helping you improve your internal operations and maximize your performance in the value chain

Business Consulting

We will step in and help you identify industry trends, market environments, possible threats, and specific challenges that your business will face

Competitor Research

Identify your competitor's strengths and weaknesses and gain insights to implement better business strategies

Our Success Stories | See All

South & central kalimantan cooking oil market assessment.

Our client wanted to utilize their palm oil plantation by producing cooking oil and would like to distribute it in Kalimantan.

Indonesia Complimentary Drink Marketing Strategy

Our client wanted to generate the sale of their product in Indonesia, as it is considered as a big market for their product.

Discuss your needs with our team

Our professionals are experienced in various strategic consulting areas and will deliver high-impact solutions for your business.

Our Expertise

Our Clients

"Our collaboration helped us to craft an expansion path for our company in Asia. They provided relevant global lubricant industry insights and delivered in-depth market analysis to support our market entry strategy. Their strategic recommendations helped us to make key decisions for our business expansion plan in a targeted Asian country."

VP Overseas Business

Our Insights

Embracing Robotization: Challenges and Opportunities in Industry 4.0

Robotization presents challenges and opportunities for businesses and the workforce, requiring companies to embrace this transformation.

Opportunities in the Indonesian Skincare Market

The rapid growth of the Indonesian skincare market presents significant opportunities for the beauty industry. Projections indicate a steady growth trajectory of 4.6% over the next five years, reflecting sustained consumer demand and market expansion. In this article, we will explore the various opportunities that the Indonesian skincare market presents for brands seeking to establish a strong foothold and thrive in this dynamic landscape.

Understanding Market Segmentation in the Indonesian Skincare Industry

Market segmentation in the Indonesian skincare industry encompasses various factors, including age, gender, income level, location, and purchasing behavior. Analyzing these segments allows brands to customize their products and marketing approaches to cater to the diverse preferences of different consumer groups.

Indonesian Skincare Market Overview: Trends and Insights

The reputation for the best skincare products has long been associated with South Korea, renowned for its innovative formulations, advanced technology, and meticulous attention to skincare routines. However, the Indonesian skincare industry has emerged as a formidable contender, offering an interesting fusion of tradition and innovation.

Market Research in Indonesia

Navigating the complex and competitive landscape of the Indonesian market is crucial for businesses aiming to succeed in today’s fast-paced environment. Indonesia, with its vast archipelago, diverse demographics, and ambitious development plans, offers significant opportunities for growth. However, the market also presents its unique challenges, from cultural diversity to regulatory intricacies. To excel in this vibrant setting, companies require more than mere data; they need strategic insights.

At Eurogroup Consulting, we are experts in Market Research in Indonesia, providing you with the insights necessary to navigate the market’s complexities and maximize its opportunities. Our experienced professionals and dedicated team are committed to equipping your business with the knowledge and insights required for making informed decisions, identifying growth prospects, and maintaining a competitive edge.

The Importance of Market Research

Market research is a critical strategic tool for businesses operating in Indonesia for several reasons:

• Understanding Consumer Behavior: Indonesia’s market is characterized by diverse consumer groups with distinct preferences and behaviors. Our comprehensive market research dives deep into these consumer insights, enabling you to tailor your offerings to the specific tastes and needs of Indonesian consumers.
• Spotting Growth Opportunities: Through market research, we can identify new market segments, emerging trends, and opportunities for growth. This serves as a guide for business expansion and diversification strategies within the Indonesian context.
• Competitive Analysis: Keeping ahead of the competition is vital in a crowded market. Our detailed market research provides the intelligence you need to benchmark against competitors, pinpointing strengths and areas for improvement, thus enhancing your competitive strategy.
• Risk Reduction: Navigating Indonesia’s complex regulatory framework can be daunting. Market research helps in understanding and adhering to local laws, minimizing legal and operational risks.

Our Market Research Methodology

Our approach to Market Research in Indonesia involves a systematic process:

• Objective Setting: Collaborating with you, we aim to clearly define the research goals, whether for launching new products, exploring new market segments, or evaluating customer satisfaction.
• Data Gathering: Utilizing various methods like surveys, interviews, focus groups, and analytics tools, we collect data. This encompasses both primary data (directly obtained) and secondary data (pre-existing sources).
• Analysis: Our expert team meticulously analyzes the data to uncover significant insights, employing advanced analytics and statistical tools for a comprehensive understanding of consumer behaviors and preferences.
• Strategic Recommendations: We translate our findings into actionable strategies, guiding your business decisions for growth.
• Continuous Monitoring: Given the dynamic nature of markets and shifting consumer preferences, we provide ongoing market monitoring to keep your business strategies up-to-date.

Advantages of Partnering with Eurogroup Consulting

Choosing Eurogroup Consulting for your Market Research in Indonesia offers numerous benefits:

• Expert Knowledge: Our market research experts possess the specialized knowledge and experience required for effective research and accurate insights.
• Objective Perspectives: As an independent entity, we deliver unbiased insights, essential for objective strategic planning.
• Resource Efficiency: With access to extensive resources, databases, and technology, we streamline the research process, offering time and cost savings.
• Global Standards: Adhering to global best practices, we ensure our research methodologies and analyses meet the highest international criteria.

Market research in Indonesia is more than a service—it’s a strategic necessity for your business’s growth and success in this dynamic market. Leveraging market research allows you to unlock Indonesia’s full potential, positioning your business for sustainable development and informed decision-making. At Eurogroup Consulting, we are your dedicated partner in this journey, committed to providing strategic insights that drive excellence. Contact us today to discover how our Market Research services can enhance your business in Indonesia.

Unlocking Your Business Potential

Our services discover our market research expertise in the indonesian market.

At Eurogroup Consulting, we excel in offering market research, strategy development, and consulting services customized for the distinctive requirements of the Indonesian market. Our areas of expertise encompass performance evaluation, project management, engineering consultancy, and market feasibility studies.

Market Research

Strategic planning, market entry strategy, mergers and acquisitions, value chain analysis, competitive benchmarking, distribution & strategic partnership, consumer behavior analysis, contact us we are always ready to help you and answer your questions.

© Eurogroup Consulting All Rights reserved.

Other website.

Marsindo Konsult Prima, renowned as Marketing Research Indonesia (MRI), was established in 1996 as an independent and full-service marketing research company focusing on the Indonesian market and customers.

Over the years, we have become a recognized leading marketing research agency with a deep understanding of measuring customer experience, satisfaction, loyalty, and engagement in various industries.

Vision and Mission

To be the first choice research agency for prominent national and multinational companies and organizations.

We are dedicated to provide clients with :

• Insights for better profits
• Quality with integrity
• Service excellence for long-term partnerships

Commitment to what we do

Integrity in all our conduct

Innovative ways of thinking and working

Excellence in processes and outcomes

Mr.Harry Puspito

President director.

Harry has a Master Degree in Applied Science from the School of Food Technology, University of New South Wales, Sydney, Australia. His bachelor degree is from the Faculty of Agriculture, Unibraw, Malang.

Harry has a vast experience in conducting business and social research – in design, execution, analysis, presenting and reporting research findings – more in quantitative but also in qualitative research.

In applications his experience covers research in usage, attitude and image study, product development, positioning, segmentation, pricing, advertising, promotion, customer satisfaction & loyalty, and mystery shopping. Regarding the subjects, he has done works on consumer goods, pharmaceutical, finance, retailing, automotive, electronics, telecommunication, fashion, agro-chemicals, fruit, industrial products, chemicals, etc.

Mrs.Ermina Yuliarti

Managing director.

Ermina is graduated from Agribusiness IPB on 1986, and has a master degree on human resources from LPPM.

During her work in marketing research, Ermina has done varieties of research, both quantitative and qualitative. Most of her later works are in banking sector, doing many banking research, with strong foothold on service quality survey using mystery shopping. In financial industry she is one of the initiators of Service Excellence Award in Banking Industry in Indonesia.

MRI is a member of MSPA (Mystery Shopping Providers Association) Asia Pacific and Ermina has been a member of the Board since 2007.

Mrs.Doktrina Tehupeiory

Operation director.

She is in charge of all operation aspects of research from 1996. In data collection she leads the team of field supervisors, team leaders and over 3000 mystery shoppers and interviewers covering over 100 cities of Indonesia.

She leads the development of the system in data collection and preparation ready for further processing. In addition, Ina’s role is also to ensure that MRI delivers high quality deliverables to clients (Quality Assurance).

Previously she worked for a bank supporting the operation, human resource, credit and system development for 10 years.

Drive your business forward with strategic decision-making

Connect with our consultants to discuss about your project

Soho Pancoran, Tower Splendor

19th Floor, Unit 15,16,17

Jl. Let Jend MT Haryono Kav 2-3

Jakarta Selatan 12810

+62 21 501 016 55

[email protected]

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• B2B Market Research
• Brand Market Research
• Concept & Product testing
• Consumer Market Research
• Consumer Online Panel
• Global Physicians Panel
• Healthcare Market Research
• Omnibus Research
• Online Market Research
• Tracking Research
• Focus Groups / Online Focus Groups
• Ethnographic Market Research
• In-Depth Interviews
• Online bulletin boards
• Usability and Testing Research
• Face to Face Interviews
• Online Surveys
• Computer Aided Telephonic Interviews (CATI)
• Computer Assisted Personal Interviews (CAPI)
• Central Location Test
• Animal Health
• Automotive Industry
• Banking and Financial Services
• Chemical Industry
• Consumer Health
• Consumer Packaged Goods
• Energy and Utilities
• Food and Drinks
• Government and Public Sector
• IT and Telecommunication
• Medical Devices and Diagnostics
• Pharmaceuticals
• Retail Industry
• Travel & Tourism
• Esomar 28 Questions
• Market Research Associations
• Research Methods
• Terms of Business
• Privacy Policy
• Animal Health Market Research
• Automotive Market Research
• Banking and Financial Services Market Research
• Chemical Market Research
• Consumer Health Market Research
• Consumer Packaged Goods Market Research
• Energy and Utilities Market Research
• Food and Drink Market Research
• Government and Public Sector Market Research
• IT and Telecommunication Market Research
• Research Services

Market Research in Indonesia

Indonesia is a unitary sovereign state and transcontinental country located mainly in Southeast Asia, with some territories in Oceania. Situated between the Indian and Pacific oceans, it is the world’s largest island country, with more than thirteen thousand islands at 1,904,569 square kilometers (735,358 square miles), Indonesia is the world’s 14th largest country in terms of land area and the 7th largest in terms of combined sea and land area. With over 261 million people, it is the world’s 4th most populous country as well as the most populous Austronesia and Muslim-majority country. Java, the world’s most populous island, contains more than half of the country’s population.

Indonesia has a mixed economy in which both the private sector and government play significant roles. The country is the largest economy in Southeast Asia and a member of the G20 major economies. It is the 16th largest economy in the world by nominal GDP and is the 7th largest in terms of GDP (PPP). The services are the economy’s largest and account for 43.3% of GDP (2016), followed by manufacturing sector (42.9%) and agriculture (13.7%). Since 2012, it has employed more people than other sectors, accounting for 44.8% of the total labor force, followed by agriculture (34.3%) and industry (20.9%). Agriculture, however, had been the country’s largest employer for centuries.

InVeritas Research is one of the Top market research company in Indonesia . We are a full service quantitative and qualitative market research Fieldwork Company committed to providing high-quality data collection and market research services.

We are among the best market research company in Indonesia for recruiting difficult to reach audiences and quality data collection and have in-depth experience of applying suitable methodologies across a wide range of different industries, geographies, and cultures. We are consistently making an impact on the growth of our clients’ businesses.

Types of different market research and data collection we do:

Face to Face Market Research in Indonesia InVeritas Research with its team of highly trained and experienced professionals has successfully conducted many F2F with consumers, decision makers and healthcare professionals in Asia, Europe, Africa and North and South American regions either directly or with the help of trusted partners.

We help our client to identify the target audience and understand perspectives and experiences of a particular industry or community and further help them to gain insight and strategize their approach.

Central Location Tests in Indonesia

Central location test is the practical way of implementing the survey which ensures high-quality results and offers key advantage of Face to Face interview which is the ideal for conducting many tests like the introduction of the new or modified product.

InVeritas Research with its team of highly trained and experienced professionals has successfully conducted Central location testing in Asia, Europe, Africa and North and South American regions.

Computer Aided Telephonic Interviews in Indonesia   (CATI)

  Our CATI team works closely with clients to understand the needs and accordingly the project is designed and executed. We have 20 professionally trained and experienced CATI interviewers with a multilingual capability and our strong quality control team which analyses every interview so that the client gets the highest quality deliverables.

Computer Assisted Personal Interview in Indonesia (CAPI)

CAPI researchers help to control the interview processes as the interviewer is present with the respondents at the time of interview and after the interview, the data collected is sent to the central computer through a secured connection.

We had have successfully conducted many CAPI researches in Asian and the Middle East countries using our proprietary panel as well as through our trusted partners for B2B, B2C, Physicians Specialist, Allied Healthcare Professionals, KOL’s and C-level Executives.

Online Surveys in Indonesia

InVeritas research is one of the Global leading providers of Consumers, B2B and Healthcare Online Market Research in the industry.

With over  4 million Consumer and B2B panelists across 25+countries  and more than  400,000+ Physicians of 70+ specialties  across the globe makes us stand out among all.

In-Depth Interviews in Indonesia

In-Depth Interviews are qualitative data collection method which helps to analyze, explore, study perception, attitude and respondent behavior to a particular idea or concept. The questions are open-ended, less structured, flexible and continuous.

We at InVeritas Research have conducted many IDI’s in different geography in persona and over the phone with difficult to reach respondents who are identified as potential source of information and allows the researcher and respondent latitude to explore an issue within the framework of the guided conversation

Focus Groups / Online Focus Groups in Indonesia

InVeritas Research market research services use Focus group discussions for consumers or businesses to collect data and insights which are most of the time less known to the provider.

Focus group discussions are more effectively utilized when the objective of the investigators is to understand consumers or professional’s views and gain in-depth insights which can be used to provide the client with data and greater clarification to determine their strategy.

Ethnography Studies in Indonesia

Ethnography is a kind of research conducted within the context of consumer experience, social interaction, behaviors and perceptions in the real world within teams, groups, organizations, and communities. It helps to understand the consumer’s environment through direct observation and exploration of their social, economic and cultural aspects which affects and influences their product selection and uses traditionally in consultation with an Anthropologist.

Online Bulletin Boards in Indonesia

InVeritas Research uses Online Bulletin board for researches involving long-term discussions which allows the respondents to share their opinion and thoughts more clearly, additionally, participants can log in at their convenience which allows more time to express their thoughts and provide richer insights.

Usability Testing in Indonesia

InVeritas Research focuses on to get a high-value aspect of the user experience which affects user satisfaction by determining their perception, needs, and anticipated cost and in turn profitability.

Industries We Serve

• Food and Drink
• Medical Devices and Diagnostic

SKRResearch

SKRResearch Is A Market Research Company That Collects Information, Analyzes Data, And Provides Market Solutions For Companies In Various Industries.

Our Vision & Mission

As a market research company, we give high quality service for satisfaction our clients

We believe we can give high standard from our service to clients and as a partners from our clients, and make market research easy for all stake holders

We Believe in Quality, and We believe clients success is our success

Trusted and Excellent Service.

Friendly and Professionalism

Focus to Quality

Qualitative and Quantitative (B2B)

Overseas and Local

Qualitative and Quantitative (B2C)

Clients I Portofolio Clients Categories

• Finance, Banking
• Technology & Digital
• Healthy and Product Healthy
• Manufacturer (FMCG, Cigarette, Alloy and Steel, Soft Drink, Seasoning, etc)
• Chambers of Commerce and Industry Embassies of foreign countries
• Sport Agency
• Trade Agency
• Market Research Agency (Overseas & Local), etc

Our Milestones

We Believe in Quality, and We believe clients· success is our success, we consistently maintain high standards for every project & consultant. We understand clients' needs, we comprehend their business specific

Establish and founded and clients local

Expand to Overseas Clients and this year our clients percetage 50% Overseas 50% Local

Focus to improvment all system make satisfactions to clients, and with clients percentage 70% Overseas, 30% Local, and many from clients recommend to them

End of year 2022 our cliients 99% from overseas with satifaction clients level 98%

Our Offered Services

Our Service for research Qualitative, Quantitative and Fieldwork Management Service

Qualitative Research

Quantitative research, fieldwork management service, desk research, our service, brand health check.

We provide the brand health check package

Development Product Research

We help enterprises identify potential market segments

Customer Behavior

Solutions that thoroughly measure customer behavior

Competitor Analysis

Using a comprehensive competitive analysis model

What Our Customers Say

Linh Nguyen

Thank you for your continued support to our project so far, and you company service for this project make all from our company happy, hope future our collaboration more closer

Mahmoud El-Shamy

I would like to thank you for your efforts & appreciate your continuous support. Also I would like to thank your team's efforts. and hope future you and your team's always support us if any project in Indonesia, we're happy for your service. very excellent service and fast to finish project.

Thank you so much for support our company every project in Indonesia, insight and service from your company make all of us happy. hope you always continues support us every project in Indonesia.

JOSEPH GRACIAS

Looking forward to working with you soon again on the next opportunity we win together, thank you be partners in my company to success Research in Indonesia, during 13 weeks and our management satisfaction.

Our Management Team

Have questions or need support? Our team is here to help!

Admin SKRResearch

Admin Clients Service

Frequently asked questions.

Got a question? We've got answers. If you have some other questions, we are here to help

What Service from SKRResearch

SKRResearch Provide service Qualitative, Quantitative, Field Management Service and Desk Research

Do You Have Experiences team ?

SKRResearch have experiences team to support Research, if Clients only need Fieldwork Only SKRResearch can to provide that and have experiences more 10 years and have internal Fieldwork, if Clients need Full Service, SKR can provide full service Research and have experiences team such like Researcher, Data Processing, Fieldwork

does SKRResearch use research technology in conducting its research?

SKRResearch adopts advanced research tools in research activities: 1. such as using togo surveys, monkey surveys, cobocolex, in quantitative research and also supported by a team that has experience in computerized data processing, 2. also use online virtual applications for qualitative such as zoom, bluejeans so that clients from abroad can witness IDI, FGD, Triad sessions 3. In real time, you can see the results given on the official SKRResearch website by logging in with the ID and password provided by the SKRResearch team.

Article Information

Find the interesting information you need

Identifying good quality health during pandemic

Development in Indonesia

Indonesia Outlook 2023 - 2025

RECENT DEVELOPMENTS IN INDONESIA

Indonesia is one of the EMDEs countries, where in 2022 it had a GDP growth of 5.3%. This growth is much higher than the global growth of 3.1%. Meanwhile, Indonesia is also predicted to have a GDP growth of 4.9% - 5.0% in 2023-2025. This is also higher than the global GDP growth which is estimated to only reach around 2.1% - 3.0%. Among the 5 countries in selected East Asian companies, the economic growth in Indonesia is not the highest, but relatively stable. During pandemic, the government of Indonesia has never allowed the lockdown. However, they imposed the Community Activities Restriction Enforcement or CARE (Pemberlakuan Pembatasan Kegiatan Masyarakat or PPKM). By doing this, the economy activities could still be done although there were some restrictions. The result was the growth of goods exports in Indonesia were significantly higher than some East Asian countries, although it was also significantly declined during the end quarter of 2022. Inflation remains above central bank targets in some countries, including Indonesia. At that time, Bank Indonesia, which is the central bank of Indonesia has signaled a pause to tighten policy rates. The region’s recovery from the pandemic-induced recession is now well advanced, with output exceeding pre-pandemic levels in many countries, including Indonesia.

Market Research Indonesia

M2insights offers market research and consulting services to assist our clients in navigating through the archipelago nation. Indonesia is the largest economy in Southeast Asia, with around half of its population under the age of 30 years old. The country is also one of Asia’s most vibrant democracies and have successfully maintained political stability in the last two decades. The working-age population ratio is expected to rise in the next ten years. The country’s middle-class population has been growing rapidly, which results in higher living standards and increase in disposable income. In the last 20 years, and the country’s economy has proven to be resilient in going through the Asian financial crisis of 1998 and the great recession of 2008. In recent years, GDP growth has averaged around 5%, and poverty rates have fallen in both rural and urban areas. 

M2insights Capabilities

Our team consist of professionals who have experience working in FMCG, agriculture, investment banking, and management consulting, and we have a deep understanding of the local business practice in Indonesia. M2insights employs full time Indonesian staffs to perform market research projects in the country.

M2ingishts is here to assist your business in understanding and winning the Indonesian market.

Quantitative Market Research

Quantitative market research methods are useful in discovering what is the latest consumer trend. M2insights perform quantitative market research studies with CAPI (computer assisted personal interviewing), CATI (computer assisted telephones interviewing), and CAWI (computer aided web interviewing). Depending on the project scope, we may also suggest using online panel surveys.

Qualitative Market Research

M2insights provides qualitative market research services by conducting in-depth interview of consumers and industry experts for a deep dive analysis of a company or an industry. Our team can also organize focus group discussion, home visit, and mystery shopping to uncover the reasons behind the consumer trend, and how it might evolve in the future.

Market Entry Strategy

M2insights assists clients in evaluating their unique selling points and their competitors’ strategies and capabilities in Indonesia. We help our clients in analyzing the potential market size in the country. As part of our market research and consulting services, our team will deep dive into the competitors’ products or services and their strengths, weaknesses, and market shares to create a tailored strategy to assist our clients entering the Indonesian market.

Product Localization

Products or services that work well in your home markets may not be suitable for Indonesia. Localization maybe driven by regulatory requirements or a cultural preference.

In recent years, Indonesia has passed regulations requiring certain pharmaceutical products to be manufactured locally with local partners. The government has also required mobile phones sold in the country to contain locally made components. It is also essential for food, beverage, and pharmaceutical principals to understand the local Halal requirements and consumers’ preference.

Our market research service will allow your business to identify what needs to be localized to improve your consumer satisfaction, to comply with local regulation, and to increase your consumer base.

Technology Startups Investments

M2insights provides industry or country specific analysis, analysis on a target company for investment purposes, and due diligence research to investors looking to invest in Indonesia technology startups. Our firm has also assisted investment companies who are performing market research on M&A targets to determine the actual market size, value, and potential return on the investment.

Recent Developments in Indonesia

Relocation of the capital city.

President Joko Widodo has announced in 2019 on the relocation plan of the capital city from Jakarta to a newly proposed city in East Kalimantan, close to Balikpapan. The government has planned for the new capital to be built by 2024. Softbank and Saudi Arabia were reportedly interested in investing on the construction of the new smart capital.

Draft Omnibus Law

Since late 2019, the Indonesian government has been preparing a new law that would regulate several provisions from various industries into one law. The aim of the new law is to improve the ease of doing business, strengthen the Indonesian economy, increase competitiveness, and create jobs. The draft introduced the new concept of risk-based business licensing requirement which clearly divides the application process for licensing and certification for businesses into low-risk, medium-risk, and high-risk. The new law is also expected to simplify land acquisition processes and investment requirements.

Impact of Covid-19

Indonesia’s capital city Jakarta has been on locked down since 10 April 2020. The lockdown is scheduled to be lifted on 4 June 2020. In April 2020, The Jakarta Post reported that as many as 1.2 million Indonesian workers have either been put on furloughed or laid off due to the pandemic. Bank Indonesia, the country’s central bank, reported that fashion related product retail spending growth were down 38% year-on-year in first quarter of 2020. Retail spending on IT and communication categories were also down by 6% year-on-year in first quarter of 2020. 

Why invest and do business in Indonesia?

Economic growth.

According to the Asian Development Bank, Indonesia’s economy has grown tenfold and the per capita income has risen eightfold since the Asian financial crisis in 1998. By 2004, Indonesia has reached middle-income status, and poverty levels fell to single digits for the first time in 2018.

Indonesia is a member of G20, and it is the 16th largest economy in the world by nominal GDP. The country’s nominal GDP grew by 5.2% in 2018, reaching US$1.042 trillion. Studies by various organizations expect Indonesia to be in the top 10 largest economies in the world by 2050.

Domestic Market

Indonesia has the fourth largest population in the world at over 260 million people, and more than 56% of the people living in urban areas with a modern lifestyle and increasing purchasing power.

According to the World Bank, Indonesia’s middle-class population has grown from 7% to 20% of the population between 2004 and 2019. There are currently 52 million Indonesians classified as middle class. The aspiring middle class is currently 45% of the population, or around 117 million people. Indonesia has also successfully reduced its poverty rate to 9.4% of the population in 2019. Demand from the middle-class population is the driver of growth, as it is the source of almost half of the total household expenditure in Indonesia.

Demographics

Around half of the Indonesia’s population is below the age of 30 years old. The World Bank reported that the working-age population ration in Indonesia was 47.95%. This is expected to rise in the next few years. The government is expecting demographic bonus in 2025-2035, when the number of people within the productive age bracket is higher than the number of elderly people and children.

Plenty of problems to be solved

Indonesia has plenty of fundamental challenges that offers opportunities to businesses and investors. The country is rapidly building infrastructure, securing food and energy supplies, and trying to boost financial inclusion.

President Joko Widodo announced in 2019 that the capital city will be relocated from Java to Borneo, to spread out the development in the country, and spur growth in central and east Indonesia. Infrastructure development has been focused on its main island Java. To put things in perspective, the first express way in Borneo was just opened in 2019.

Food production and agriculture are also centered in Java. In the energy sector, inefficient and extremely high distribution cost of oil and gas in east Indonesia have long been a hot topic that the government is trying to solve. When it comes to financial inclusion, as many as 95 million people Indonesians are still classified as unbanked by the World Bank in 2017.

Huge market for technology startups

The problems faced by Indonesia combined with large proportion of young and tech-savvy population present a golden opportunity for technology startups to flourish. Indonesia is currently home to six unicorn startups in e-commerce, travel, fintech, and ride hailing sectors. In recent years, logistic-tech startups and P2P online lenders are also seeing excellent growth in Indonesia. Even the more traditional local businesses have started building their online presence through e-commerce marketplaces or building their own online shops.

Natural Resources

Indonesia has plenty of natural resources. Some of the country’s top export commodities are coal, crude palm oil (CPO), liquid natural gas (LNG), crude oil, and rubber. Indonesia also has large mineral deposits including tin, iron ore, bauxite, and nickel. Indonesia’s climate and fertile land are also well suited for the cultivation of coffee and cocoa.

Challenges in Understanding the Indonesian Market

Indonesia is a diverse country with many different tribes speaking local dialects and a sizeable overseas Chinese population, but most of the population speaks Bahasa Indonesia. The working language for government and business is Bahasa Indonesia, and most of its citizens do not speak foreign language. Understanding the language is essential to perform market research in the country. Products and services also need to be translated to local language to comply with regulation. M2insights employs full-time staffs who are native Bahasa Indonesia speakers to assist our clients in market research.

Almost 57% of the Indonesian population live in Java island, and more than 87% of the population are Muslims. The Indonesian culture is heavily influenced by these two factors. It is essential for consumer goods companies trying to penetrate the Indonesian market to understand the Halal certification requirements to cater to the large Muslim population. Business activities tends to slow down during the Ramadhan, Islam’s holy fasting month, but consumer spending tends to pick up as the population are preparing for the Eid al-Fitr celebration. M2insights team offers market research and consulting services to companies trying to understand the Indonesian consumers and their culture.

Regulations

Since 2015 Indonesia has jumped 34 places in the World Bank’s Ease of Doing Business ranking, the country is currently ranked 72nd. Despite the significant improvement, Indonesia is still far behind its Southeast Asian neighbors Singapore, Malaysia, and Thailand. Foreign companies often find the Indonesian market tough to conquer because of the complicated bureaucracies and protectionism laws. Our market research and consulting services to assist companies in understanding and complying with these regulations. 

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Don’t forget to check out Our Observations!

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By 2025, Indonesia’s digital economy is expected to contribute USD 150 billion to the GDP. To achieve the target, the Indonesian government is currently implementing a massive infrastructure development

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In the realm of business, knowledge truly is power. Market Research Services equip you with the insights needed to make informed decisions, tailor strategies, and stay ahead of the competition. Let's delve into the world of Market Research, shedding light on what it encompasses, its benefits, and how to find the right partner for your project. Market Research Services are the guiding light that illuminates your business's path. These services involve systematic collection and analysis of data related to your industry, competitors, and target audience. By understanding market trends, customer behaviors, and competitive landscapes, you gain a comprehensive picture that informs your strategic choices.

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The ICT Industry in Indonesia: Data & Insights

By 2025, Indonesia’s digital economy is expected to contribute USD 150 billion to the GDP. To achieve the target, the Indonesian government is currently implementing a massive infrastructure development. 

 As part of the digital transformation, the government has launched several national programs among others are Go Digital Vision 2020, e-smart IKM, and 100 Smart City Movement. These programs aim to develop local startups, support small to medium enterprises (SMEs) as well as to prepare and embrace the internet of things (IoT).

Why working with Indonesian IT companies

What makes Indonesian IT companies and web agencies attractive is the way how young professionals have managed to adapt to new technologies and implement global business trends in their own business model. 

Currently, updating the company’s system is one of the factors that influence the success of a business. The more sophisticated the company’s technology, the easier the transaction process and faster time of its request process. This has an attraction that has become a trend in the Indonesian market nowadays.

What you should pay attention to when working with Indonesian IT companies

Even though the government invests in skilled professionals and the development of IT education, most of the IT companies and creative agencies from Indonesia lack experience and are predisposed to inefficient communication and project management. This can be challenging for potential foreign customers of the sector, but nonetheless, it contributes to the development of the Indonesian business environment.

How reliable are Indonesian IT companies

Despite e-commerce and fintech developments, Indonesia had the highest percentage of Cybercrime of a malware attack in the world (China was second with 21.26 percent). Malware is a particular problem in Indonesia along with spam and other types of email-based scams. But what Indonesian IT companies made , was transforming the challenge into opportunities, and developed the cybersecurity infrastructure, making the country well-known on the global stage as a trustworthy source of professionals and companies that can handle this type of threat according to Visiglobal online portal.

How does the Indonesian IT infrastructure relate to the region?

According to the Swiss Global Enterprise report from 2019, most of the contributors to Indonesia’s ICT import are from China and the ASEAN neighbors. Indonesia has received foreign investments and witnessed several joint ventures between foreign and local companies.

However, based on another report from the Australian Trade Commission , the Indonesian ICT market features intense competition from Korean, Chinese and the United States, players

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• 08 September 2021

Indonesia’s science super-agency must earn researchers’ trust

You have full access to this article via your institution.

Former president Megawati Soekarnoputri will chair Indonesia’s science ‘super-agency’, BRIN. Credit: WF Sihardian/Pacific Press/LightRocket/Getty

For decades, Indonesia’s leaders have watched as the nation’s southeast Asian neighbours have become powerhouses for technology and innovation. Indonesia lacks the tech multinationals on the scale of Singapore, Thailand or Malaysia. Its businesses contribute just 8% of expenditure on research and development (R&D), and technology exports comprise less than 10% of all exports. By contrast, Malaysia and Singapore’s businesses account for around half of all R&D spending, and technology makes up half of exports.

Successive Indonesian governments have debated how the country can emulate its peers, and in 2017 the research ministry, Kemenristek, proposed that researchers and businesses should work more closely. But for reasons that are still not entirely clear, the government of President Joko Widodo decided it was time to shake up the entire science system. The cabinet-level research ministry has been merged with the education ministry, and a new ‘science super-agency’, BRIN, was inaugurated on 28 April.

BRIN is led by Laksana Tri Handoko, previously the head of the Indonesian Institute of Sciences, which was one of the country’s oldest national research organizations, employing some 2,000 researchers in mostly applied fields. Funding data have not yet been released, but BRIN’s budget is likely to be many multiples of the universities budget.

The move has proved unpopular with Indonesia’s science community. Opposition to BRIN has united organizations spanning the generations, including both the Indonesian Academy of Sciences and the Indonesian Young Academy of Science.

Last week, BRIN absorbed the institute of sciences, along with other previously stand-alone research organizations, including the National Nuclear Energy Agency and the space and aeronautics agency. BRIN will eventually assume responsibility for R&D conducted in many — if not all — government departments. The agency will be overseen by a steering committee headed by Megawati Soekarnoputri, a former president of Indonesia and the chair of the governing Indonesian Democratic Party of Struggle.

India must protect the independence of its landmark science agency

Handoko told Nature that the changes are needed to bring coherence to a fragmented research system. He says grants will be awarded on the basis of independent peer review. Moreover, combining many different research and funding sources into one giant fund (including monies derived from a levy on businesses) will allow Indonesia to invest the sizeable sums needed to build research and technology infrastructure.

But researchers fear such a structure is a recipe for political interference in science funding. Furthermore, it isn’t yet clear how BRIN will boost innovation. Satryo Brodjonegoro, head of the Indonesian Academy of Sciences, told Nature that BRIN’s creation is a setback for Indonesian science.

Researchers are right to be concerned. Although Indonesia’s government spends little of its national income on R&D (in 2018, spending accounted for just 0.23% of gross domestic product), in the past decade scientists in the country have recorded southeast Asia’s highest rate of growth in scientific publications. This is partly because, since 2017, the nation’s researchers have been evaluated according to their output in international journals.

Publications grew from 6,080 in 2013 to 37,513 in 2019, according to data compiled by the United Nations science agency UNESCO (go.nature.com/3n4ky30). Of these, 24% are in physics and astronomy, and 27% are in strategic areas such as artificial intelligence, energy, materials science and nanotechnology. Indonesia has also recorded significant gains in publishing related to the UN Sustainable Development Goals, and the proportion of researchers in the population has been rising.

In the past, President Widodo has complained that researchers are not doing enough to boost innovation, but scientists fear that the country’s top leadership does not understand or respect their achievements.

It is rare to see a country bring previously autonomous R&D agencies under the control of a single body. The United Kingdom’s 2018 merger of nine funding agencies into UK Research and Innovation (UKRI) is an exception. Most countries in which R&D is organized more centrally — such as China — created this type of arrangement at the start. Meanwhile, some countries with relatively centralized systems, such as India and France, are on a path to decentralization by strengthening research and innovation in universities.

Egalité: France’s research reforms must balance competitiveness with well-being

Other nations with a strong research tradition, such as Germany and the United States, spread responsibility for science funding, governance and accountability across multiple organizations. Accountability is particularly important, because it helps to ensure that the autonomy of staff and grant recipients is protected. And that is where Indonesia’s plans carry perhaps the greatest risk. This urgently needs to be mitigated.

BRIN’s leadership should consult Indonesia’s science and innovation policy-research community, in which these questions have long been studied. At the very least, BRIN should consider giving Indonesia’s parliament some kind of oversight role. Parliamentarians could, for example, approve its budget and check that promises of non-interference are being kept. The United Kingdom chose not to have UKRI report to Parliament; compared with the previous arrangements, this move potentially increases government influence over science funding.

A science agency chaired by one of Indonesia’s most powerful political figures, reporting directly to the president, does have its advantages — science will clearly be represented at the highest level of government. But there might come a time — as a result of a change in government, for example — when BRIN’s leadership and Indonesia’s president come from different political parties. The agency will need to function just as well in such a scenario. This is why safeguards against interference and potential conflicts of interest need to be put in place, and why parliament needs to have a stronger role.

The creation of BRIN is, without doubt, an ambitious reorganization, but it’s not clear how the agency will help Indonesia with its technology ambitions. More clarity and better communication are needed, and governance architecture must be designed in such a way that it outlasts its founders. Only then will Indonesian science and innovation truly thrive.

Nature 597 , 151-152 (2021)

doi: https://doi.org/10.1038/d41586-021-02419-4

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How two telcos in Indonesia are bringing inclusivity to 17,500 islands

Eric Kutcher , a senior partner at McKinsey, talks to the leaders of two of Indonesia’s largest telecommunications providers—Ririek Adriansyah, president director of PT Telkom Indonesia Tbk (Telkom), and Vikram Sinha, president director and chief executive officer of Indosat Oredoo Hutchison (Indosat or IOH). Referencing the diversity of a country that consists of thousands of islands, they talk about the challenges of creating an inclusive society and how global digital trends and connectivity can be used to Indonesia’s advantage to create growth opportunities.

Individual interviews have been edited and combined to create “conversations” on pertinent themes.

McKinsey: What are the main obstacles—and possible solutions—to unleashing inclusive and sustainable growth in Indonesia?

Ririek Adriansyah: I see a great opportunity that comes with digitizing the nation. Indonesia comprises about 17,500 islands and the challenge is how to create connectivity for all of them. If we can do this, it could benefit all aspects of society. Take education, for example—it is difficult to build a school in a remote area and get a good teacher to work there. However, if people are connected to broadband, they can study from wherever they are. This applies to other sectors, too, such as healthcare. There are fewer doctors than are needed in remote areas and connectivity could help—imagine if one good doctor in Jakarta could start taking care of people in very remote areas. That could also aid businesses, big and small alike—for example, large agricultural product companies with remote operations that require connectivity to support their activities, or micro, small, and medium enterprises (MSMEs) that could become more productive and gain greater access to markets if they have increased connectivity. Overall, we at Telkom believe that boosting connectivity in remote areas is key in accelerating inclusive growth.

Vikram Sinha: The big opportunity for Indonesia’s future lies in what I term “growth beyond the metropolitan.” The country’s growth over the past decade has predominantly stemmed from the digital economy within metropolitan hubs, comprising just 15 percent of the nation’s population and contributing 30 percent to national GDP. The substantial opportunity that lies ahead now resides in Tier-2 and Tier-3 cities. Collectively home to approximately 124 million people and constituting 43 percent of GDP in Indonesia, these cities encompass 76 percent of the national urban population.

GDP per capita in these cities—although half that of the metros—is on a trajectory to surpass national growth, with digital technology acting as a primary catalyst. The digital economy in these areas is poised for expansion, buoyed by rising monthly incomes and enhanced digital infrastructure. Tier-2 and Tier-3 cities possess the potential to propel the nation’s overall growth.

Another substantial opportunity lies in Indonesia’s backbone: the MSMEs. Numbering 64 million, they account for 60 percent of the nation’s GDP. Less than 12 percent of these enterprises have embraced digital solutions and a considerable majority lacks access to financial credit. The prospect here lies in facilitating their innovation and providing avenues to access global markets.

Both the opportunities I mention are intricately interconnected, as a significant portion of these MSMEs hail from Tier-2 and Tier-3 cities, creating a symbiotic relationship between the two growth vectors.

McKinsey: What could it take to unlock this potential?

Ririek Adriansyah: We need to create a more inclusive economy. The challenges in doing this are numerous. First, it will be expensive to set up a network and the infrastructure to bring connectivity to so many islands, assuming we can do that. Second, of those people with connectivity, about 80 percent use smartphones, meaning there is still a substantial number of people without devices. One reason for this is that devices are not affordable for many. So, while we wish to give more people connectivity, we face this problem. Another challenge is talent—research shows nearly 90 percent of companies identify shortage of talent as a critical gap in driving their digital transformation journeys. If we can develop our digital talent, I believe Indonesia could leapfrog to become nearly as advanced as a developed country. As this talent pool is cultivated, it’s crucial that growth extends beyond Jakarta, which currently accounts for 70 percent of the nation’s digital talent.

Yet another factor is the need for MSMEs to be better enabled. If you look at Indonesia’s economic structure, more than 97 percent of people work in MSMEs and, as Pak Vikram mentioned, MSMEs contribute to around 60 percent of Indonesia’s GDP; yet relatively few have moved towards active digital implementation. If we could stimulate digital adoption and provide a better environment for these businesses to grow in, the economy would benefit immensely. For example, I have visited coffee farmers in very remote areas in the north of Kalimantan. Their coffee is very good, but they can only sell it locally as it is too expensive for them to access wider markets. There are two things we could do to help—one, create easier access to markets, and, two, provide better logistics management so that they can ship their merchandise more efficiently. A myriad of telco service offerings, coupled with growing public awareness, could play a pivotal role in the customer journey.

Vikram Sinha: To fully unlock Indonesia’s vast potential, a strategic focus on two key areas is imperative. First, a substantial commitment to transforming our human capital is paramount. The expansive and diverse nature of our nation has posed challenges to the development of a cohesive national educational infrastructure. Despite increased budget allocations to education, the existing infrastructure falls short of meeting the growing demands. Approximately 50 percent of students face barriers that prevent them from progressing beyond primary education. Consequently, less than 11 percent of Indonesia’s workforce hold tertiary education credentials. Elevating this figure to 25 percent could contribute an additional five percentage points to our GDP.

The second critical area is women’s empowerment. Presently, women’s labor participation stands at 54 percent, notably lower than 84 percent for men. Additionally, there are limitations in women’s literacy and digital literacy, and women “micropreneurs” encounter challenges in accessing credit. By actively promoting and enhancing women’s participation in the workforce, we can unlock substantial economic potential.

McKinsey: Why is digital technology critical to this growth? What role can it play? Ririek Adriansyah:  Digital technology has the potential to empower Indonesians immensely and catalyze the country’s growth and development by providing access to information, fostering innovation, and enabling participation in the global digital economy. Access to connectivity is fundamental to this growth. Every 10 percent increase in broadband penetration can drive a 1 to 1.5 percent increase in GDP per capita. Ensuring that every Indonesian has access to reliable connectivity could provide access to markets and connect them with better education and healthcare opportunities. Beyond connectivity, we need to ensure that the right platforms and services are developed, and that the population is aware of these platforms so that these technologies can be used effectively.

Vikram Sinha: Digital technology is the silver bullet to address the challenges and opportunities. It’s a powerful tool that can connect all of Indonesia’s islands and every part of our nation. It acts as a bridge to create growth that includes everyone and is sustainable. In Tier-2 and Tier-3 cities, where people are getting more familiar with digital tools and their incomes are rising, digital infrastructure is making a big impact. The same goes for our MSMEs. The fact that not many of them are using digital tools right now means there’s an opportunity for growth. Because of the rise of B2B digital marketplaces, MSMEs become more visible as they adopt digital, which makes it easier for them to get credit and grow.

Digital technology is also crucial for solving challenges in education and empowering women. By combining government investments with support from private businesses, we have a great opportunity to bring education to everyone, especially women. Online learning and digital financing offer significant growth opportunities for both new and established businesses. This combination of digital tools and education not only opens up possibilities for the workforce, but also propels businesses toward an innovative and sustainable future.

McKinsey: What are some of the key digital technology trends that you’re seeing globally? How are they affecting Indonesia?

Ririek Adriansyah:  We are seeing AI growing around the world and, globally, it is expected to bring about an additional 1 percent or so of GDP growth by 2030. I believe it is going to play a big role in Indonesia, as it can provide huge opportunities for people. Capturing this opportunity is essential as I believe it could give an economic advantage to those who do. Many companies in the country will be able to grow using platforms built on lessons from other parts of the world.

We’re not using AI in a big way yet in our company, but we are planning to. We are using it internally, and we have a team looking at the possibilities it can bring and how we can use it effectively to enhance our internal operations and the way we provide services to our customers. We plan to use AI in a pragmatic manner through testing, learning, and scaling cycles. We are also working with various partners, some of whom are in the United States, that are ahead of us in the AI journey and from whom we can learn more.

Vikram Sinha: The global landscape is witnessing profound shifts, driven by the growth of the digital economy and the pervasive influence of AI. These trends are not just shaping the country’s technological landscape but revolutionizing it.

Undoubtedly, the digital economy stands out as a powerhouse, with Indonesia emerging as an attractive digital economy in Southeast Asia. The sector has seen remarkable growth, reaching US $82 billion in 2023, and is projected to soar to US $210 billion by 2030. This surge has given rise to over 15 unicorns and two decacorns in Indonesia as of 2023, solidifying this sector’s position as a catalyst propelling the country forward. The next wave of innovation in sectors such as agriculture, gaming, education, and entertainment promises to be a captivating development to watch.

In the realm of technology, AI takes center stage in every conversation today. Leading digital players in Indonesia are harnessing AI to personalize experiences.

McKinsey: How can digital technologies be harnessed to accelerate the country’s growth and development?

Ririek Adriansyah: With a vast population spread across thousands of islands, Indonesia faces challenges in access to education, healthcare, and economic opportunities. Digital technology can bridge these gaps by providing online learning platforms, telemedicine services, and remote work opportunities, thus widening access to essential services and unlocking the potential of individuals across the country. Additionally, digital innovation can spur economic growth by empowering entrepreneurs and MSMEs to leverage e-commerce, digital marketing, and fintech solutions to reach new markets and scale their businesses. This not only drives job creation but also fosters economic resilience and inclusivity. All of this can be enhanced and accelerated with widespread connectivity and data center infrastructure, in which Telkom continues to invest.

Vikram Sinha: Generative AI has demonstrated its potential to democratize access to complex technology, making it accessible to everyone. This revelation has led me to envision that the most significant innovation opportunities for Indonesia lie at the crossroads of social media, e-commerce, education, and AI. Consider the possibilities if AI integrated in social media or mobile applications could facilitate financial inclusion or deliver education seamlessly within existing consumer journeys—this could be a groundbreaking achievement in overcoming numerous challenges.

With the foundational pillars of a robust network infrastructure nearly in place, Indosat’s current focus is on investing in the subsequent building blocks of data centers, cloud services, and AI. I am optimistic that, by the end of this decade, substantial progress will have been made, paving the way for transformative advancements in Indonesia’s technological landscape.

McKinsey: Your organizations aspire to create digital inclusivity in Indonesia and empower people. Tell us about this journey.

Ririek Adriansyah: We have three pillars in Telkom. The first is connectivity, which is still our core business. The second is the natural extension of connectivity—data centers, cloud, big data. The third one is what we call digital service and here we might have to partner with somebody.

As I said earlier, about 80 percent of the population already own smartphones. There are two factors that contribute to this. First, the cost of mobile phones seems to be declining. And second, which might be different from the United States, is that the second-hand mobile phone market is huge in Indonesia. So, smartphones are more readily available—except for that 20 percent of the population. The question is how to address that challenge. Take for example, in India—Jio is able to provide people with limited budget smartphones at no cost. Indonesia does not yet have a similar ecosystem. The other challenge is after-sales services. In Indonesia, it may not be viable to have a service center on an island that might have ten or 400 people. The logistics of serving customers is getting better but we are not 100 percent there.

Also, networks can be challenge—even though 95 percent of the country is covered, the remaining areas still need connectivity and we should not discount that. There are more than 5,000 villages that have limited connectivity and over 80 percent of households do not yet have fixed broadband access. Telkom remains committed to be at the forefront of advancing connectivity access in the country, with a focus on expanding mobile, as well as fixed access and backbone networks.

Vikram Sinha: In response to the dynamic changes in the telecom landscape and the imperative for growth, we embarked on a strategic merger with Hutchison Tri, making us the second-largest telco in the nation, with a user base of 100 million subscribers. This successful merger marked a significant milestone, enabling us to make substantial investments in expanding our scale and coverage throughout the country.

Our focus is aligned with the belief that the key to Indonesia’s prosperity lies in fostering inclusive and sustainable growth. This conviction underpins our significant investments in driving growth beyond metropolitan areas and supporting MSMEs, the backbone of our nation. We recognize that the pervasive influence of digital technology holds the potential to drive human capital transformation and empower women. Our journey is about delivering tangible benefits to every Indonesian, ensuring that the power of connectivity and digital experiences reaches every corner of our diverse nation.

McKinsey: What personal leadership qualities are critical in this journey?

Ririek Adriansyah:  I tend to see the big picture and think about what is best for the country and its people, and how to bring inclusivity. For example, I have been inspired by Google. The first time I used Google was when I set up a personal email account when Gmail was first introduced, and I still use it. At the time, I was amazed that Google search is free. Back then, I wondered if Google knew how to monetize and, of course, now I can see that it did. Our purpose as an organization is to create a more prosperous and competitive nation and provide added value for stakeholders. My own North Star is aligned to this and is about bringing digital access and services to as many people as possible. As long as we deliver that, we will know how to grow and monetize our journey. We deeply reflect on our purpose and spend time as a leadership team considering whether our actions reflect our commitment to “bring the world to your hand.”

Vikram Sinha:  As I reflect on my five-year journey in this country, numerous interactions with remarkable leaders have unveiled three pivotal leadership qualities that encapsulate the essence of this nation and, in my belief, can propel us forward on our journey.

The first quality is encapsulated in the phrase, “aspire big, play for purpose.” This nation is defined by an immense sense of national pride—nothing resonates more deeply with every Indonesian. By uniting the pursuit of ambitious goals with a commitment to a larger purpose, we can bring the nation's collective aspirations to fruition.

The second quality is rooted in the Indonesian spirit of  gotong royong , a selfless cultural tradition fostering collaboration for shared benefits. By embracing this ethos, we can cultivate win-win partnerships, recognizing that collective success is the true measure of our achievements.

Last, the third quality lies in what I call Standard Operating Process mastery. To achieve our goals, there must be an unwavering focus on execution. Witnessing firsthand Indosat teams’ exceptional organization and dedication to delivering outcomes once a plan is set, I understand the critical importance of meticulous execution in our journey forward.

Ririek Adriansyah is president director of Telkom Indonesia. Vikram Sinha is president director and chief executive officer of Indosat Ooredoo Hutchison (IOH). Eric Kutcher is a senior partner in McKinsey’s Bay Area–Silicon Valley office.

Comments and opinions expressed by the interviewees are their own and do not represent or reflect the opinions, policies, or positions of McKinsey & Company or have its endorsement.

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THE EFFECT OF SUPPLY CHAIN DRIVERS ON PRODUCTION PERFORMANCE IN THE INDONESIAN FOOD AND BEVARAGE MANUFACTURING INDUSTRY

The food and beverage industry is a major contributor to the Indonesian economy, and the Covid-19 epidemic heavily influence on its supply chain sustainability. The purpose of this study was to examine the effect of innovation and demand optimization on partnerships in production and production performance in the food and beverage manufacturing industry in Indonesia. This research is a quantitative study using PLS-SEM. Data collection in this study was carried out by distributing questionnaires with a sample of 54 respondents of owners and managers working in the medium-large food and beverage manufacturing companies in Indonesia. The findings indicate that innovation and demand optimization can encourage companies to do partnerships in production. Innovation and demand optimization also shown to improve company’s production performance. However, there is no significant effect between partnerships in production and production performance. This is because partnerships often experience a dilemma due to the influence on company performance which may either be favorable or unfavorable to the production performance. The research findings extend literature of supply chain management in the context of internal perspectives of the companies. The context of the research is limited to small numbers of medium-large companies in Indonesia, thus, call for further examination with a larger sample size and in different contexts for further finding generalization. This research provides broader view on the internal perspectives of company’s supply chain management through the perspective of Resource Based View, as well as providing several suggestions for managers of medium-large food and beverage manufacturing companies in developing countries.

Abstrak dalam Bahasa Indonesia. Industri makanan dan minuman merupakan kontributor utama perekonomian Indonesia, dan pandemi Covid-19 sangat mempengaruhi keberlanjutan rantai pasokannya. Tujuan dari penelitian ini adalah untuk menguji pengaruh inovasi dan optimalisasi permintaan terhadap kemitraan produksi dan kinerja produksi pada industri manufaktur makanan dan minuman di Indonesia. Penelitian ini merupakan penelitian kuantitatif dengan menggunakan PLS-SEM. Pengumpulan data pada penelitian ini dilakukan dengan menyebarkan kuesioner dengan sampel sebanyak 54 responden pemilik dan manajer yang bekerja pada perusahaan manufaktur makanan dan minuman menengah-besar di Indonesia. Temuan menunjukkan bahwa inovasi dan optimalisasi permintaan dapat mendorong perusahaan untuk melakukan kemitraan dalam produksi. Inovasi dan optimalisasi permintaan juga terbukti meningkatkan kinerja produksi perusahaan. Namun, kemitraan produksi tidak berpengaruh signifikan terhadap kinerja produksi. Hal ini disebabkan karena kemitraan produksi seringkali mengalami dilema apakah bisa menguntungkan atau merugikan terhadap kinerja produksi. Temuan penelitian ini memperluas literatur manajemen rantai pasokan dalam konteks perspektif internal perusahaan. Konteks penelitian ini terbatas pada sejumlah kecil perusahaan menengah-besar di Indonesia, sehingga memerlukan penelitian lebih lanjut dengan jumlah sampel yang lebih besar dan dalam konteks yang berbeda untuk meningkatkan generalisasi temuan penelitian. Penelitian ini memberikan pandangan yang lebih luas mengenai perspektif internal manajemen rantai pasok perusahaan melalui perspektif Resource Based View, serta memberikan beberapa saran bagi para manajer perusahaan manufaktur makanan dan minuman menengah-besar di negara berkembang

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Febrianto, N., Akhiroh, P., Helmi, M., & Hartono, B. (2023). Effects of Partnership Patterns on Broiler Chickens Performance in the Agribusiness System of Indonesia. Journal of World's Poultry Research . https://doi.org/10.36380/jwpr.2023.36

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Karmaker, C. L., Ahmed, T., Ahmed, S., Ali, S. M., Moktadir, M. A., & Kabir, G. (2021). Improving supply chain sustainability in the context of COVID-19 pandemic in an emerging economy: Exploring drivers using an integrated model. Sustain Prod Consum , 26 , 411-427. https://doi.org/10.1016/j.spc.2020.09.019

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The huge solar storm is keeping power grid and satellite operators on edge

Geoff Brumfiel

Willem Marx

NASA's Solar Dynamics Observatory captured this image of solar flares early Saturday afternoon. The National Oceanic and Atmospheric Administration says there have been measurable effects and impacts from the geomagnetic storm. Solar Dynamics Observatory hide caption

NASA's Solar Dynamics Observatory captured this image of solar flares early Saturday afternoon. The National Oceanic and Atmospheric Administration says there have been measurable effects and impacts from the geomagnetic storm.

Planet Earth is getting rocked by the biggest solar storm in decades – and the potential effects have those people in charge of power grids, communications systems and satellites on edge.

The National Oceanic and Atmospheric Administration says there have been measurable effects and impacts from the geomagnetic storm that has been visible as aurora across vast swathes of the Northern Hemisphere. So far though, NOAA has seen no reports of major damage.

The Picture Show

Photos: see the northern lights from rare, solar storm.

There has been some degradation and loss to communication systems that rely on high-frequency radio waves, NOAA told NPR, as well as some preliminary indications of irregularities in power systems.

"Simply put, the power grid operators have been busy since yesterday working to keep proper, regulated current flowing without disruption," said Shawn Dahl, service coordinator for the Boulder, Co.-based Space Weather Prediction Center at NOAA.

NOAA Issues First Severe Geomagnetic Storm Watch Since 2005

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"Satellite operators are also busy monitoring spacecraft health due to the S1-S2 storm taking place along with the severe-extreme geomagnetic storm that continues even now," Dahl added, saying some GPS systems have struggled to lock locations and offered incorrect positions.

NOAA's GOES-16 satellite captured a flare erupting occurred around 2 p.m. EDT on May 9, 2024.

As NOAA had warned late Friday, the Earth has been experiencing a G5, or "Extreme," geomagnetic storm . It's the first G5 storm to hit the planet since 2003, when a similar event temporarily knocked out power in part of Sweden and damaged electrical transformers in South Africa.

The NOAA center predicted that this current storm could induce auroras visible as far south as Northern California and Alabama.

Extreme (G5) geomagnetic conditions have been observed! pic.twitter.com/qLsC8GbWus — NOAA Space Weather Prediction Center (@NWSSWPC) May 10, 2024

Around the world on social media, posters put up photos of bright auroras visible in Russia , Scandinavia , the United Kingdom and continental Europe . Some reported seeing the aurora as far south as Mallorca, Spain .

The source of the solar storm is a cluster of sunspots on the sun's surface that is 17 times the diameter of the Earth. The spots are filled with tangled magnetic fields that can act as slingshots, throwing huge quantities of charged particles towards our planet. These events, known as coronal mass ejections, become more common during the peak of the Sun's 11-year solar cycle.

A powerful solar storm is bringing northern lights to unusual places

Usually, they miss the Earth, but this time, NOAA says several have headed directly toward our planet, and the agency predicted that several waves of flares will continue to slam into the Earth over the next few days.

While the storm has proven to be large, predicting the effects from such incidents can be difficult, Dahl said.

Shocking problems

The most disruptive solar storm ever recorded came in 1859. Known as the "Carrington Event," it generated shimmering auroras that were visible as far south as Mexico and Hawaii. It also fried telegraph systems throughout Europe and North America.

Stronger activity on the sun could bring more displays of the northern lights in 2024

While this geomagnetic storm will not be as strong, the world has grown more reliant on electronics and electrical systems. Depending on the orientation of the storm's magnetic field, it could induce unexpected electrical currents in long-distance power lines — those currents could cause safety systems to flip, triggering temporary power outages in some areas.

my cat just experienced the aurora borealis, one of the world's most radiant natural phenomena... and she doesn't care pic.twitter.com/Ee74FpWHFm — PJ (@kickthepj) May 10, 2024

The storm is also likely to disrupt the ionosphere, a section of Earth's atmosphere filled with charged particles. Some long-distance radio transmissions use the ionosphere to "bounce" signals around the globe, and those signals will likely be disrupted. The particles may also refract and otherwise scramble signals from the global positioning system, according to Rob Steenburgh, a space scientist with NOAA. Those effects can linger for a few days after the storm.

Like Dahl, Steenburgh said it's unclear just how bad the disruptions will be. While we are more dependent than ever on GPS, there are also more satellites in orbit. Moreover, the anomalies from the storm are constantly shifting through the ionosphere like ripples in a pool. "Outages, with any luck, should not be prolonged," Steenburgh said.

What Causes The Northern Lights? Scientists Finally Know For Sure

The radiation from the storm could have other undesirable effects. At high altitudes, it could damage satellites, while at low altitudes, it's likely to increase atmospheric drag, causing some satellites to sink toward the Earth.

The changes to orbits wreak havoc, warns Tuija Pulkkinen, chair of the department of climate and space sciences at the University of Michigan. Since the last solar maximum, companies such as SpaceX have launched thousands of satellites into low Earth orbit. Those satellites will now see their orbits unexpectedly changed.

"There's a lot of companies that haven't seen these kind of space weather effects before," she says.

The International Space Station lies within Earth's magnetosphere, so its astronauts should be mostly protected, Steenburgh says.

In a statement, NASA said that astronauts would not take additional measures to protect themselves. "NASA completed a thorough analysis of recent space weather activity and determined it posed no risk to the crew aboard the International Space Station and no additional precautionary measures are needed," the agency said late Friday.

People visit St Mary's lighthouse in Whitley Bay to see the aurora borealis on Friday in Whitley Bay, England. Ian Forsyth/Getty Images hide caption

People visit St Mary's lighthouse in Whitley Bay to see the aurora borealis on Friday in Whitley Bay, England.

While this storm will undoubtedly keep satellite operators and utilities busy over the next few days, individuals don't really need to do much to get ready.

"As far as what the general public should be doing, hopefully they're not having to do anything," Dahl said. "Weather permitting, they may be visible again tonight." He advised that the largest problem could be a brief blackout, so keeping some flashlights and a radio handy might prove helpful.

I took these photos near Ranfurly in Central Otago, New Zealand. Anyone can use them please spread far and wide. :-) https://t.co/NUWpLiqY2S — Dr Andrew Dickson reform/ACC (@AndrewDickson13) May 10, 2024

And don't forget to go outside and look up, adds Steenburgh. This event's aurora is visible much further south than usual.

A faint aurora can be detected by a modern cell phone camera, he adds, so even if you can't see it with your eyes, try taking a photo of the sky.

The aurora "is really the gift from space weather," he says.

• space weather
• solar flares
• solar storm

MicroStrategy, Indian Companies Among Additions to MSCI Indexes

FILE PHOTO: The MSCI logo is seen in this June 20, 2017 illustration photo. REUTERS/Thomas White/Illustration/File Photo

(Reuters) -Index provider MSCI will count U.S. bitcoin investor MicroStrategy among 42 additions to its widely tracked world index while more firms from India join its emerging markets index, following a quarterly review.

They are closely watched as billions of dollars invested in exchange-traded funds track MSCI indexes and they are used as a performance benchmark for fund managers.

In total, there are 42 securities to be added and 121 cut from the all-country world index.

The three largest additions will be U.S. companies: software firm and bitcoin investor MicroStrategy, data storage company Pure Storage and mechanical and electrical construction firm Emcor.

"All represent the direction of new economy development," said Kenny Ng, a strategist at China Everbright Securities International in Hong Kong.

MSCI reviews its indexes to reflect moves in market value of constituents, among other factors. The changes, which will take effect at market close on May 31, usually drive a spike in turnover.

Traders are alert this time for possible disruption as the rebalance falls only a few days after the U.S. shortens its stock-trading settlement cycle from two days to one on May 28.

Elsewhere, India's Canara Bank, Indonesian chemical firm Chandra Asri Pacific and Indian power generator JSW Energy will be the three largest additions to the MSCI emerging markets index.

The three largest additions to the frontier markets index will be Kazakhstan carrier Air Astana, Croatia's electrical-equipment maker Koncar Distributivni I and Romanian telco Digi Communications.

New York-based MSCI said it will add six and delete 70 securities from the China A Onshore Index. The three largest additions will be steel manufacturer CITIC Pacific Special Steel, energy firm CNOOC and forklift manufacturer Hangcha Group.

The company said foreign listings will become eligible for the MSCI Sweden Indexes starting from the November quarterly index review as the market has met the foreign listing materiality requirements.

MSCI will also resume review of Egyptian and Kenyan securities after hearing from market participants that liquidity and foreign exchange access had improved there.

Special treatment for equities listed in Bangladesh in the MSCI indexes will remain due to accessibility issues, MSCI said.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shounak Dasgupta, Shailesh Kuber and Subhranshu Sahu)

Copyright 2024 Thomson Reuters .

Tags: United States , India , Indonesia

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