Singapore : WHEN it comes to big data, Singapore is going large. More companies are looking to lease existing buildings for data storage, and some tech companies are building their own facilities. With the announcement from Google and Facebook that they are setting up data centres here, this burgeoning new sector has been thrust into the limelight.
Across the Asia-Pacific, the data centre market is expected to grow by 27 per cent annually, according to research by PwC, and Singapore is set to be a key beneficiary.
This wave of demand presents excellent opportunities for investors, creates jobs, and elevates Singapore’s status as a tech hub. South-east Asia’s rising Internet and social media use, as well as the growth of e-commerce mean that the city-state is becoming a hotbed for tech companies looking to use it as a gateway to enter other markets.
Singapore is one of the “Big Four” in the region when it comes to data centres, along with Hong Kong, Sydney and Tokyo. While both Hong Kong and Singapore are popular choices for companies looking to set up headquarters, Singapore has an edge with its stable geopolitical climate, supportive regulatory environment and relatively cheaper land costs. The Singapore government has also prioritised diversity of locations and greenfield availability for data centres, allowing the market to evolve and meet demand.