Background

Digital transformation is imperative for companies to tap into the opportunities in a digital economy. To unlock the opportunities that technology and digitalisation can bring to all types of companies, the Infocomm Media (ICM) industry has to play a dual role. Not only must it transform itself, it must also play the role of a growth multiplier for other industries.

As the ICM industry continues to grow and move towards a new era of massive digitalisation, companies will need to harness frontier technologies, apart from digitisation, to thrive in the future economy.

The four key frontier technology capabilities that Singapore will be developing are:

Outlook

Infocomm Media (ICM) will be a key driver in transforming the way people live, work, play and learn, as Singapore strives to be a Smart Nation that supports a digital economy.

A key enabler of growth for all industries, ICM enhances Singapore's competitiveness by transforming work processes and raising productivity through a highly skilled and specialised workforce.

Individuals, who are keen to forge a rewarding and fulfilling career in ICM, can expect many exciting career prospects awaiting them.

Facts and Figures

The infocomm media sectors in Singapore are dynamic and fast-moving, reflecting the evolving preferences and consumption patterns of users and audiences in the country.

Here is the story of the industry, told in numbers.

Annual Survey on Infocomm Industry 2018

Conducted since 1999, the 2018 Annual Survey of the Infocomm Industry (“Survey”) is the 19th in the series, with the objective of tracking the market performance of the infocomm industry
  • The infocomm industry revenue increased by 15.1% year-on-year from 2016 to 2017 to reach S$199.2 billion, having recovered from a 6.9% decline in 2016
  • The revenue growth in 2017 was mainly attributable to an increase in Hardware re-exports. The compounded annual growth rate (CAGR) of the infocomm industry revenue grew by 12.4% from 2012 to 2017
  • The Hardware segment continued to be the largest contributor to the infocomm industry revenue, with a share of 74.2% of revenue. This is followed by the IT Services and Software segments that contributed 13.6% and 7.0% of revenue respectively
  • The fastest growing segment was the IT Services segment, which grew by about 68.5% year-on-year from 2016 to 2017. The CAGR of the revenue contributed by the IT Services segment grew by 16.8% from 2012 to 2017
You may find the detailed Annual Survey on Infocomm Industry 2018 here

Annual Survey on Infocomm Media Manpower 2018

This is the second cycle of Annual Survey on Infocomm Media (ICM) Manpower conducted since the formation of IMDA in October 2016. This survey’s predecessor is the Annual Survey on Infocomm (ICT) Manpower, which had been conducted for 17 cycles since 1999.
  • The number of infocomm media professionals* employed was 210,100 in 2017
  • Together with 14,700 infocomm media job vacancies, the total demand of Infocomm media professionals was 224,700 in 2017
  • Demand for infocomm media professionals is projected to grow by another 35,800 in the next three years (2018 – 2020)
  • Infocomm media professionals constituted predominantly Singapore Residents (70%), males (68%) and those who were at least tertiary educated (83%)
  • * An infocomm media professional refers to a person engaged in infocomm-relatedwork or a person with specific media content job roles employed in a companyacross sectors
You may find the detailed Annual Survey on Infocomm Media Manpower 2018 here

IMDA Media Freelancer Study 2018

In 2018, IMDA conducted a study on the current landscape of media professionals offering services as freelancers (“media freelancers”) in Singapore. The study took stock of current pool of media freelancers in 2017 as well as 3-year projected demand (2018-2020).
  • The study estimates that in 2017, there were 4,000 Singaporeans and Permanent Residents who worked as freelancer on media related-roles and whose only source of income came from such freelancing engagements
  • The demand for freelancing services was expected to grow between 5% and 8% per annum from 2018 to 2020 - to a demand of between 4,700 and 5,000
  • In terms of future demand*, Interaction/ UX Designer and Advertising Account Executive/ Manager were expected to grow most significantly, especially in the non-media sectors
    * Demand refers to the number of potential work opportunities for media freelancers in Singapore
You may find the detailed IMDA Media Freelancer Study 2018 here