The Singapore ICT Market size is estimated at USD 47.88 billion in 2024, and is expected to reach USD 76.67 billion by 2029, growing at a CAGR of 8.31% during the forecast period (2024-2029).
Singapore is one of the global leaders in technology development and is always one step ahead regarding technological advancement compared to most countries in the world. The population is extremely digitally connected and voracious data consumers.
The Singaporean ICT market is fragmented, with many players operating in the market. Several key players in the ICT market are in constant efforts to bring advancements. A few prominent companies are entering into collaborations and are also expanding their footprints in developing regions to consolidate their positions in the market. The major market players include The International Business Machines Corporation (IBM), SAP SE, Intel Corporation Singapore, Singapore Telecommunications Limited, and StarHub Limited.
In September 2022, M1 launched Zolaz, a subscription-based cloud gaming service enabling users to play on any device, anytime, and from any location. Over 400 top-notch PC and console games, including those from AAA publishers, would be instantly and endlessly available to subscribers.
In June 2022, Micron Technology partnered with Singtel to roll out 5G mmWave applications at its 3D NAND flash memory manufacturing facility in Singapore. As the first company in the city-state to test the use of mmWave in Industry 4.0, it would introduce a number of applications in its cleanroom, ranging from automated visual inspections of individual chips to augmented reality (AR) for operations and maintenance.
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