Malaysia is on track to become a smart nation by 2020, according to Malaysian Communications and Multimedia Commission's (MCMC) head of division for market regulation, Laila Hassan.
Laila made the forecast following the release of the Industry Performance Report 2014, which suggests the Malaysian people are increasingly adopting a digital lifestyle.
Last year saw the country's mobile phone penetration rate exceed 148.5%, while household broadband penetration climbed to 70.2%.
Laila also noted that 4G LTE service population coverage had reached 27.8% - comfortably more than the target of 20% that the country had set itself for 2014.
"Connectivity has expanded pervasively in terms of fixed, mobile, and online, including digital broadcasting," she is quoted as saying on Malaysia news website Astro AWANI.
"We need to make sure that our networks can cope with the trend of delivering content and fulfilling e-transactions."
She also highlighted a "paradigm shift" in viewing trends from traditional television to online and social networking platforms, with growth of data services in between 25 and 40%.
Her point is supported by the increasing popularity of mobile video, which is expected to grow by around 45% annually through to 2020, thus driving broadband network capacity.
Laila wrapped-up by pointing out that the communications and multimedia (C&M) industry performance was stable with overall revenue growth of 3% in 2014 to RM58.91 billion, contributing to 12.6% of the Bursa Malaysia market capitalisation of RM1,651.17 billion.
The telecommunications and broadcasting sectors contributed 78% and 10.5% respectively to the total C&M industry revenue, she added.