Growth in adoption of smart devices and
applications, increasing number of connected devices and government initiatives
to drive Singapore IoT market through 2023
According
to TechSci Research report, “Singapore
Internet of Things (IoT) Market By Platform, By Component, By Application, Competition Forecast &
Opportunities, 2013 – 2023’’, IoT market in Singapore
is projected to grow at a CAGR of more than 20% during 2018 - 2023. The
government’s increasing focus on Smart Nation Project, growing demand for smart
home applications and devices, increasing number of technological advancements
coupled with strong demand for big data analytics and cloud services would
propel the country’s Internet of Things market in the coming years.
Additionally, increasing
smartphone user base and internet penetration is boosting the number of
connected devices across the country, thus driving the country’s IoT market.
Browse
27 market data Figures spread through 88 Pages and an in-depth TOC on
"Singapore IoT Market" https://www.techsciresearch.com/report/singapore-internet-of-things-market/3046.html
IBM Singapore Pte. Ltd., Intel
Technology Asia Pte Ltd, Cisco Systems Singapore, and Singapore
Telecommunications Limited are among the major companies operating in Singapore
IoT market. North-East region
accounted for the largest revenue share in 2017 and is anticipated to maintain
its market dominance during the forecast period as well, on the back of
increasing presence of IoT enablers as well as IT and semiconductor hubs in the
region. North-East region is also witnessing huge adoption of emerging
technologies. With growing demand for IoT components in Singapore, their
deployment is also gaining momentum across various applications. Hardware
components dominated the country’s IoT market, owing to declining cost of
sensors and other hardware components required for communication of various
devices within the network.
“Smart manufacturing
refers to the enhancement of productivity and efficiency of manufacturing
operations through IoT devices and applications. It involves integration of
sensors into traditional manufacturing equipment and making the use of latest
manufacturing equipment that comes with pre-installed IoT sensors. Over the
next five years, adoption of these smart manufacturing equipment is expected to
increase across the country, which would boost Singapore IoT market through
2023.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Singapore Internet of Things (IoT) Market By Platform, By Component, By Application,
Competition Forecast & Opportunities, 2013 – 2023’’ has evaluated the future growth potential of Singapore
IoT market and provides statistics and information on market size, structure
and future market growth. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by Singapore IoT market.
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