Consumer trends
The mobile phone market is the largest sub-sector of the consumer electronics market in Singapore, with over 5.57 million people owning a smartphone. In addition, the development of 5G technology has boosted usage of high-speed internet and 5G-capable smartphones. The city-state is at the forefront of 5G adoption. Indeed, Singtel achieved over 95 percent standalone 5G coverage in July 2022, three years ahead of the 2025 target set by the government. The city-state became the first in the world to be fully covered by an autonomous 5G network. Such progress has enabled higher data speeds and lower latency, which are essential in the era of remote working and online content consumption.Currently, several trends are reshaping the sector and influencing the deployment of emerging technologies. One of these is the growth of the Internet of Things (IoT), which interconnects devices and enables them to interact with each other. This has led to the rise of smart homes, where devices can be controlled and monitored remotely. Alongside smartphones, smart watches and smart speakers are also gaining in popularity. This reflects Singaporeans' demand for convenience and seamless connectivity in their daily lives. A further trend is the growing integration of artificial intelligence and machine learning into consumer electronics.
