Singapore cloud market to reach US$3.6b by 2023, says report

Singapore

SINGAPORE'S public cloud computing market is expected to reach US$3.6 billion by 2023, representing a CAGR (compound annual growth rate) of 20 per cent, according to a Google Cloud study conducted with Boston Consulting Group.

In a baseline scenario in the report, cumulative impact from public cloud use on Singapore's gross domestic product could be US$31 billion across 2019 to 2023. Annualised, this would be equivalent to about 1.7 per cent of GDP, said the report.