"Singapore Information Technology Report Q2 2014" is now available at Fast Market Research
Fast Market Research recommends "Singapore Information Technology Report Q2 2014" from Business Monitor International, now available
[USPRwire, Tue Apr 29 2014] * Singapore's IT market growth will underperform APAC emerging markets over the medium term as high penetration of devices and solutions means little low-hanging fruit for vendors. However, we expect it to exhibit relatively robust growth rates over the medium term considering its maturity. Singapore's move to capture a position as a regional centre for emerging technologies will drive growth. The government is promoting Singapore as a destination for companies providing cloud, big data and analytics services via incentives and links with universities. Another important factor is the reach, affordability and quality of telecoms infrastructure and the favourable policy environment.
Headline Expenditure Projections
Computer hardware sales forecast to increase from SGD2.926bn in 2014 to SGD3.333bn in 2018, equating to a compound annual growth rate (CAGR) of 3.5% in local currency terms. Desktop and notebook sales are being cannibalised by the consumer shift to tablets and hybrids, however the Singaporean preference for premium devices and short replacement cycles in the tablet market will ensure growth in market value continues.
Full Report Details at
Software sales forecast to increase from SGD1.291bn in 2014 to SGD1.596bn in 2018, representing a CAGR of 5.2% in local currency terms. Enterprise software penetration is high among large enterprises, but they are increasing investment in complex solutions, while small- and-medium enterprise spending will be a driver of spending growth.
IT Services sales forecast to increase from SGD3.381bn in 2014 to SGD4.228bn in 2018, equating to a CAGR of 5.8% in local currency terms. Growing demand for cloud computing, big data and analytics services from telecoms, healthcare, logistics and government will drive growth.
Key Trends And Developments
Singapore continues to attract major investments from data centre operators and cloud computing service providers as it develops into a regional hub. The government has leveraged Singapore's geographic position, legal framework and telecoms infrastructure to attract investment and expertise. Investment continued in early 2014 despite stiff competition from Hong Kong, where the government has similar goals. In January and February 2014, Pacnet and Digital Ocean opened new data centre facilities in Singapore, with both firms stating that regional opportunities were behind the choice of Singapore as a location for data centres.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
You may also be interested in these related reports:
- Kuwait Information Technology Report Q2 2014
- Australia Information Technology Report Q2 2014
- Slovenia Information Technology Report Q2 2014
- Colombia Information Technology Report Q2 2014
- Romania Information Technology Report Q2 2014