Singapore ICT Market Report – 2025 Outlook, Trends, Share, Size & Forecast
MarkNtel Advisors has unveiled its latest research report on the Singapore ICT Market, providing an in-depth analysis of market dynamics, growth prospects, and competitive landscape. This report serves as a valuable resource for stakeholders aiming to capitalize on emerging opportunities and navigate potential challenges in the Singapore ICT industry.
Singapore ICT Market Size: 2025 Outlook
The Singapore ICT Market size was valued at around USD 52 billion in 2024 and is projected to reach USD 128 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 16.2% during the forecast period, i.e., 2025-30. The main reason behind this growth is Singapore’s status as the digital capital of Asia. As a result, multiple ICT firms consider Singapore as the best place to establish their working offices as they get high-class infrastructure, a skilled workforce, and a vibrant ecosystem. Around 80 of the top 100 ICT companies in the world are present in Singapore.
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? Scope of the Report
- Forecasts till 2030 with year-wise market breakdown
- Geographical and segment-level analysis
- Company profiles and strategic insights
- Key market drivers and restraints
- Analysis of market trends and investment opportunities
What’s Driving the Market?
Developed ICT Ecosystem with Advanced Companies & Connectivity – The highly developed ICT ecosystem of Singapore plays a major role in attracting multiple international companies. This is because of the availability of various global technology firms such as Google, Amazon, etc., and regional leaders such as Garena, Grab, etc. All these firms can collaborate to co-develop advanced solutions for their customers. For instance, IBM has worked with multiple financial services, logistics, and service industries in Singapore to develop and deliver new solutions.
What’s Holding Back Growth?
High Number of Cyber Crimes in the Singapore Market – The number of cases of cyber breaches in Singapore has increased over the years. For instance, more than 70% of the companies faced cyber-attacks in 2024. The most specific cases are regarding email security, cloud services, network security, and data center security. These cases are high in Singapore because various organizations depend on external vendors and partners to support their operations, and one weak line can expose their data to cyber threats. As a result, various companies face losses due to such crimes, and multiple companies are prevented from setting up their regional offices in Singapore. Therefore, cyber threats present a challenge for the growth of multiple organizations as well as the ICT market, and they will restrain the growth of the market in the future as well because of the expected rise in cyber threats.
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Singapore ICT Market Segmentation
By Type
- Hardware- Market Size & Forecast 2020-2030, USD Billion
- Software- Market Size & Forecast 2020-2030, USD Billion
- IT Services- Market Size & Forecast 2020-2030, USD Billion
- Telecommunication Services- Market Size & Forecast 2020-2030, USD Billion
By Size of Enterprise
- Small & Medium Enterprises- Market Size & Forecast 2020-2030, USD Billion
- Large Enterprises- Market Size & Forecast 2020-2030, USD Billion
By End-User
- IT & Telecom- Market Size & Forecast 2020-2030, USD Billion
- BFSI- Market Size & Forecast 2020-2030, USD Billion
- Government- Market Size & Forecast 2020-2030, USD Billion
- Manufacturing- Market Size & Forecast 2020-2030, USD Billion
- Energy & Utilities- Market Size & Forecast 2020-2030, USD Billion
- Retail- Market Size & Forecast 2020-2030, USD Billion
- Others (Education, Construction, Healthcare, Transportation, etc.)- Market Size & Forecast 2020-2030, USD Billion
? Industry Leaders: Who’s Dominating the Singapore ICT Market?
The market is highly competitive, with players launching innovation-driven products and investing in strategic partnerships. Key participants include:
- Amazon
- IBM
- Cognizant Technology Solutions
- SAP SE
- Wipro
- Intel
- Razer
- Grab
- Garena
These companies are focused on health-based R&D, expansion, and functional ingredient diversification.
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? Frequently Asked Questions (FAQs)
- What are the main drivers of the Singapore ICT market?
- Which segment leads the Singapore ICT industry?
- What regulatory challenges impact product development?
- Who are the top players in the Singapore ICT industry?
About US:
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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