Boston, MA -- (ReleaseWire) -- 07/17/2014 -- Singapore's IT market growth over the next three years is expected to be driven by the growth of data centre investment. Growth from the sales of PC and devices will slow as high device penetration in the city state means little prospect for first time sales. Considering the government active push to promote Singapore as a destination for cloud, big data and analytics services, Singapore should be a strong contender in the data centre space against peers such as Australia, Taiwan, South Korea and Hong Kong.
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.
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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...
The Singapore Information Technology Report features Business Monitor International (BMI)'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 to test other views - a key input for successful budgetary and strategic business planning in the Singaporean IT market.
- Target business opportunities and risks in Singapore's IT sector through our reviews of latest industry trends, regulatory changes, and major deals, projects and investments in Singapore.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering IT, regulatory changes, major investments and projects and significant national and multinational company developments.
Cross-border analysis of regional markets, commenting on IT penetration (PC and internet) and market growth drivers (IT market size and IT market compound growth).
Country Market Overview
Structure, size and value of the industry sectors including hardware, software and services; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments and government authority.
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
IT Sector: IT industry value (US$bn); IT sector contribution to GDP (%); value of hardware, software and services industry (US$mn); PC, peripherals and software imports and exports (US$mn); PC, peripherals and software sales (US$mn); number of PCs (`000); PCs/100 inhabitants; internet users (`000); internet users per 100 inhabitants; broadband subscribers (`000); broadband subscribers per 100 inhabitants.
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