Confident about Singapore’s technology innovation prospects, tech leaders in the nation rate cloud and mobility as the most disruptive technologies in consumer and business markets over the next three years.
The soon to be released KPMG 2013 Global Technology Innovation Survey indicates that a third of Singapore tech leaders see cloud software as a service and platform as a service as the most important technologies in enabling the next indispensable consumer technology.
Singapore respondents said these innovations will provide consumers with more valuable social networking and collaboration experience but consumer adoption is directly related to pricing of the solutions.
Tech leaders in Singapore also expect cloud platform as a service and mobile communications to drive business transformation.
Nine percent of respondents in Singapore said social networking platforms are important to drive business transformation.
Measuring return on investment
Measuring return on investment is the biggest hurdle to adoption of cloud and mobile technologies even though Singapore tech leaders said businesses will benefit from improved business efficiencies, higher productivity and cost reductions.
Worldwide China was ranked second in disruptive breakthrough technologies and 37 percent of technology executives surveyed worldwide said the nation displayed the most potential for disruptive breakthroughs.
Ten percent of technology executives selected India placing it at the third position. Only three percent of global respondents see Singapore as a country for disruptive technology-breakthroughs.
KPMG expects China to continue innovating at an impressive speed, and said domestic consumption will drive most innovation.
“While Singapore does not immediately come to mind when it comes to disruptive technology breakthroughs, the nation has been strongly supportive of innovations. In the last decade, Singapore has transitioned from just being an attractive business hub to one that is also focused on high-value industries such as biotechnology,” said Juvanus Tjandra, partner, Management Consulting, KPMG in Singapore. “It is also a force to be reckoned with when it comes to research and development, with big names such as HP Labs and Gemalto setting up research sites here.”
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