Key View
- Singapore’s Ministry of Communications and Information unveiled that an expert committee is developing a Digital Infrastructure Act to fortify the resilience and security of Singapore’s digital infrastructure beyond the current Cybersecurity Act, addressing a wider spectrum of risks to maintain continuous service delivery amidst a highly digitalised economy.
- The Digital Infrastructure Act is the latest in a series of initiatives in developed markets aimed at promoting the resilience of critical digital infrastructure from cyberthreats, and we expect the regulation to substantially increase enterprise-level cybersecurity spending in Singapore, which we anticipate to grow at a 11.29% CAGR between 2024 and 2028.
- Moreover, we expect a key emphasis of the Digital Infrastructure Act to target the local telecoms industry, data centre and cloud computing industries to mitigate the threat posed by growing numbers of infected infrastructure, hence why we expect the latter to be the key drivers of increased cybersecurity spending over the medium term.
