Global Market Research Company US Singapore Next Generation Network Market Forecast | Page 7

Industry Brief
Singapore Next Generation Networking Market to Witness 40% CAGR until 2023
According to TechSci Research report, “Singapore Next Generation Network Market By Type, By Deployment Type, By
End User, Competition Forecast and Opportunities, 2013-2023’’, Singapore next generation network market is forecast
to grow at a staggering CAGR of more than 40% during 2018 - 2023 owing to the government’s Smart Nation Initiative,
rising need to simplify networking operations coupled with growing demand for enterprise mobility and cloud services
from enterprises and service providers. Moreover, the market is also expected to grow due to rising demand from
telecom service providers to manage their networks more efficiently in order to provide better services to their
consumers. Furthermore, growth in Singapore next generation network market can also be attributed to increasing
number of enterprises with multiple offices and need to connect them with Software Defined Wide Area Network.
With growing demand for different types of next generation network services in Singapore, their deployment is gaining
momentum across various end users. Among all the types, Software Defined Networking (SDN) accounted for the
largest share in 2017 in Singapore next generation network market as SDN aids in decreasing operational costs and
allows networking professionals to manage the entire networking through a centralized controller. Cisco Systems
Singapore, VMware Singapore Pte. Ltd, Huawei International Pte. Ltd., and Nokia Solutions & Networks Singapore Pte.
Ltd. are few of the major players operating in Singapore next generation network market.
Telecom service providers are the dominating end users in Singapore next generation network market backed by
growing demand for efficient and effective services, use of general-purpose data center solutions by telecoms to run
their networks and increasing shift towards cloud-based service delivery and software-driven operations. “With rising
demand for cloud-based services, demand for next generation network solution is also increasing to provide fast and
efficient services to the end users. Moreover, growing need to simplify the network operations is further pushing the
demand for next generation networks across Singapore. Additionally, rising IoT adoption and enterprise mobility is
expected to further steer growth in Singapore next generation network market in the coming years.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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