IT consists of providing IT service, products, software, and solutions to an organization to integrate and streamline its various processes. IT enables a smooth flow of information across an organization. It helps an organization to align its business processes with various technologies. IT is mainly required to develop a secure environment, maintain a uniform flow of information, and build an economical, long-term cost structure. Economic optimism is prompting organizations in Singapore to invest in IT to further develop the IT infrastructure in the country. Government initiatives in the country is also gaining traction in IT investments.
Analysts forecast the IT market in Singapore to grow at a CAGR of 4.75 percent over the period 2014-2019.
The IT Market in Singapore is categorized into three segments: Hardware, Software, and Services
IT Market in Singapore 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the IT market landscape in Singapore and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.
The report recognizes the following companies as the key players in the IT Market in Singapore: Google, Hewlett-Packard Co., International Business Machines Corp. and Microsoft Corp.
Other Prominent Vendors in the market are: Accenture, Autodesk, Avaya, BMC Software, Borland, CA, Cisco Systems, Dell, Huawei, McAfee, Oracle, Symantec and Unisys.
The increased adoption of virtualized environment is one of the major trends emerging in the market. The concept of desktop virtualization is on a rise in Singapore with each business opting for desktop virtualization and creating a virtualized IT environment.
According to the report, IT initiatives taken by the government of Singapore are a major driver in the market. The government adopted various projects such as establishment of datacenter parks, and e-government initiatives such as creation of a single portal to access all government websites. This has increased the demand for IT in Singapore.
Further, the report states that issues related to security breaches are a major challenge in the market. Advances in technology have raised the prevalence of sharing of confidential data. At times, hackers intrude the privacy of users and use this data for illegal purposes.
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