Singapore Information Technology Report Q1 2016
- ID: 3606491
- January 2016
- Region: Singapore
- 66 pages
- Business Monitor International
After a contraction of the hardware segment dragged down the IT market growth rate in 2015 we forecast slightly stronger performance over the medium term, with a CAGR of 4.3% forecast for 2015-2019 to a total market value of SGD9.1bn in 2019. Stabilisation of the tablet market after the boom and decline associated with the concentration of first-time buyers over 2011-2013 will support the hardware segment, but it will still underperform the software and services segments. Singapore is a leading market for the adoption of cloud services, as well as being a regional hub, and we expect strong growth to continue over 2016-2019 as vendors capitalise on the lucrative enterprise base in Singapore's economy with large financial services, ICT and manufacturing verticals. Emerging technologies around the Internet of Things will benefit similarly, as well as being boosted by the supportive policy environment that is positioning Singapore as a regional leader.
Computer Hardware Sales: Forecast to increase from SGD2.7bn in 2016 to SGD2.9bn in 2019. After the tablet market boom and subsequent decline resulted in hardware segment volatility we expect a more stable medium-term growth trend.
Software Sales: Forecast to increase from SGD1.6bn in 2016 to SGD1.8bn in 2019. Software-as-aservice adoption of basic enterprise applications by small- and medium-sized enterprises will be target of vendors, while high value make-up of Singapore's economy will drive complex deployments from large enterprises.
IT Services Sales: Forecast to increase from SGD3.7bn in 2016 to SGD4.4bn in 2019, equating to a CAGR of 6.1%. Deepening of the cloud computing and development of Internet of Things ecosystem will underpin IT services out performance over the medium term.
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