While Singapore’s enterprise mobility market weathered a decline in terms of total value last year, this year is expected to see it bounce back to growth.
Data collected late last year from industry analyst firm GlobalData suggested that Singapore’s enterprise mobility market would see a decline of 5.6 per cent in 2020, as uncertainty in business environment created by the COVID-19 pandemic saw local enterprises take a conservative approach towards IT spending.
This growth is expected to be driven by the rising adoption of remote working and bring-your-own-device (BYOD) strategies across enterprise.
In the short-term, as business activity picks up, enterprise mobility spending is expected to recover this year.
“With businesses adapting to the new normal, and allowing employees to work-from-home and use their personal devices to access corporate networks, their investments on enterprise mobility solutions will recover in 2021 and grow up to US$347m in 2024,” GlobalData technology analyst Nidhi Gupta said.
It is anticipated that mobile application platform management (MAPM) software, which is expected register a CAGR of 12.1 per cent over 2019-2024, will lead the charge in terms of growth within the mobility software and applications segment.
Singaporean investment in MAPM software, much of which is designed to support remote workforces with enterprise apps and secure access to the same on devices they would use in the office, is expected to increase going forward.
MAPM software is just one subcategory in the broader mobility software and applications segment, which represents the largest market segment in the enterprise mobility market in Singapore, in terms of value, according to GlobalData.
From Gupta’s perspective, the workforce changes wrought by the pandemic will play a huge part in the market segment’s overall growth.
“Managed mobility services segment will see its market value grow at 8.1 per cent CAGR during the forecast period,” she said. “The rising complexity of managing the huge number of mobile devices and apps that connect employees operating remotely with enterprise data and network will be instrumental in driving the demand for managed mobility services.
GlobalData's forecasts echo growth expectations by fellow industry analyst firm Gartner for the ASEAN region more broadly.
According to the latest forecasts by the firm, ASEAN nations including Malaysia, Thailand and Indonesia are expected to enjoy a 4.7 per cent year-on-year surge in IT spending this year, while Singapore could see up to 5.2 per cent growth in 2021.