The technological ecosystem is still in the disruptive stage with constant rise and pitfalls doing the rounds time and again. Every so often we see a new innovation that is ready to change the game and take the market by storm. Amid this advancement, Singapore has managed to position itself at the center of innovation and digital tech development.
For long being known as the financial hub, it is now in the race to become the Silicon Valley of Asia. While the tech giants like Google, Facebook, Amazon, and, Salesforce already hold headquarters or significant operations in Singapore, other big companies like Tencent, ByteDance, and Alibaba are all set to come to Singapore and for good.
Technology in Singapore has been booming at a significant pace. Even amid the global pandemic, it has kept going. This technology is the key to the development of various industries in the region. From healthcare to finance and eCommerce, Singapore has managed to attract several global startups to its tech-savvy land.
Key Growth Engine for Many Industries Around the World
As per reports by the World Bank, Asia’s emerging markets were expected to account for over 45% of global growth by the year 2020. This stat is enough to prove the potential of the Asian continent across the globe and the power that it holds economically. Singapore has a great advantage of leveraging this potential and it is doing so.
The nation has established itself as an innovation powerhouse over the past years and has opened a pathway for global companies as well to boost their business offering great diversity and versatility.
But what makes it a digital tech hub? The credit undoubtedly goes to its four major components. A highly advanced technological infrastructure, talent pool, dynamic start-ups, and strong support of the government.
Fast Developing Innovation Ecosystem
Singapore’s technical advancements can be attributed to its strong commitment to the research and development sector and also the private sector.
These include advanced manufacturing and engineering, urban solutions, services and digital tech works, health and biomedical sciences, etc. Not just that, the nation is also known to provide active support to the newer sectors such as financial technology famously known as fintech.
How Technology Has Helped Singapore Grow?
Is Singapore technologically advanced? Most definitely, yes. Here are a few ways in which technology in Singapore has played an active role in the nation’s growth and popularity across the world.
1. Significant Investments
Due to its seemingly high rising technology advancements, Singapore has attracted a number of global companies that are ready to set camps on its shores.
This has increased the demand for talent, most importantly the need for professionals with skills like cloud, multi-cloud, AI, and data analytics has grown significantly.
2. Job Opportunities
Emerging as a smart nation has also led Singapore to create a wide range of job opportunities in the tech sector. In fact, certain reports suggest that the need for tech talent will lead to nearly 3500 jobs being created each year in the financial sector alone.
Professionals with skills like artificial intelligence, robotics, engineering, UX, and programming will be reaping the fruits of technical uprise.
3. High Demand Mobile Development
Being a digital tech hub, Singapore also holds a high demand for mobile and app development. As a result, fields like cybersecurity and mobile app development with AI are gaining importance.
Professionals skilled in infrastructure architecture, UXUI design, and data analysis are in great demand.
4. Technical Advancements that Made Singapore a Smart City
Singapore has truly maintained its smart architecture across industries. Here are five unique ways in which technology in Singapore has been leveraged to a high potential and will continue to soar in the times to come.
5. Smart Living
Living in Singapore, you can experience smart living that aims to advance our daily living experiences by making homes smarter through the internet of things.
This can be achieved by installing devices and applications in your smart-enabled home. As part of this system, you are free from worrying about turning off the lights when you leave your house.
Also, there are options for child and elderly monitoring for their well-being when they’re home alone. Smart homes are the future of innovation and Singapore has well incorporated these into its everyday life.
If this goes well, people in Singapore will soon be able to experience self-sufficient homes in real-time.
6. Technology in Police Systems
One of the best steps that Singapore has taken towards the security of its citizens is the introduction of technology in the police systems. Special drones that can fly as high as 60 meters were integrated to conduct aerial searches.
This will give the police systems an extra edge to detect criminal activities and one step closer to safety.
They have also introduced special robots that are used for ground surveillance. These special robots are used in special events for patrolling and detecting fishy activities. Robots also solve the problem of remote area surveillance where it’s difficult for humans to perform.
7. Cashless Transactions
Another useful step has been taken in the way of making payments. Digital payments have gained momentum. This will be a great relief from the hassle of standing in the long lines for ATMs or banks. The banking systems will also be streamlined through digitalization.
People are expected to carry very less or no cash. This will not only eradicate illegal trade that relies on cash but also lessen the crimes related to robberies and mugging. Digital payments and transactions have also made way for several mobiles applications with e-wallets and e-payments.
8. Virtual Reality and Augmented Reality
Calling it a smart nation and not mentioning digital tech trends like virtual reality and augmented reality will not be fair.
Mobile application designs that engage users with their products remotely leveraging the augmented reality are gaining popularity. Today, people in Singapore can try on clothes, makeup, and even add furniture to their homes with just their smartphones.
Virtual reality on the other hand has made Singapore a great attraction for companies with VR development. VR has also been of great interest to gamers and game development companies for a unique and amazing gaming experience.
9. Robotics Across Industries
Robots have been introduced in certain industrial developments and the results have been outstanding. This step has made Singapore the second most advanced country in the world, after South Korea.
Apart from performing minor tasks like fetching and returning service items, robotics has also been leveraged to change the face of medical treatments physical training for old people.
Singapore has also already incorporated robots into the medical industry. Robots are being used in several pharmacies for tasks like dispensing medication. This makes the process efficient, faster and cuts short the waiting time for the people who urgently need medicines.
Technical advancements will not cease for a long time as long as the human mind is innovating. This fact will always give an extra edge to technology in Singapore to innovate and break barriers in the years to come.
Given its ideal location, tech infrastructure, and innovative environment, Singapore is a great place to establish a business.
If you are looking forward to setting up an offshore development center in Singapore, this is just the right time. Get in touch with Applify today.