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Singapore ICT Market Overview : Cloud and Internet of Things (IOT) Driving the ICT Market
Singapore's ICT market is quite mature and growth in most of the sectors has become stagnant. Internet of Things is one of the sectors which is still in the stage of infancy and has the potential to change the landscape of the overall Singapore ICT market. In the cloud and data center market, competition between local and global service providers is increasing. Moreover, there is large-scale data center (DC) build outs by both captive and outsourced data centers and the whole market is going through a phase of rapid data center construction. Singapore, which is considered one of the most connected cities globally, faces a large number of cyber security threats and these are expected to become more intense in the coming years.
-The Singapore information and communications technology (ICT) landscape is changing and it is growing the fastest in APAC. Many Internet of Things (IOT) related initiatives have been introduced in 2015 and the country has also seen a spike in security breaches.
- International companies are going through a phase of rapid data center construction while the digital services landscape is changing at a very fast pace.
- Asia-Pacific is becoming more digital in the global marketplace.
- Ecommerce is expected to show decent growth in the Association of Southeast Asian nations (ASEAN) region, with Malaysia, Indonesia, and Singapore expected to become the biggest markets.
- Cyber security is expected to enter the physical space in the coming years, as the number of connected devices is going to increase exponentially.
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