Singapore Cloud Computing Market by Service Model, Deployment Model, Subscription Model, Company Size, End User – Industry Analysis, Size and Forecast, 2019-2033

Singapore Cloud Computing Market Growth And Performance

• The Singapore cloud computing market size in 2024 stood at US$ 8.51 billion, alongside a forecasted Compound Annual Growth Rate (CAGR) of 11.33% from 2025 to 2033.
• The Singapore cloud computing industry recorded US$ 7.76 billion in 2023.

Singapore Cloud Computing Market Outlook

The Singapore cloud computing market outlook is shaped by the growing adoption of AI and the increasing demand for scalable, cost-effective cloud-based storage solutions. Industry insights reveal that 58% of Singapore businesses expect their storage needs to more than double in the next three years, driven by AI adoption and the need to retain data longer for reliable AI training. While 64% of Singapore businesses currently use AI, slightly below the global average of 76%, storage remains a critical component of AI infrastructure, second only to security. As organizations prioritize data retention and innovative storage solutions, the Singapore cloud computing market is poised for significant growth, reflecting the region’s commitment to leveraging AI and cloud technologies for future-ready digital transformation.

Singapore Cloud Computing Market Trends

Singapore Government Accelerates Cloud Adoption with GCC and Dedicated Local Zones

The Singapore government is driving the Singapore cloud computing market trend by advancing its Government Commercial Cloud (GCC) initiative. By the end of the year, it aims to migrate at least 70% of eligible systems to commercial cloud services, including mission-critical systems with sensitive data, using AWS's Dedicated Local Zones for enhanced security and resiliency. Over the past seven years, the government has evolved its cloud strategy, enabling the hosting of critical and private data on public clouds while ensuring data geofencing to Singapore and secure connectivity. This pragmatic approach, including workload migration and application rearchitecting, reflects Singapore’s commitment to leveraging cloud technologies for public sector efficiency and innovation.

Proposed Cybersecurity Act Amendments to Strengthen Cloud and Data Center Oversight

Aligning with the Singapore cloud computing market trend, the government is proposing amendments to the Cybersecurity Act to extend oversight to cloud service providers and data center operators. These changes aim to safeguard Singapore’s digital infrastructure by enforcing stricter safety standards and requiring timely reporting of cyberattacks. The amendments highlight the growing importance of cloud and data center security in protecting businesses and individuals from service disruptions caused by malicious hackers. This regulatory update ensures Singapore’s cybersecurity laws remain robust and adaptive to emerging challenges, further solidifying the country’s position as a secure and reliable hub for cloud computing.

Singapore Cloud Computing Market Development

Growing Investments Reshape the Singapore Cloud Computing Market Competitive Landscape

The Singapore cloud computing market competitive landscape is rapidly evolving, with major investments driving growth in the Singapore cloud computing industry. These developments highlight Singapore’s strategic position in cloud technology, ensuring continued innovation, sustainability, and economic growth in the global digital economy. For instance, Amazon is doubling its Singapore investment to USD17 billion by 2028, for cloud infrastructure expansion. Led by AWS, this aims to boost cloud services and AI adoption in Southeast Asia, creating 12,000+ jobs and significantly contributing to Singapore's GDP.

Google’s $5 Billion Investment Drives Singapore Cloud Computing Market

Google has completed the expansion of its data center and cloud region campus in Singapore, increasing its total investment in the country’s technical infrastructure to $5 billion, up from 850 million in 2018. This expansion strengthens Singapore’s position as a regional data center hub and aligns with government initiatives like AI Trailblazers and Skills Ignition SG. The new facilities will cater to the growing demand for high-performance, low-latency cloud services, benefiting enterprises, startups, and public sector organizations. Sustainability remains a priority, with advanced cooling systems and water management practices in place. This investment underscores Google’s commitment to driving Singapore cloud computing market development, supporting digital transformation, and fostering economic growth across Southeast Asia.

Digital Edge Secures $1.6 Billion to Fuel Asia-Pacific Cloud and AI Expansion

Digital Edge has raised over $1.6 billion through a combination of equity and debt financing. Established in 2020, Digital Edge now operates 21 data centers across key markets, including Japan, Korea, India, Malaysia, Indonesia, and the Philippines. The new funding will accelerate the development of AI-ready data centers, enabling the company to meet the growing demand for cloud and AI infrastructure across the Asia-Pacific region. This expansion underscores Digital Edge's commitment to supporting the region's digital transformation and solidifies its position as a leading player in the competitive data center market.

Author: David Gomes (Manager – IT)

*Research Methodology: This report is based on DataCube’s proprietary 3-stage forecasting model, combining primary research, secondary data triangulation, and expert validation. [Learn more]

Singapore Cloud Computing Market Segmentation