IT Services in Singapore
IT Services in Singapore industry profile provides top-line qualitative and quantitative summary information including: market size (value 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
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Essential resource for top-line data and analysis covering the Singapore it services market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
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What was the size of the Singapore it services market by value in 2015?
What will be the size of the Singapore it services market in 2020?
What factors are affecting the strength of competition in the Singapore it services market?
How has the market performed over the last five years?
What are the main segments that make up Singapore's it services market?
The IT services industry is valued as the combination of the business process outsourcing (BPO) services market, the application services market, and the infrastructure services market. The BPO services market is valued as the revenues accrued from the provision of client relationship management BPO, finance & accounting BPO, human resource outsourcing, knowledge process outsourcing, procurement BPO, and vertical-specific BPO services. The application services market is valued as the revenues accrued from the provision of application development, integration, management, and testing services. The infrastructure services market is valued as the revenues accrued from the provision of the following service lines: application hosting and data center, colocation, desktop management, security & privacy, and storage. All currency conversions are at constant 2015 annual average exchange rates.
The Singaporean IT services industry had total revenues of $2.9bn in 2015, representing a compound annual growth rate (CAGR) of 12.8% between 2011 and 2015.
The application services segment was the industry's most lucrative in 2015, with total revenues of $1.5bn, equivalent to 49.6% of the industry's overall value.
Cloud computing systems are expected to achieve dynamic growth over the next few years as buyers expand the use of data centers and advanced analytics in order to manage the vast amounts of data being produced in the connected world. The positive impact of this transition on the IT services market could be balanced by a decline in outsourcing & processing services as many more tasks become automated through the use of artificial intelligence-based algorithms.