DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/7bd1a1/singapore_informat) has announced the addition of the "Singapore Information Technology Report Q3 2011" report to their offering.
Singapore's IT market is projected to record single-digit growth in 2011, benefiting from economic growth that will consolidate a bounce back in IT spending from 2010. BMI expects the total size of the domestic IT market to increase to nearly US$7.9bn in 2015, with drivers including a new government ICT master plan, and cloud computing deployments fuelled by Singapore's Next Generation Nationwide Broadband Network rollout.
In 2011, strong economic growth is expected to sustain IT spending. PC sales stagnated in annualised terms in the first quarter of 2011 due to price-cutting, but BMI expects the market to pick-up later in the year as vendors release new models. While the sustainability of the global economic recovery is less certain over the next two years, we are upbeat about Singapore's economy over the longer term. With the Intelligent Nation 2015 (iN2015) plan placing IT at the heart of the government's strategy to improve competitiveness, complex government tenders will drive considerable spending in years to come in areas such as education, e-government, transport and healthcare.
Healthcare IT is a major focus for IT vendors in the Singaporean market. Singapore's Ministry of Health is overseeing the creation of a National Health Electronic Register (NHER), which aims to have all healthcare institutions, public and private, linked to the same information system. The NHER is a key component of the government's healthcare plan. An initial launch for the new system was expected in April 2011, after the first phase of the project was launched in November 2010.
Key Issues for Investors
- Further government-enforced reductions in labour costs and mandatory corporate contributions to pensions.
- Cuts to corporate and income taxes if the government sticks to its budgetary commitment to lower business costs.
- Competitiveness is at risk of being eroded by cheap labour in China.
Singapore Information Technology Report provides industry professionals and strategists, corporate analysts, information technology associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Singapore's information technology industry.
Companies Mentioned:
- IBM Singapore
- Hewlett Packard Singapore
- Chartered Semiconductors
- Singapore Computer Systems
For more information visit http://www.researchandmarkets.com/research/7bd1a1/singapore_informat.