Overview of the Singapore ICT Market: Key Statistics and Trends:

According to the latest report by MarkNtel Advisors, titled “Singapore ICT Market By Type (Hardware, Software, IT Services, Telecommunication Services), By Size of Enterprise (Small & Medium Enterprises, Large Enterprises), By End-User (IT& Telecom, BFSI, Government, Manufacturing, Energy & Utilities, Retail) and Others, 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 report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.

Singapore ICT Market Growth and Scope:

Base Year: 2024

Forecast Period: 2025-30

Historical Data: 2020-23

CAGR (2025-2030): 16.2%

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Singapore ICT Market Trend:

Growing Use of Blockchain Technology – Various industries in the ICT market have been observed using blockchain technology in their operations with the financial sector as the most prominent one. This is done to enhance the security of the transactions. For instance, Ripple, a blockchain company got a licence to operate in Singapore. It will help banks and financial institutes to make payments in XRP, a cryptocurrency with which Ripple is highly associated. Additionally, other sectors have also been integrating this technology in their operations, such as healthcare, supply chains, real estate, government, etc. Therefore, blockchain technology has gained traction in the Singapore ICT market due to the increasing concerns regarding safe transactions, and this trend is expected to remain in the future as well.

A Comprehensive Analysis of Leading Companies of Singapore ICT Market by MarkNtel Advisors:

  • Amazon
  • IBM
  • Cognizant Technology Solutions
  • SAP SE
  • Wipro
  • Google
  • Intel
  • Razer
  • Grab
  • Garena
  • Others

Key Singapore ICT Market Segmentation:

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-By Type

  • Hardware
  • Software
  • IT Services
  • Telecommunication Services

Based on the type of Information & Communication Technology (ICT), IT services lead the market with a share of around 48%.

-By End-User

  • IT & Telecom
  • BFSI
  • Government
  • Manufacturing
  • Energy & Utilities
  • Retail
  • Others

Based on the end-user industry, the BFSI segment dominates the market with a market share of around 36%.

-By Size of Enterprise

  • Small & Medium Enterprises- Market Size & Forecast 2020-2030, USD Billion
  • Large Enterprises- Market Size & Forecast 2020-2030, USD Billion

Key Reports Highlights:

  • Market Dimensions & Projections
  • Pricing Evaluation,
  • Recent Strategic Moves by Companies,
  • Primary Stakeholders,
  • Analysis of Import and Export Trends,
  • Competitive Landscape Assessment,
  • Emerging Opportunities,
  • Market Trends and Indicators

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Key Advantages of the Report by MarkNtel Advisors:

  • Accurate Revenue Projections: The report provides precise revenue estimates for the market and its key sub segments, benefiting both market leaders and new entrants.
  • Strategic Insights for Stakeholders: By understanding the competitive landscape, stakeholders can strategically position their businesses and develop effective go-to-market strategies.
  • Comprehensive Market Dynamics Analysis: The report offers valuable insights into the key drivers, restraints, challenges, and opportunities within the market, helping stakeholders make well-informed decisions.

Note: If you need additional information not included in the report, we can customize it to suit your requirements.

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 16.20+ 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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