Market Trends of Singapore Data Center Physical Security Industry
Video Surveillance Segment Holds Significant Share
- Since sensitive and important data is stored in data centers, security is a top priority. Data center operators use video surveillance systems to ensure security standards and regulations are met. This allows operators to monitor access, detect unauthorized access, and maintain compliance.
- Data protection laws set strict requirements for data center operators. Video surveillance can help maintain compliance by improving physical security measures.
- The population of Singapore is 100% urbanized, with 8.7 million mobile connections, accounting for 147% of the population. This data suggests that every citizen in the country owns more than one mobile device. The increased use of connected devices and smart homes has also increased the demand for digital data and network traffic. This makes Singapore one of the regional pioneers in the mobile commerce field. This means an increase in data consumption across data centers and, in turn, an increase in the domestic video surveillance market.
- The country's 5G network is booming and is expected to reach 946.04 Mbps by 2029. 5G networks and services are expected to form the backbone of growth in the telecommunications sector in the coming years as service providers seek new ways to target customers in an already saturated market. The growth of the telecommunications industry is increasing the size of data centers, thereby increasing the need for video surveillance. Video surveillance has a powerful deterrent effect, reducing the likelihood of physical attacks and unauthorized access to critical data.
- Factors such as increased connectivity and online shopping are likely to contribute to increased data generation and processing power. As the country's internet penetration rate increases, the number of smartphone users is also expected to increase. This represents an increase in data centers and the associated demand for video surveillance to prevent malicious or erroneous operations within the data center and provide evidence to identify those responsible in the event of an incident.
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IT & Telecommunication Segment Holds Major Share
- The Singaporean government is pivotal in stimulating demand and the utilization of technology and telecommunications across the country. The government is launching forward-thinking projects like the Smart Nation Initiative, Digital Economy Framework, Digital Government Blueprint, and Industrial Transformation Map.
- Singapore continues to roll out 5G. 5G networks and services are expected to be the cornerstone of the telecom industry's development over the next few years as service providers look for new ways to attract customers to the market. Singapore is expected to expand standalone 5G coverage to seaports such as anchorages, fairways, terminals, and wharves by mid-2025 to facilitate 5G deployment in shipping.
- In August 2022, the Infocomm Media Development Authority (IMDA) unveiled three more 5G projects to help Singapore use the fifth-generation mobile network in different areas. The projects involve using 5G in augmented reality (AR), health technology, and the maritime sector. Furthermore, in July 2022, Singtel confirmed to have achieved more than 95% standalone 5G coverage across Singapore, three years ahead of the regulatory target of end-2025, covering more than 1,300 outdoor locations. This would increase the demand for bandwidth due to increased data traffic, further driving the data center market and increasing the need for data center security in the country.
- The Government Technology Agency of Singapore primarily focuses on the digital transformation of the public sector using advanced data and communication tech to improve the daily lives of Singaporeans. Plans such as the Smart Nation Initiative, the Digital Economy Framework, the Digital Government Blueprint, and the Industrial Transformation Map (ITM) continue to drive the demand for technology and telecommunications adoption across the country.
- Furthermore, Chinese cloud service provider Alibaba Cloud launched its cloud computer in Singapore, eliminating the need for powerful desktop hardware to perform compute-intensive tasks. All connectivity and storage will be managed by Alibaba Cloud, which is targeting organizations involved in medical research, financial modeling, and oil and gas simulations, among other use cases. Such instances are expected to increase the demand for the cloud industry in the market.
