Interactive Digital Media (IDM)IDM takes flight |
New Media and Digital Transformation over the past half decade have demonstrated strong power to transform multiple industries and business. Improved communications, alternate commerce & channels for go-to-market, advertising, customer service, productivity improvement, and core changes in business models have all ensued.
In this regard, the Interactive Digital Media (IDM) sector in Singapore provides a unique insight into a converging industry and high-growth sector. Equally important, IDM statistics & trends provide a bell weather and indicator to the overall impact of Digitization and Digital Transformation across industries. As a lens into the future, IDM represents an important sector for Singapore businesses and government to watch and analyze going forward.
Over the years that Deloitte has conducted this Study, we have seen the IDM sector weather turbulent economic times whilst sustaining strong double digit growth. This resilient sector has consistently outperformed Singapore's GDP and the country's traditional media and ICT sectors.
With CAGR growth for Value Add (VA) over the past 4 years of 26% and Employee growth of 22%, IDM represents an outlier growth segment in Technology, Media, and Telecommunications (TMT), akin to Information Technology in the '80's and '90's, BioTech from this decade, and Business Intelligence / Data Analytics in more recent times.
The latest report shows the IDM sector recording its highest growth rates since the commissioning of the
study in 2006. IDM results between 2009 – 2010 display that:
- Revenues grew by 31%
- Value Add (VA) grew by 30%
- Employment grew by 32%
- 2/3rds of Revenue, VA, and Employment was created from local companies
- 2,700 IDM jobs created year-on-year
Download the report below to learn more.
Interactive Digital Media (IDM)
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