Cloud Computing Market in Singapore

Introduction of the Singapore Cloud Computing Market Report

Cloud computing is the on-demand availability of computer system resources such as computing power and data storage. Cloud computing helps in reducing the expenses regarding the purchasing of hardware and software and setting up of the on-site data centers. The Singapore cloud computing market covers a wide range of industry verticals including BFSI, manufacturing, media and entertainment, healthcare and life science, government and public sector.

Major Singapore Cloud Computing Market Drivers

One of the major factors that is contributing to the growth of the Singapore cloud computing market includes the increasing implementation of cloud computing solutions in different sectors such as BFSI, media & entertainment, and others. In addition to this, rapid digitalization is propelling the market growth in the country. In order to revive from the COVID-19, the country is investing in innovation and technology. The Ministry of Communications and Information is powering the country’s innovation efforts through investments in the infrastructure. The ministry is increasing its communication infrastructure by the development of 5G network, thus providing a necessary foundation for the development of innovative solutions and their implementation in companies. In 2021, StarHub, one of the carriers in the country, deployed a 5G network. Thus, this will open new avenues for the growth of the market.

 The government of Singapore has introduced the Smart Nation project, which aims to drive the adoption of digital and smart technologies in the country. This will have a positive impact on the market growth. Furthermore, the increasing volume of data generated through smart devices which include tablets and smartphones is further responsible for the market growth. The government released its budget in 2020 with an aim to invest USD 719 million over the next three years to improve the government’s cyber and data security capabilities. It has become necessary for the government to opt for technologies which include AI, cloud, and the Internet of Things (IoT). Apart from this, the government invested USD 1.73 billion in the country’s smart nation efforts and digital transformation. Thus, the rising investments in sectors is supporting the market growth in the coming years.

Restraints in the Singapore Cloud Computing Market

One of the major factors that is hindering the market growth is the increasing number of cyberattacks in the country.

The continuous expansion of the hyper scale cloud providers is increasing the investments in the expansion by the leading operators. Various enterprises such as Alibaba, Google, and AWS, are focusing on their cloud service businesses in the country, thus surging the demand for storage and managed to host. In 2018, Amazon Web Services (AWS) announced to expand their Singapore cloud location by opening the third availability zone (AZ). The company’s availability zones are independent clusters of cloud infrastructure deployed in data centers and with fiber connectivity to serve in the mutually supporting roles. In addition to this, in 2018, Google LLC announced to launch its new data center in the country. This will be the company’s third center in Singapore and will cater to the rapid growth in the demand of the users in the country.

Top Market Players

Some of the leading players operating in the market include IBM, Microsoft Corporation, SAP SE, Oracle, Salesforce.com, Inc., Amazon Web Services, Inc., Google LLC, Alibaba Cloud, VMware, Inc., Fujitsu, among others.

Key Developments:

• • In 2019, VMware, Inc., entered an agreement with Amazon Web Services (AWS), to capitalise with its enterprise-class software-defined data centers on the AWS Cloud in Singapore.
  • In 2016, Alibaba Cloud planned to expand its Singapore Data center by the development of second availability zone. The company planned to achieve two certifications overseas – Singapore Multi-Tier Cloud Security (MTCS) standard level 3 and the Payment Card Industry Data Security Standard (PCI-DSS).

Key questions answered in this research report:

• • At what pace is Singapore cloud computing market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Singapore cloud computing market? What will be the impact of drivers and restraints in the future?
  • What are the various areas of Singapore cloud computing market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Segments covered in the Report:

The Singapore Cloud Computing market is segmented into service model, deployment model, organization size and industry vertical. Based on the service model, the market has been segmented into Infrastructure as a Service, Platform as a Service, Software as a Service. Based on the deployment model, the market has been segmented into Public Cloud, Private Cloud and Hybrid Cloud. Based on the organization size, the market has been segmented into Small and Medium Enterprises and Large Enterprises. Based on industry vertical, the market has been segmented into Manufacturing, Healthcare and Life Sciences, IT & Telecom, Retail and Consumer Goods, Energy and Utilities, Media and Entertainment, BFSI, Government and Public Sector.

Report Coverage	Details
Market Revenues (2023)	USD Million
Market Base Year	2023
Market Forecast Period	2024-2031
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Service Model, By Deployment Model, By Organisation Size, By Industry Vertical
Regional Coverage	Singapore
Companies Profiled	Amazon Web Services, Microsoft Azure, Google Compute, Alibaba Cloud, Huawei Cloud, IBM, , SAP SE, Oracle, Salesforce.com VMware, Fujitsu, among others; a total of 12 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

 Market Segmentation:

Singapore Cloud Computing Market by Service Model

• • Infrastructure as a Service
  • Platform as a Service
  • Software as a Service

Singapore Cloud Computing Market by Deployment Model

• • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Singapore Cloud Computing Market by Organisation Size

• • Small and Medium-Sized Enterprises
  • Large Enterprises

Singapore Cloud Computing Market by Industry Vertical

• • Banking, Financial Services and Insurance
  • IT and Telecommunications
  • Government and Public Sector
  • Retail and Consumer Goods
  • Manufacturing
  • Energy and Utilities
  • Media and Entertainment
  • Healthcare and Life Sciences
  • Others

Singapore Cloud Computing Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Amazon Web Services
  • Microsoft Azure
  • Google Compute
  • Alibaba Cloud
  • Huawei Cloud
  • IBM
  • SAP SE
  • Oracle
  • Salesforce.com
  • VMware
  • Fujitsu
  • Others