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Singapore Information Technology Report Q2 2009.

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M2 PRESSWIRE-23 June 2009-Companies and Markets: Singapore Information Technology Report Q2 2009(C)1994-2009 M2 COMMUNICATIONS

RDATE:23062009

Singapore Information Technology Report Q2 2009 : New Company and Market Analysis

Market Overview Singapore's IT market is projected to continue to provide opportunities, despite the difficult economic climate. The total size of the domestic IT market is expected to increase from US$4.8bn in 2008 to around US$6.9bn in 2013, and government ICT spending helps to compensate for deferred consumer and enterprise IT spending. In March 2009 the government unveiled a US$20bn stimulus package with opportunities for IT vendors likely to result in several areas.

There were some indications of declining consumer PC and channel sentiment and spending in H208, but the IT market remained in positive territory for the year as a whole. Going forward, IT spending in export-dependent Singapore will remain vulnerable to a prolonged downturn in the global economy.

Growth should ease further in 2009 with some businesses delaying new IT projects, and consumers holding back on spending, despite lower prices.

There are a number of factors which will work to moderate a slowdown. Government ICT programmes in areas such as e-government, healthcare, education and transport are already budgeted. The economic crisis will cause some companies,...

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