Indonesia’s technology market is at an inflection point and could grow exponentially to reach between $200 billion and $300 billion in the next two to three years, said John Riady, director of Lippo Group — one of the country’s largest conglomerates.

“Indonesia is the most exciting digital and technology market in Asia and arguably the world,” Riady told CNBC’s “Street Signs Asia” on Thursday.

“When our group first invested in technology in 2012, the size of the entire technology market in Indonesia was approximately $100 million. That same asset class today is about $40 billion,” he added.

Lippo Group is founded by Riady’s grandfather. The conglomerate has businesses in a wide array of sectors including real estate, retail, health care and telecommunications. Riady has been spearheading the group’s venture into tech and is also the CEO of the real estate developer arm, Lippo Karawaci.