Singapore Enterprise ICT Country Intelligence Report

The Singapore Enterprise ICT Country Intelligence Report, a new Country Intelligence Report by GlobalData, summarizes key findings from GlobalData’s ICT Customer Insight Survey carried out in H1-2026 and GlobalData’s Market Opportunity Forecasts to 2029: Singapore. It reveals an executive-level overview of how the overall ICT budgets and their allocations towards various segments have changed for enterprises in the country in 2026 compared to 2025 and ICT revenue opportunity with detailed forecasts of key indicators up to 2029. The report provides detailed analysis of the overall Singapore’s enterprise ICT market trends and growth drivers based on GlobalData’s ICT Customer Insight Survey and GlobalData’s Market Opportunity Forecasts. The report also discusses about the market growth inhibitors impacting Singapore’s overall ICT market. It sheds focus on enterprise ICT budget allocations and ICT revenue opportunity covering 18 solution areas, segmental analysis, vertical analysis, as well as review of key macroeconomic and regulatory trends, and government initiatives. The report also includes key ICT developments within the country.

The country intelligence provides information and insights into ICT budget allocations and ICT revenue opportunity by enterprises in Singapore
– Overall enterprise ICT revenue opportunity and ICT budget allocations for Singapore
– Macroeconomic and regulatory context and government initiatives
– Insights on Singapore's enterprise ICT growth drivers and market trends, basis GlobalData's ICT Customer Insight Survey and Market Opportunity Forecasts to 2029
– Insights on market growth inhibitors impacting Singapore's overall ICT market
– Breakdown of enterprise ICT revenue opportunity by solution areas, end-use verticals and enterprise size band
– Segmental analysis of Singapore's enterprise ICT budget allocations and ICT revenue opportunity – hardware, software and services
– Insights on ICT technology spending priorities of enterprises on key solution areas in Singapore
– Key ICT developments in Singapore

Scope

The country intelligence report provides an in-depth analysis of the following enterprise ICT market outlook, enterprise ICT budget allocations, enterprise ICT segment revenue and budget allocations, enterprise ICT market dynamics, enterprise technology priorities and key ICT developments in Singapore.

Key Highlights

ICT market growth in Singapore will be primarily driven by government-led programs and public–private partnerships that help firms adopt AI. Initiatives like the Enterprise Compute Initiative and the Digital Enterprise Blueprint provide cloud access, AI tools, computing power, consultancy, and structured roadmaps for SMEs to digitalize and boost productivity.

Singapore’s overall ICT market was pegged at more than $65 billion in 2024 and is expected to grow at a CAGR of more than 15% during 2024-2029 to reach more than $140 billion in 2029.

GlobalData’s ICT decision makers survey reveals a positive outlook for enterprise ICT spending in Singapore, with a majority of respondents, more than 90% from the country, claiming that there has been an increase in the enterprise ICT budget in 2026 compared to 2025.

Cloud computing can be regarded as the most attractive market in Singapore driven by the government’s ongoing commitment for large scale cloud adoption. The revenue opportunity for cloud computing in Singapore was pegged at more than $10.9 billion in 2024 and is estimated to grow at a CAGR of more than 20% between 2024-2029.

BFSI is the largest independent end-use vertical segment for the ICT market in Singapore in terms of revenue contribution in 2024. ICT revenue from the BFSI sector reached more than $8 billion in 2024 and is set to grow more than $20 billion in 2029 at a CAGR of more than 20%.

Reasons to Buy

This Country Intelligence Report is based on GlobalData’s IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises across various industry verticals in Singapore and GlobalData’s Market Opportunity Forecasts to 2029, to offer a thorough, forward-looking analysis of Singapore’s enterprise ICT investment priorities and ICT revenue opportunity market.

Accompanying GlobalData’s IT Customer Insight Survey and Market Opportunity Forecasts to 2029, the report examines the assumptions and drivers behind ongoing and upcoming trends in Singapore’s enterprise ICT market.

The report offers a thorough analysis of enterprise ICT investment trends and how it has changed this year compared to previous year.

The report also presents an analysis of enterprise ICT budget allocations by various spending areas, business functions and product/service categories and how they have changed this year compared to previous years.

The report also presents an analysis of enterprise ICT revenue opportunity by various solution areas, enterprise size band, end-use verticals, and segment over the forecast period 2024-2029.

With more than 50 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.

The report provides insights in a concise format to help executives build proactive and profitable growth strategies.

The report provides an easily digestible market assessment for decision-makers built around research gathered from the local IT decision makers, which enables executives to quickly get up to speed with the current and emerging trends in enterprise ICT investment priorities.