"Singapore Information Technology Report Q1 2015" now available at Fast Market Research
Fast Market Research recommends "Singapore Information Technology Report Q1 2015" from Business Monitor International, now available
[USPRwire, Thu Jan 15 2015] Despite a downgrade to the growth outlook for Singapore's IT market in the Q115 update to reflect diminished opportunities in the hardware segment, we still expect growth in Singapore will outperform the majority of developed markets. Growth from the sales of PC and devices will be sluggish as high device penetration in the city state means little prospect for first time sales , but strong demand for premium devices will ensure it remains a lucrative market for vendors. Meanwhile, high incomes , exposure to the APAC growth story and government policy incentivising adoption of emerging technologies among enterprises will support increases in software and services spending over the medium term . Considering the government 's 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.
Computer hardware sales forecast to increase from SGD2.95bn in 2015 to SGD2.97bn in 2018, equating to a compound annual growth rate (CAGR) of 0.4% in local currency terms. Saturation of tablet market means growth opportunities are severely diminished, but the market will remain lucrative for vendors in per capita spending terms.
Software sales forecast to increase from SGD1.54bn in 2015 to SGD1.87bn in 2018, representing a CAGR of 6.9% in local currency terms. Small- and medium-sized enterprise (SME) demand for basic enterprise software (particularly SaaS) complex deployments by large enterprises and investments in security software will all be growth areas.
IT Services sales forecast to increase from SGD3.49bn in 2015 to SGD4.31bn in 2018, equating to a CAGR of 7.4% in local currency terms. Growing demand for cloud computing, big data and analytics services from telecoms, healthcare, logistics and government will support IT services outperformance.
Key...
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.
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