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Follow on Google News | Market Report, "Singapore Information Technology Report Q2 2011", publishedRecently published research from Business Monitor International, "Singapore Information Technology Report Q2 2011", is now available at Fast Market Research
Singapore's IT market is projected to record single-digit growth in 2011, benefiting from economic growth that will consolidate a bounce back in IT spending from 2010. BMI expects the total size of the domestic IT market to increase to nearly US$7.9bn in 2015, strong PC market growth, a new government ICT master plan, and cloud computing deployments fuelled by Singapore's Next Generation Nationwide Broadband Network rollout. In 2011, a strong economic recovery is expected to sustain IT spending. PC sales grew strongly in the first half of 2010, with a surge prior to the end of many companies' financial years in March that continued into the second quarter. While the sustainability of the global economic recovery is less certain over the next two years, we are upbeat about Singapore's economy over the longer term. ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ The IT market benefited from the announcement of SGD1.1bn in new infocomm tenders in 2010, as well as ongoing initiatives such as the government's Standard ICT Operating Environment (SOE) project. With the Intelligent Nation 2015 (iN2015) plan placing IT at the heart of the government's strategy to improve competitiveness, complex government tenders will drive considerable spending in years to come in areas such as education, e-government, transport and healthcare. Industry Developments In June 2010, the Singaporean government launched a eGovernment Masterplan, which had an emphasis on participation, through utilisation of social networking tools, and greater sharing of data. The greater use of data analytics is likely to be one aspect of this programme. The government also plans to design a new ICT infrastructure for government, which uses cloud computing and energy-efficient technologies. In May 2010, the Singapore government announced that it planned to invest a further SGD1.1bn in new infocomm tenders in 2010. This figure did not include the substantial sums already committed to major ongoing projects such as the Next Generation National Broadband Network and the SOE projects. The 2010 budget was in line with actual spending levels in 2009, when government procurements were about SGD1.12bn, although planned spending was higher. Company News Cloud computing is on the rise in Singapore, boosted by the city-state's excellent telecoms infrastructure. In 2011, SingTel is expected to roll out a wider range of cloud computing products aimed at small and medium-sized enterprises (SMEs), including solutions for human resources and logistics management. SingTel has partnered the government IT agency, the IDA, in an initiative to drive cloud applications development. The projected rapid growth of the cloud computing market in Singapore has fuelled significent investment in data centres. Indian IT services giant Wipro announced in December 2010 that it planned to offer a range of cloud computing services to clients in South-East Asia, using Singapore as a hub. IBM will invest US$38mn in an Asia Pacific Cloud Computing centre in Singapore IBM Singapore is implementing a major contract from SingHealth, the nation's largest public healthcare group, in order to standardise hardware and software platforms across its various institutions. IBM was commissioned to consolidate the varied IT infrastructure into a single platform to create a better flow for patient care delivery. Computer Sales Singaporean spending on IT hardware is projected at around US$2.7bn in 2011 with mid-single-digit growth continuing from 2010. In 2010, another strong PC market performance was reported, with robust consumer spending reinforced by a revival in business IT hardware spending. This started in H110 and was forecast to grow stronger as the year went on. According to data from the IDA, 74% of Singaporean households now have a PC, and, following demand growth of close to 20% over 2001-2005, this level of saturation would be expected to act as a constraint. However, consumers have appeared willing to spend on upgrading their notebook computers, and there is a trend for households to own more than one unit. Given an expected 300% growth in broadband penetration by 2013, the increasing number of products and services available on the internet will be a major driver of demand for computer hardware. Software Spending on software is projected at US$884mn in 2011, up from US$771mn in 2010. Software accounted for about 15% of the domestic IT market in 2010. As the market focal point evolves from hardware to services and solutions, the share of IT spending accounted for by software should rise to nearly 18% by 2015, with enterprises seeking greater leverage from their investments. Over the forecast period, enterprise resource planning (ERP), customer relationship management (CRM) and other e-business applications will find increasing popularity with the SME market as companies look to enhance productivity through the automation of essential functions. Given the focus of many businesses on controlling costs, the pay-on-demand software-as- IT Services In 2011, the IT services sector is forecast to be worth almost US$2.3bn. IT services' compound annual growth rate (CAGR) is expected to be 9% over 2011-2015. One significant demand driver will be organisations looking for help to utilise efficiencies from cloud computing, with evidence that demand for cloud computing was not restricted to large organisations but has spread to the Singaporean SME sector. 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 http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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