A study done by TechSci Research estimates that Singapore is set to see a CAGR of more than 20% in its IoT market. A large part of this growth can be attributed to the government’s new Smart Nation initiative wherein it envisages converting the country into a digital innovation hub.
The project will combine smart mobility, smart healthcare, smart building, smart industry, and smart governance. Central to these technologies is IoT, which is expected to remain central to the country’s development in the near future.
Building a smart nation
The Singapore government’s website, GovTech, recently posted an article – 10 Tech Developments to look forward to in 2019. Its vision for the nation includes autonomous vehicles – cars, buses, even flying taxis for the upcoming year. IoT sensor-enabled smart lampposts are also expected to be installed in a year or two. The installation of such lampposts will not only improve security but also inform urban and transport planning through real-time tracking of traffic congestion, pedestrian footfall, even temperature, and humidity. Even 5G is predicted to roll out by 2020, towards which three major telecommunications providers of the country are working.
IoT in Singapore
At the Smart Nation Vision launch in November 2014, Singapore’s Prime Minister said,
“If you can automate the things which are routine, we can focus our time and energy on the things that really matter to us.”
This, in essence, captures the spirit of Singapore’s Smart Nation program. The government is actively working towards creating an environment that thrives on IoT sensors and technologies. Such an ecosystem will involve public-private partnerships, import of advanced technology, and encouraging innovation in various sectors.
The increased demand for machine intelligence, data analytics, and smart solutions is fueling the IoT industry in Singapore. The government’s efforts to integrate place IoT at the heart of the country’s functioning is a testament to its commendable forward-thinking. An exciting IoT-driven future awaits the Lion City.