Overview

Singapore embraces innovation to support positive social and economic impact. As one of Asia’s leading digital centers„ it serves as the preferred base for Information and Communications Technology (ICT) firms. The country consistently ranks as one of the world’s top network-ready nations, thanks to ongoing investments in ICT infrastructure, training programs, research and development (R&D) support, legislation, a highly skilled workforce, minimal cultural and language barriers, and an ecosystem that fosters innovation. 

Key national programs include:

• National Digital Identity (2003): Provides a trusted digital platform for citizens and businesses to transact securely.
   
• Digital for Life (2021): Promotes digital inclusion and digital literacy for all citizens.
   
• Digital Trust Centre (2022): Focuses on developing and promoting AI capabilities and trust technologies.
  National AI Strategy 2023 (NAIS 2.0): Aims to develop excellence in AI while empowering individuals, businesses, and communities to use AI confidently and responsibly.
   
• Smart Nation 2.0 Initiative (2024): Goals include empowering people and businesses to harness technology, using technology responsibly to foster community, and ensuring Singaporeans’ confidence in the security and reliability of digital systems and services.

Singapore leads in many international ICT rankings: 

• Top digitally competitive economy in Asia, according to the International Institute for Management Development (IMD) World Competitiveness Rankings 2023.
   
• First in business AI readiness and government AI readiness, as reported by the Salesforce Asia Pacific AI Readiness Index 2023.
   
• Second in the Intellectual Property Rights Index 2024, according to the World Intellectual Property Organization (WIPO) Global Innovation Index 2024.

As of February 2024, the StartUp SG Network reports that Singapore is among the fastest-growing startup communities globally, boasting over 4,000 startups. Singapore is also home to many global technology firms, including Google, Microsoft, IBM, and Meta. These companies collaborate with each other and with end-user firms to create innovative, commercially viable solutions for the region and beyond. For instance, LinkedIn established its first international data center in Singapore to manage all its Asia-Pacific traffic.

The education system in Singapore provides a consistent stream of industry-ready talent through close collaboration with leading industry players. For example, due to the rise of fintech opportunities, IBM’s Centre for Blockchain Innovation has partnered with the NUS School of Computing to develop a joint financial technology module.

According to the Singapore Digital Economy Report 2024 by the Infocomm Media Development Authority (IMDA), Singapore’s digital economy continues to thrive, contributing US$84.5 billion, or 17.7% of the nation’s Gross Domestic Product (GDP). From 2018 to 2023, the digital economy experienced a robust compounded annual growth rate (CAGR) of 11.2%, nearly double the national GDP growth rate of 5.8%.

The United States and Singapore have a Mutual Recognition Arrangement (MRA) on telecom equipment certification.  The MRA allows equipment testing in the exporting economy without needing further testing, inspection, or certification by the importing country. U.S. companies may refer to the list of the recognized testing labs and list of recognized certification agencies in the United States. 
 

 Table: Singapore Information and Communications Technology Market Size, million USD

*Including ICT services
Units: $ millions
Source: IHS Markit
 

Leading Sub-Sectors

The best prospects leading sub-sectors are Artificial Intelligence, Financial Technologies (Fintech), and Data Privacy, Data Security, and Cybersecurity. For more information about these sub-sectors, please consult the Critical and Emerging Technologies (CET) section below.

Opportunities

Looking ahead to 2025, Singaporean corporations are expected to increase technology spending driven by government initiatives and a commitment to digital transformation. The 2025 budget includes a US$2.2 billion top-up to the National Productivity Fund (NPF) to enhance high-value investment and enterprise innovation in emerging areas as well as a US$111.9 million Enterprise Compute Initiative aimed at accelerating AI adoption to improve productivity and decision-making and drive enterprise transformation.

The budget also announced a new US$746 million Private Credit Growth Fund that will provide more financing options for high-growth local enterprises including schemes for internationalization and for mergers and acquisitions. A Global Founder Programme will be launched later this year to encourage global founders to anchor and grow more new ventures in Singapore.   

Resources

Trade Shows

Gitex Asia 
April 8-9, 2026

Blackhat Asia
April 21-24, 2026

Milipol Asia-Pacific / TechxSummit 2026
April 28-30, 2026

Asia Tech x Singapore (ATxSG) / (Previously known as CommunicAsia/BroadcastAsia/SatelliteAsia)
May 27-29, 2025

Cloud Expo Asia/Data Centre World  
October 8-9, 2025

GovWare Conference & Exhibition / Singapore International Cyber Week (SICW)
October 20-23, 2025

Singapore Week of Innovation and Technology (SWITCH)
October 29-31, 2025

Token2049
October 1-2, 2025

Singapore Fintech Festival
November 12-14, 2025

Singapore Government Offices

• AI Singapore
• Agency for Science, Technology and Research (A*STAR)
• Centre for Liveable Cities
• Cyber Security Agency of Singapore (CSA)
• Defence Science and Technology Agency (DSTA)
• Digital and Intelligence Service (DIS)
• Government Technology Agency (GovTech)
• Home Team Science and Technology Agency (HTX)
• Infocomm Media Development Authority (IMDA)
• Ministry of Digital Development and Information (MDDI)
• Monetary Authority of Singapore (MAS)
• National Research Foundation (NRF)
• Smart Nation Singapore

U.S. Commercial Service, Singapore Contact
Ms. Amelia Yeo, Commercial Specialist 
Email: Amelia.Yeo@trade.gov