2014-02-10 00:14:03 - Singapore Information Technology Report Q1 2014 - a new market research report on companiesandmarkets.com
Singapore´s IT market growth is limited by the maturity of the retail and enterprise market, meaning it will underperform emerging markets in the region. However, we expect it to exhibit relatively robust growth rates over the medium term considering its maturity as a result of its emerging position as a regional centre for emerging technologies. 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. Meanwhile, high incomes and short replacement cycles will ensure the hardware market stays in positive growth territory despite the high penetration of services.
Headline Expenditure Projections:
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. Desktop and notebook sales are being cannibalised by the consumer shift to tablets and hybrids, however the Singaporean preference for premium devices will ensure growth in market value continues.
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