2013-11-02 15:59:35 - New Computer Technology research report from Business Monitor International is now available from Fast Market Research
While Singapore has a well-developed IT market with high penetration of products and services, we expect it to exhibit relatively robust growth rates over the medium term. We forecast the IT market to reach a value of SGD8.453bn in 2013, and expand at a compound annual growth rate of 5.2% over 2013-2017. As in most developed markets globally, the retail hardware market in Singapore will be driven by tablet and hybrid/convertible sales over the medium term. However, it is in emerging technologies that Singapore will stand out as the government positions the country to become a hub in the rapidly growing Asia Pacific region for cloud, big data and analytics services. These will benefit from the reach, affordability and quality
of telecoms infrastructure and the favourable policy environment.
Headline Expenditure Projections
Computer hardware sales forecast to increase from SGD3.784bn in 2013 to SGD4.453bn in 2017, equating to a compound annual growth rate (CAGR) of 4.2% in local currency terms. Growth drivers include sales of tablets, hybrids and ultrabooks, as well as sales of servers as Singapore continues to develop into a regional data centre hub. There is, however, downside risk from the price pressure exerted by the increasing range of available low-cost Android tablets.
Full Report Details at
- www.fastmr.com/prod/698110_singapore_information_technology_repo ..
Software sales forecast to increase from SGD1.196bn in 2013 to SGD1.478bn in 2017, representing a CAGR of 5.3% in local currency terms. We expect security software to become a larger part of the market over the medium term, while for enterprise software as a whole we expect small-and-medium enterprise spending to become increasingly important.
IT Services sales forecast to increase from SGD3.473bn in 2013 to SGD4.43bn in 2017, equating to a CAGR of 6.3% in local currency terms. There will be opportunities in key IT spending verticals such as telecoms, government, healthcare and logistics - as well as through growth of cloud computing, big data and analytics services.
Key Trends & Developments
The government in Singapore is actively positioning the country as a hub for emerging IT technologies in the Asia Pacific region. In recent years it has been working to promote the city as a regional data centre hub, competing directly with Hong Kong, and has achieved significant success in doing so. In 2013, the Infocomm Development Authority of Singapore (IDA) has stepped up its efforts in promoting Singapore as a big data and analytics hub. In August the IDA partnered with Revolution Analytics, a commercial provider of software, services and support for the open-source 'R' project, to form a business analytics centre of excellence. The centre will operate as a channel through which local companies can reach the expertise of global organisations to develop new solutions.
According to surveys in 2013, there is strong demand for emerging technologies such as cloud computing and big data in Singapore and the wider region. This underlines the potential for Singapore to leverage its geographic position, legal framework and telecoms infrastructure to become a regional hub. However, these same surveys also point to barriers to growth - most importantly cyber security. In order to counter this threat, Singapore launched a five-year National Cyber Security Masterplan in July, developed as a multiagency effort led by the IDA, along with the National Infocomm Security Committee. The plan provides a strategic direction to help the government and organisations to combat cyber threats via collaboration across the public and private sectors, and ease concerns that are proving a barrier to adoption of emerging technologies and preventing Singapore from benefiting as a regional hub.
Report Table of Contents:
BMI Industry View
- Business Environment
- Table: Singapore IT Industry - Historical Data And Forecasts (SGDmn)
- Table: Broadband - Historical Data And Forecasts
- Post Global Crisis Rebound Proof Of Structural Resilience
- Economy Facing Unique Risk Of Worsening Labour Crunch
- Consequences: A Mixed Bag
- Cost Competitiveness At Risk
- Expenditure Breakdown
Industry Risk Reward Ratings
- Asia Risk/Reward Ratings
- Table: Asia Pacific IT Risk/Reward Ratings, Q413
Industry Trends And Developments
- Table: Government Authority
- Table: Contract Wins
- Table: Acquisitions
- Global Foundries
- Table: Manufacturing Facilities
- Table: GlobalFoundries Key Developments
- Demographic Outlook
- Table: Singapore's Population By Age Group, 1990-2020 ('000)
- Table: Singapore's Population By Age Group, 1990-2020 (% of total)
- Table: Singapore's Key Population Ratios, 1990-2020
- Table: Singapore's Rural And Urban Population, 1990-2020
- IT Industry Forecasts
- IT Risk/Reward Ratings - Methodology
- Table: IT Business Environment Indicators
- Table: Weighting Of Components
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
About Fast Market Research
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