The Singapore ICT market reached approximately USD 33.38 Billion in 2025. The market is projected to grow at a CAGR of 7.30% between 2026 and 2035, reaching a value of around USD 67.53 Billion by 2035.
Base Year
Historical Period
Forecast Period
In 2021, Singapore's ICT sector secured the 2nd position in Digital Competitiveness in Asia, as per the "World Digital Competitiveness Rankings" by IMD Business School.
Singapore achieved nationwide 5G SA coverage by the end of 2022, making it one of the world's first countries to do so.
IMDA, a government organisation in Singapore, created the Green Data Centre Innovation Programme (GDCIP) in May 2024 to support important research, development, and demonstrations in improving data centre efficiency in the country.
Compound Annual Growth Rate
7.3%
Value in USD Billion
2026-2035
*this image is indicative*
| Singapore ICT Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 33.38 |
| Market Size 2035 | USD Billion | 67.53 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 7.30% |
| CAGR 2026-2035 - Market by Type | IT and Infrastructure Services | 8.0% |
| CAGR 2026-2035 - Market by Industry Vertical | Retail and E-Commerce | 8.2% |
| 2025 Market Share by Industry Vertical | BFSI | XX% |
The Infocomm Media Development Authority (IMDA) in Singapore reported that in 2022, the digital economy in Singapore, which includes the information and technology (ICT) field and digitalisation in other sectors, contributed to 17% of the country's gross domestic product (GDP). The ICT sector specifically experienced a growth of 8.6% in 2022, surpassing the overall economy's growth rate of 3.6%. Looking ahead, the digital economy across Southeast Asia, including Singapore, is expected to expand significantly, reaching S$1 trillion by 2030. This growth is expected to be primarily fuelled by the increasing number of internet users and the expanding middle class in the region.
Singapore's strong economic expansion, the rise of innovative information technology startups, and advancements in artificial intelligence and automated machine learning are key factors driving the market. Automated machine learning is particularly significant as it allows for the automation of repetitive tasks like data cleansing, thereby easing the workload on technical teams within organisations.
Artificial intelligence and machine learning are being integrated into various ICT applications to enhance data analysis capabilities, optimise operations, and improve decision-making efficiency in diverse sectors. Moreover, artificial intelligence is set to revolutionise the ICT sector by enhancing the performance of communications, content, applications, and digital commerce through technologies like machine learning, deep learning, and natural language processing.
“Singapore ICT Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Enterprise Size
Market Breakup by Industry Vertical
| CAGR 2026-2035 - Market by | Type |
| IT and Infrastructure Services | 8.0% |
| Telecommunication Services | 7.6% |
| Hardware | XX% |
| Software | XX% |
| CAGR 2026-2035 - Market by | Industry Vertical |
| Retail and E-Commerce | 8.2% |
| IT and Telecom | 7.8% |
| BFSI | 7.5% |
| Government | XX% |
| Manufacturing | XX% |
| Energy and Utilities | XX% |
Based on industry vertical, the market is divided into BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others. The retail and e-commerce sector is projected to grow at a CAGR of 8.2% during the forecast period of 2026-2035. With the growing demand for personalisation among customers, retailers and e-commerce providers are leveraging ICT technologies to improve customer experiences.
Major market players are investing heavily in technological upgradation to gain a competitive edge.
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In 2025, the market reached an approximate value of USD 33.38 Billion.
The market is estimated to grow at a CAGR of 7.30% between 2026 and 2035.
The market is estimated to witness a healthy growth during 2026-2035 to reach around USD 67.53 Billion by 2035.
The market is being driven by rapid urbanisation and swift digitalisation across the country.
The key trends aiding the ICT market in Singapore include the development of data centres and the rapid adoption of technologies like 5G across the region.
The different enterprise sizes considered in the market report include small and medium enterprises and large enterprises.
The major players in the market are IBM Corp., Microsoft Corp., Google LLC, SAP SE, Oracle Corp., Intel Corp., HP Inc., Singapore Telecommunications Ltd., StarHub Ltd., and Cognizant Technology Solutions Corp., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Enterprise Size |
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| Breakup by Industry Vertical |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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