London, 13 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the IT Market in Singapore 2015-2019, which is expected to grow at a CAGR of 4.75 percent during the period of 2014-2019.
The IT market in Singapore is characterized by the high adoption of smartphones and excellent broadband penetration. Several companies are adopting new IT projects in Singapore because of the positive economic environment in the country, which increases the demand for hardware services. New IT projects involve infrastructure set up in the initial stages. Singapore is the hub of the data center, and this is attracting MNCs and enterprises to set up their companies’ headquarters in the country, contributing to the growth of the IT Hardware market in Singapore.
Also, the government of Singapore is continuously developing the country’s infrastructure to give support to various MNCs, as several MNCs’ data centers are located in Singapore.
“Many industries such as Financial, Healthcare, and Logistics are adopting big data for analytical purposes and to store large amounts of consumer data,” says Faisal Ghaus, Vice President of TechNavio.
“Big data would help businesses analyze large amounts of structured and unstructured data, gain unexpected insights from the data, improve productivity and profitability of the firm, and help companies to manage their highly sensitive data.”
Key Market Drivers
- IT Initiatives by Government
- Increased Number of Data Centers
- Growing Number of Internet Users
Key Market Trends
- Increased Adoption of Virtualized Environment
- Increased Adoption of Cloud Computing
- Increased Adoption of Big Data
- Need for Low Maintenance IT System
Key Market Vendors
- Hewlett-Packard Co.
- International Business Machines Corp.
- Microsoft Corp.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
