Singaporean communications services provider MyRepublic recently announced the launch of Ignite, a new suite of enterprise ICT solutions catered to Small and Medium Enterprises (SMEs) in Singapore. This marks MyRepublic’s expansion into the Singapore enterprise software market.
Designed for scalability, the portfolio of next-generation tools is built to meet the requirements and needs of SMEs. Through Ignite, Singaporean SMEs will be able to boost productivity, ramp up cybersecurity postures, and increase cost-efficiency, as they accelerate their digital transformation journeys.
SMEs form the backbone of Singapore’s economy, making up 99% of all enterprises and employing 72% of the workforce. Yet, the SME segment is often one that is underserved and overlooked, and there remains untapped opportunities to further develop the technology ecosystem for SMEs in the key areas of Cloud, Cybersecurity, Artificial Intelligence, and Internet of Things (IoT).
To address this gap in the market, MyRepublic aims to democratise access to the right solutions and tools that enable SMEs to meet their digitalisation needs, so they can focus on their core business profitability and strengthen their go-to-market strategy.
The overall addressable market for cloud computing, cybersecurity, Artificial Intelligence and IoT in Singapore is approximately USD 3.8 billion in 2022 with a compounded annual growth (CAGR) of 5.6% by the end of 2025. The cybersecurity market in Singapore alone is expected to reach USD 889 million in 2022. Against this backdrop, MyRepublic projects a 15% compounded growth rate over the next 3 years for its enterprise technology business, as momentum picks up in this space. There are plans to further expand the Ignite portfolio with new technology and solutions.
(Source: MyRepublic Group)