The Infocomm Technology (ICT) Industry in Singapore is reshaping the economy, empowering every sector and contributing to Singapore's economic and social growth. ICT has also greatly enhanced Singapore's competitiveness by raising productivity and transforming business processes in the education, healthcare, manufacturing, tourism and hospitality and finance sectors. Singapore is poised to be an information and technology hub which continues to attract multinational infocomm giants like Microsoft, Oracle, Amazon Web Services, Salesforce.com, Google, IBM, in addition to international start-ups and exciting user organizations.
Singapore's infocomm industry posted its strongest growth in five years to reach S$83 billion in 2011, an 18% increase over the revenue of S$70 billion in 2010. Of this, the proportion attributed to exports grew from 66% to 71% or S$59 billion, bringing Singapore within striking distance of its iN2015 (Intelligent Nation 2015) goal to achieve S$60 billion in infocomm export revenue by 2015. The Hardware segment remained the major contributor to the infocomm industry revenue, with a share of 62% of the total revenue. The breakdown of the percentage of revenue from the various subsectors in 2011 include Hardware; 62% , Software; 14%, Telecoms; 10%, IT Services; 11%, Content; Services 3%.
The ICT industry in the country looks set to benefit from S$46 million initiative to boost productivity over the next five years. The initiative will be driven by the Infocomm Development Authority of Singapore (IDA) and the National Productivity and Continuing Education Council.
Also, by early 2012, the mobile penetration had passed 150%, with 3G customers comprising three quarters of the total mobile subscriber base. In maintaining Singapore's status as an ICT market leader, the government launched its plan for a nationwide fibre-based broadband network known as the Next Generation Broadband Network (NGNBN) and this is being rolled out in line with the government's strategy.Country's Government has also launched a national infocomm masterplan - "Intelligent Nation 2015" (iN2015). This include the roll out of a next generation National Broadband Network capable of speeds reaching one gigabyte which will further strengthen Singapore's infrastructure network, translating into benefits for IT companies. The next generation of broadband is largely in place.
The infocomm industry expects to plays an imperative role in enhancing competitiveness and productivity of the country. The government has also encouraged companies to develop solutions in emerging technologies and services, such as cloud computing. There are schemes that help companies develop innovative new products or to enhance their intellectual property.
(Source: Insight Alpha)