Singapore - Computer Hardware, Software and PeripheralsSingapore - Computer Components
Overview
|
|
2016 |
2017 |
2018 |
2019 (estimated) |
|---|---|---|---|---|
|
Total Market Size |
2,826 |
3,848 |
4,524 |
4,100 |
|
Local Production |
8,464 |
7,914 |
7,268 |
6,000 |
|
Exports |
15,898 |
15,978 |
15,267 |
14,500 |
|
Imports |
10,259 |
11,912 |
12,523 |
12,600 |
|
Exchange rate: 1USD |
1.38 |
1.38 |
1.35 |
1.35 |
$US millions (total market size = (total local production + imports) - exports)
Data Sources: Singapore Government Trade Statistics
Encompassing only 278 square miles, Singapore is the most wired country in the world, connected nation-wide by a network of high-speed fiber optics and extensive wireless links. The City State strives to be a Smart Nation and is regarded as a leader and model for smart cities in the world.
The Singapore government views ICT investments as a source of economic and social development. The Smart Nation project resides in the Prime Minister’s office. The goal is to harness innovative technologies and solutions to make the city-state more energy efficient, clean and green while addressing citizen engagement and governance and needs in healthcare, transportation and housing. Singapore’s Smart Nation journey began in 2014 and initiatives underway range from self-driving vehicles to smart water meters.
In addition to being the region's trading crossroads, Singapore is universally regarded as the #1 Tech hub in the Indo-Pacific, a key reason that 4,500 U.S. companies are in Singapore. It has built a world class, globally competitive Tech industry and continues to explore new frontiers in innovation such as Cloud Computing, Artificial Intelligence, Data Analytics and other technologies that span healthcare, security, energy, aviation, defense, smart cities and education. To promote this Tech-focused vision, Singapore actively markets itself as a sandbox for new product testing and development, often with financing.
Leading Sub-Sectors
Best prospects include government projects, cyber security, data analytics, cloud computing, internet of things, artificial intelligence, industrial automation, 5G and smart solutions in mobility, healthcare, education, energy, fintech, aviation, and defense.
According to the latest available 2016 Top Markets Report Health IT Country Case Study by USDOC ITA. Singapore continues to be a solid Health IT market, particularly among Asian countries. The Ministry of Health (MOH) is expected to increase its procurement of IT services and technologies over the next few years. The Integrated Health Information Systems (IHiS), the technology arm for MOH is investing in healthcare systems, mobile applications, NEHR, and smart CMS.
Singapore is expected to have a sharp increase in its over-60 population over the next 15 years. Besides high expected growth in the over-60 population, Singapore’s compact geography, highly urbanized society, high per-capita income and widespread use of mobile phones and Internet are other factors that support strong Health IT usage. More information can be found here.
According to the latest available 2016 Top Markets Report Financial Technology Country Case Study by USDOC ITA, Singapore was ranked 20th overall for Fintech market and 31st market for Payments exports. More information can be found here.
Opportunities
Singapore is an advanced and high-value enterprise market where software and services spending are expected to drive continued growth in total IT spending over the medium term. Singapore also benefits from its regional hub status. BMI forecasts 2019 sales of computer hardware in Singapore to amount to US$1.9 billion, software to reach US$7.3 billion and IT services at US$20.6 billion.
The Singapore government spends over US$1.0 billion on ICT tenders annually. U.S. companies interested in participating in these tenders should contact the Singapore Government CIO, GovTech Singapore and IHIS. In addition, they should register with GeBIZ, the Singapore government's one-stop e-procurement portal where public sector invitations for quotations and tenders are posted. Both local and foreign suppliers can search for government procurement opportunities, download tender documents, and submit their bids online.
The Singapore government has a Digital Government Blueprint that spells out its ambition to better leverage data and harness new technologies to drive its efforts to build a digital economy and digital society, in support of its Smart Nation vision. The Blueprint can be found here. It seeks to partner with ICT companies to develop innovative services and solutions to achieve the vision.
In Southeast Asia, a regional opportunity has emerged for U.S. vendors and smart solutions providers to participate in the ASEAN Smart Cities Network (ASCN) program that the ASEAN countries have adopted during the East Asia Summit held in Singapore in November 2018. ASEAN is made up of 10 countries and the ASCN is a collaborative platform where currently 26 cities across ASEAN work towards the common goal of smart and sustainable urban development. More information on the 26 projects can be found here.
Web Resources
Trade Shows
RSA Conference
July 16-18, 2019
SICW
October 1-3, 2019
Cloud Expo Asia
October 9-10, 2019
Singapore Fintech Festival
November 11-15, 2019
IOT Show Asia 2020
March 25-26, 2020
ConnecTechAsia
Incorporating: CommunicAsia, NXTAsia & BroadcastAsia
June 16-18, 2020
Key websites
GovTech Singapore
Smart Nation
Infocomm Media Development Authority
Cyber Security Agency of Singapore
SGTech
U.S Export Market Intelligence
U.S. Commercial Service, Singapore Contact
Ms. CHIA Swee Hoon, Senior Commercial Specialist
Email: SweeHoon.Chia@trade.gov