In the several trade and industry segments the Singapore region is a leader. Along the top underwriters such as manufacturing, financial services and oil-refining the Singapore region contrasts. The legal authorities of the Singapore region established different and profitable initiatives to promote the region as a regional hub for the financial technology (FinTech).
According to the Singapore Market Research Report, the Singapore real estate industry was witnessed to gain the maturity mainstream owing to the region serves as a global business hub, tourism center and the efficient residential housing requirement in the region. The significant increase in the population and tourist influx into the region has permissible Singapore to developed the scope and become one of the most effective real estate markets across the globe with the majority of the population living in the Government’s HDB properties.
Although, the Singapore Online Advertising Market is at the effective growth observing intense competition amongst the advertising agencies. The speedy rise in the utilization of social media, effective digital infrastructure and wide smartphone penetration has fueled the momentum to the advertising spent. Moreover, based on the advertising, the social media advertising ranks second with the significant increase in the number of users and time spent. Whereas, the Video advertising has progressively increase in the last five years however, the banner and online categorized advertising have observed the minor reduction in term of the relative share.
Additionally, on the basis of sectors the FMCG spends the highest on the digital advertisement for its products and services due to the intense industry competition and lower switching price for the products. This is shadowed by the Entertainment and Media segment which has the foremost share in the online advertisement spend in the Singapore to manage higher visibility of the digital games and the online music.
Nonetheless, the effective key players in the markets of Singapore are developing the working techniques, increasing the usage of product and establishing the several profitable research and development programs which further benefitted for increasing the trends and attaining the growth opportunities.
Nonetheless, the Singapore has one of the best health infrastructures across the globe. The populace is elderly and medical tourism will fuel the requirement for the healthcare services in the Singapore in the forecasted period. The clinics market in the Singapore augmented at a positive CAGR during the review duration. The market is at an increasing stage with the mainstream clinic groups undertaking inorganic methods of enlarging and broadening their service portfolio. Whereas, the in 2017, the central region of the Singapore has registered for the largest number of the clinics in the region, fueled by the high populace and higher connectivity with the other parts of the Singapore. Moreover, the patented drugs have registered for the highest share in the revenue in Singapore prescription drugs in 2017. The Generis drugs has registered for the enduring share of the revenue.
Hence, the future outlook of the markets in the Singapore, will observe an effective growth more significantly in the coming years over the coming decades.
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Ankur Gupta, Head Marketing & Communications