Singapore’s reputation as one of the globe’s leading city-states is one of the reasons why the country is called the Lion City. Under its wings, it boasts titles such as “Easiest place to do business” and most “technology-ready” nation, according to the World Bank and the Economist Intelligence Unit, respectively. With this information, you have made the right choice in choosing to invest in one of the world’s most progressive countries, and one area of opportunity to consider that contributes greatly to the nation’s success is its ICT (information and communication technology) market.
What is the country’s status on e-government and e-health?
The government’s focus is mainly on technology development in order to improve the public sector. Therefore, there are various opportunities present in agile software development, government cloud solutions, data and analytics, and infocomm security. Also, the government recently invested heavily on infocomm infrastructure in order to encourage healthy competition and a whole new level of business and services.
Another goal is to encourage a collaborative market where there is more interaction between the authorities, the people, and the private sector. More opportunities are also present for the development of working prototypes to be evaluated by government agencies.
Because of these many improvements for infocomm technology, companies are able to empower patients and caregivers, giving them the power to manage their health and well-being more closely. Also, opportunities lie in products and services that capture medical-related data such as sensors and devices that could be used for medical institutions.
How about cloud computing?
Singapore will be implementing a nationwide fibre-optics broadband with up to 1Gb speed. This will level up cloud computing and data centre hosting services. At present, Singapore is host to more than ten cloud data centers of cloud service providers around the globe, and the country is still planning to incentivize local business to adopt cloud computing, thus promoting the country’s image as a communication hub.
How about mobile technology and creative media?
In 2009, Singapore’s 3G mobile services resulted to tremendous growth in mobile subscription. Since then, further technological advances have surfaced, such as 4G mobile services released by three main telcos in the country. Because the country is very technologically advanced, there are many opportunities for software developers to use the system as a test bed for proposals and projects.
E-commerce is also a budding trend in the country. Recently 75% of purchases made using mobile devices were from smartphones, and these purchases include fashion items, airline and movie tickets, automotive goods, and computer hardware.
Singapore’s strength is in its building capability and innovative solutions. With the right attitude in pursuing these many business opportunities, your investments, together with Singapore’s country data, are sure to flourish.