Report Published: "Singapore Information Technology Report Q4 2015"
New Computer Technology market report from Business Monitor International: "Singapore Information Technology Report Q4 2015"
[USPRwire, Wed Oct 21 2015] We made a minor downgrade to our forecast Singapore's IT market in 2015 in the Q2 2015 update, with the revision a reflection of the weaker economic outlook in terms of economic growth and currency performance. However, w e still expect growth in Singapore will outperform the majority of developed markets in 2015 and over the medium term. Growth from the sales of PC and devices will be sluggish as high device penetration in the city state means there is little prospect for first time sales, but strong demand for premium devices will ensure it remains a lucrative market for vendors. Meanwhile, high incomes, exposure to the APAC growth story and government policy incentivising adoption of emerging technologies among enterprises will support increases in software and services spending over the medium term. Considering the government 's active push to promote Singapore as a destination for cloud, big data and analytics services, Singapore should be a leading destination in the data centre space against peers such as Australia, Taiwan, South Korea and Hong Kong.
Full Report Details at
Headline Expenditure Projections
Computer hardware sales forecast to increase from SGD2.87bn in 2015 to SGD2.91bn in 2019, equating to a compound annual growth rate (CAGR) of 0.5% in local currency terms. The market is lucrative in per capita terms but saturation across all device categories means growth opportunities are severely diminished.
Software sales forecast to increase from SGD1.48bn in 2015 to SGD1.93bn in 2019, representing a CAGR of 6.2% in local currency terms. SaaS adoption of basic enterprise applications by SMEs and demand for complex deployments by large enterprises will be growth areas.
IT Services sales forecast to increase from SGD3.44bn in 2015 to SGD4.56bn in 2019, equating to a CAGR of 6.9% in local currency terms. Deepening of the cloud computing, big data and analytics markets will ensure IT services outperformance over the medium term.
The Singapore Information Technology Report features BMI Research's market assessment and independent forecasts covering personal computers and software; semi-conductors, memory chips, integrated circuits and general components; the internet and IT solutions. It analyses analyses regulatory changes (licensing, customs and intellectual property protection) and competitive landscapes comparing IT companies by products, sales, market share, investments, projects and expansion strategies.
BMI's Singapore Information Technology Report provides industry professionals and strategists, corporate analysts, IT associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the IT industry in Singapore.
* Benchmark BMI's independent IT Industry forecasts for Singapore
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