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Now Available: Singapore Information Technology Report Q1 2014

New Computer Technology market report from Business Monitor International: "Singapore Information Technology Report Q1 2014"


Boston, MA -- (SBWIRE) -- 01/09/2014 -- Singapore's IT market growth is limited by the maturity of the retail and enterprise market, meaning it will underperform emerging markets in the region. However, we expect it to exhibit relatively robust growth rates over the medium term considering its maturity as a result of its emerging position as a regional centre for emerging technologies. The government is promoting Singapore as a destination for companies providing cloud, big data and analytics services via incentives and links with universities.

Another important factor is the reach, affordability and quality of telecoms infrastructure and the favourable policy environment. Meanwhile, high incomes and short replacement cycles will ensure the hardware market stays in positive growth territory despite the high penetration of services.

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Headline Expenditure Projections

Computer hardware sales forecast to increase from SGD3.784bn in 2013 to SGD4.453bn in 2017, equating to a compound annual growth rate (CAGR) of 4.2% 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 will ensure growth in market value continues. Software sales forecast to increase from SGD1.196bn in 2013 to SGD1.478bn in 2017, representing a CAGR of 5.3% 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 SGD3.473bn in 2013 to SGD4.43bn in 2017, equating to a CAGR of 6.3% in local currency terms. There will be opportunities in key IT spending verticals such as telecoms, government, healthcare and logistics - as well as through growth of cloud computing, big data and analytics services.

Key Trends & Developments

Singapore is a mature hardware market where there is not only high penetration of desktops and notebooks, but also of tablets. Research from Ericsson ConsumerLab found that tablet penetration among daily internet users reached 42% in 2013, the third highest globally. This limits opportunities for growth for vendors, but we believe the market will continue to expand as a new range of hybrids/convertibles that introduce greater functionality to the tablet form factor will boost sales in the short-to-medium term. There is however downside risk if hybrid designs fail to gain traction and consumers instead opt for low priced Android tablets.

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