Online Content Market to Blossom
Market research firm Frost & Sullivan expects to see robust growth in Singapore’s online content market over the next 5 years. Worth over SGD 30-million in 2008, it is expected to grow to over SGD 165-miilion by 2013.
Online gaming dominates the local content market now. Other content services include online music and videos. However, it is online gaming that has taken off significantly here, driven by the popularity of community focussed MMOGs (massively multi-player online games).
Singapore’s planned next-generation National Broadband Network will certainly give the online content market a fillip by making it more feasible to provide bandwidth intensive services such as Video-on-Demand.
However, I personally feel that it is the new mobile devices coming onto the market that will really boost the market. Apple’s iPhone has shown how a truly mobile device can effectively tap into the Web. Some of the 1st-generation applications on its fledgling App Store already demonstrate how ubiquitous, always-on connection to the Internet can be genuinely useful.
Most of the successful mobile apps do not require massive bandwidth or production infrastructure . Instead, the critical factors are to have relevant content and to present it intuitively through well designed user interfaces. Providing such relevant, localized & niche content is a field where you don’t really need to be big to succeed. So, I do expect that small businesses can take a big bite of the SGD 165-miilion online content market come 2013.
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