Specific to Singapore, tech spending will grow to approximately US$18 billion this year. According to Forrester, the “Silicon Valley of Asia” will remain a stable regional hub for technology talent and innovation.
Tech spending in Asia Pacific (Apac) will grow by a CAGR of 6.4% to 7.4% per year to reach US$876 billion ($1,185 billion) in 2027, according to Forrester.
Software spending will outpace other IT categories, climbing from 26.4% in 2024 to 30% of total tech spend in 2027. This is due to demand generated by artificial intelligence (AI) and AI-augmented enterprise software and services.
