1 in 2 Singapore firms are accelerating their digital evolution

Approximately 67% of IT decision-makers have said their budget has increased.

More than half, or 54%, of Singapore firms are accelerating their digital evolution, with the COVID-19 pandemic as the main driver according to the latest Equinix 2022 Global Tech Trends Survey.

Around 67% of IT decision-makers have confirmed that because of the pandemic, their budgets have increased. As a result, 62% of Singapore respondents intend to increase investment in interconnection services to progress digital transformation and build resilience.

More than one in two Singapore firms have increased spending on carrier-neutral colocation solutions to facilitate the planned rise in digital deployments.

Most firms (85%) are prioritising improving cybersecurity as part of their digital-first strategies. Approximately 83% said complying with local market data regulations is critical, whilst another 83% highlighted the need to future-proof their businesses.

According to IT leaders, the most feared threats were cyber attacks and downtime caused by infrastructure issues (both 76%), with security breaches and data leaks following closely (75%).

“Businesses in Singapore are adopting more aggressive IT strategies and accelerating digital transformation journeys in the wake of the pandemic. This will enable businesses to leverage data-backed insights for enhanced security and agility, increasing overall resilience towards global dynamics,” Yee May Leong, Managing Director of Equinix South East Asia said.

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