Singapore leads Asia Pacific in terms of its readiness to integrate, develop and benefit from application usage.
Australia, South Korea, Japan and Hong Kong make up the rest of the top half of the top 10 rankings, while Malaysia, China, Thailand, India and Indonesia made up the remainder of the list, according to the Asia Pacific Application Economy Index (AEI) 2016.
The study - developed and commissioned by CA Technologies, and carried out by research consulting firm TRPC - found that Singapore’s ranking was boosted with its top placings for government use of technology, strength of intellectual property protection and innovation.
The country’s ranking was also lifted by strong numbers for business agility, with lead scores in the time taken to set up a business, debit card penetration and mobile payments readiness.
However, Singapore’s cybersecurity strength was an outlier where it ranked 6th, suggesting that this area requires more attention.
“Singapore’s leadership position is unsurprising, given its consistently high scores across all categories, especially in the government use and support of technology is especially strong,” CA Technologies vice president for Asia South Nick Lim said.
“While Singapore is in good stead to thrive in the application economy, dynamic socio-economic conditions in the region will create unique opportunities in emerging markets, so businesses will find it more critical than ever to harness software to stay competitive and relevant in a fast changing world.”
“Regardless of whether they are in the disruptors, challengers or mainstream group, markets will still need to focus on creating conditions for businesses to thrive in the application economy. They can do so by continuing to do well in their key success characteristics, while mitigating current and potential weaknesses,” TRPC managing director May-Ann Lim addede.