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The ICT industry in Singapore and Malaysia is evolving, with enterprises increasing their ICT investments in the latest technologies. Kable’s survey of 50 Singaporean and Malaysian enterprises finds that 48% of respondents plan to increase their overall ICT budgets in 2014, which is 4% higher than the proportion in 2013.
Expenditure on both hardware and software is set to increase in 2014, acting as an instrument of growth for the region’s entire IT market. According to Kable’s survey, Singaporean and Malaysian enterprises are planning to allocate the largest proportion (28%) of their ICT budgets to hardware, followed by software (22%) in 2014.
Investment in emerging technologies will be a top priority
In terms of future investment priorities, enterprises are investing in proven technologies such as enterprise applications and communications & collaboration, as well as in cutting-edge solutions such as business intelligence (BI) and cloud computing. Kable’s survey confirms that more than 85% of respondents are planning to invest in these technology categories in the next two years. Of the various technologies in Kable’s analysis, enterprise applications has the highest penetration rate, and this trend is expected to continue in the next two years, as more than 95% of respondents plan to spend on this domain to improve their operational efficiency. As enterprises look to cut operating costs and attain a competitive edge in the global market, over 90% of enterprises in the region are keen to invest in cloud computing through to the end of 2015.
Financial stability influences ICT vendor selection
“The demand for business intelligence technologies is getting popular in Singapore and Malaysia, primarily fuelled by the exponential growth of unstructured data,” comments Tim Gower, a Kable Research Director. “Consequently, enterprises are investing in the latest BI technologies to extract valuable insight and make more informed business decisions”. Kable also notes that financial stability and pricing are the most important factors influencing ICT vendor selection. "While a vendor’s financial health may dissuade enterprises from making investments, effective pricing goes a long way to improve brand preference and loyalty".
