Enterprise spending on IT products and services in Singapore will reach US$19.1 billion in 2015, according to a new report by Gartner.
Communications, media and services, banking and securities, government and manufacturing will be the dominant sectors in 2015.
These sectors will together account for 70 percent of total enterprise IT spending in Singapore this year.
Banking and securities, utilities and manufacturing, and natural resources are the fastest-growing industry segments through 2018.
"Along with the Nordic region, Singapore routinely tops the lists of countries with innovative IT initiatives, efficient business practices, good levels of equality and other factors," said Gartner research director Derry Finkeldey. "The government has transferred several of its services online and it has an open data initiative similar to the U.S. government, with nearly 9,000 datasets available in open format."
Southeast Asia spend
Singapore, Malaysia, Indonesia and Thailand spend the most on IT in Southeast Asia and account for about 80 percent of IT spend in the region.
Indonesia, Malaysia, Singapore and Thailand will together spend US$52 billion on IT in 2015, with annual growth of six percent.
Spending by enterprises in Malaysia is projected to be US$12.6 billion in 2015 at an annual growth rate of 6.4 percent.
The healthcare sector in Malaysia will spend US $292 million in 2015, with annual growth of 9.4 percent.
"Some might argue that given recent political, financial and climate challenges, Southeast Asia is a risky proposition," said Venecia Liu, research vice president at Gartner. "However, Gartner believes that Southeast Asia's economic development and growing consumer demand mean that its growth potential outweighs the risk. The growth of mobility and social media and the high percentage of younger people make this region suited to technology providers."
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