Philippines Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Philippines Enterprise ICT Market Overview
The Philippines Enterprise ICT Country Intelligence Report, a new Country Intelligence Report by GlobalData, summarizes key findings from GlobalData’s ICT Customer Insight Survey carried out in H1-2023 and GlobalData’s Market Opportunity Forecasts to 2027: Philippines. It reveals an executive-level overview of how the overall ICT budgets and their allocations towards various segments have changed for enterprises in the country in 2023 compared to 2022 and ICT revenue opportunity with detailed forecasts of key indicators up to 2027. The report provides a detailed analysis of the overall Philippines’ enterprise ICT market trends and growth drivers based on GlobalData’s ICT Customer Insight Survey and GlobalData’s Market Opportunity Forecasts.
Annual change in Enterprise ICT budget allocation in the Philippines (2021-22 vs. 2022-23)
Buy The Full Report To Gain More Information On The Philippines Enterprise ICT Customer Survey Insights, Download A Free Sample
The report also discusses the market growth inhibitors impacting the Philippines’ overall ICT market. It sheds focus on enterprise ICT budget allocations and ICT revenue opportunities covering 18 solution areas, segmental analysis, and vertical analysis, as well as a review of key macroeconomic and regulatory trends, and government initiatives. The report also includes a brief profile of some of the key ICT vendors within the country.
Market Size 2022 | >$20 billion |
CAGR | >10% |
Forecast Period | 2022-2027 |
Enterprise ICT Budget Allocation Analysis Period | 2022-2023 |
ICT Segment | Hardware, Software, Services |
ICT Solution Areas | Cloud Computing, IoT, Communications and Collaboration, Client Computing, Consulting & Integration Services, Networking, Business Process Outsourcing, Application Development and Management, Business Process Applications, IT Management, Security, Storage, Data and Analytics, Servers, Data Center & Hosting, Artificial Intelligence, Mobility, Edge Computing |
Key End-use Verticals | BFSI, Retail, Manufacturing, Consumer Goods, Construction |
Enterprise Size Band | Micro (<50), Small (51-250), Medium (251-1,000), Large (1,001-4,999) and Very Large (5,000+) |
Key Digital Transformation Areas | Artificial Intelligence & Machine Learning, Automation/RPA, IoT, Edge Computing and Others |
Enterprise Technology Priorities and Spending Preferences | Business Process Outsourcing, Networking, IoT, Client Computing, Communication and Collaboration |
Companies Mentioned | Globe, Microsoft, Converge ICT, IBM and others |
GlobalData’s ICT customer insight survey reveals a positive outlook for enterprise ICT spending in the Philippines, with a majority of respondents, more than 89% from the country, claiming that there has been an increase in the enterprise ICT budget in 2023 compared to 2022. This is over 25 percentage points (p.p.) higher than the percentage who claim that there was an increase in their ICT budget in 2022-23 compared to 2021-22. This upward trend is paving the way for a promising opportunity for optimistic growth in ICT revenue. The rise in investment signifies enterprises’ willingness to allocate a budget towards technological advancements.
The Philippines overall ICT market was pegged at over $20.6 billion in 2022 and is expected to grow at a CAGR of more than 10% during 2022-2027 to reach over $33.9 billion in 2027, driven by substantial increases in both private and public investment, heightened need for enhanced digital services, establishment of cloud data center, development of software to enhance business processes, and transformation of local government units to smart cities.
The Philippines Total ICT Revenue Opportunity, 2022-2027 ($Billion)
Buy The Full Report To Gain More Information On The Philippines Enterprise ICT Revenue Opportunity, Download A Free Sample
Philippines Enterprise ICT Market Regulatory Highlights
- Free Wi-Fi for All,
- AmBisyon Natin 2040 & The Philippine Development Plan (PDP),
- Philippine Open Government Partnership (PH-OGP),
- Cybercrime Prevention Act of 2012, etc.
Philippines Enterprise ICT Revenue Opportunity – Segment Analysis
GlobalData’s survey findings suggest that the enterprise ICT budget allocations across all ‘services’ categories in the Philippines have increased in 2023 compared to 2022. More than 79% of respondents confirmed an increase in their enterprise ICT budget for overall ‘services’ in 2023 compared to 2022.
Annual Change in Distribution of Enterprise ICT Spending, By ICT Products/Services in 2023
Buy The Full Report For More Insights On ICT Segmental Investment In The Philippines, Download A Free Sample
According to GlobalData, the Philippines’ ICT market would see majority share of its revenue come from the IT services segment over the forecast period. The report also discusses the enterprise ICT revenue opportunity across IT software and IT hardware segments over the forecast period.
- IT Services
- IT Software
- IT Hardware
Philippines Total ICT Revenue Opportunity, by Segment 2022 (%)
Buy The Full Report For More Insights To The Philippines ICT Revenue Opportunity By Segment, Download A Free Sample
The Philippines Enterprise ICT Market Dynamics – Drivers, Trends and Challenges
Buy The Full Report To Gain More Information On To The Philippines ICT Market Dynamics, Download A Free Sample
The Philippines Enterprise ICT Market by Infrastructure Segments – Services, Software, and Hardware
IT Services – Segment Outlook
GlobalData’s survey findings suggests that the enterprise ICT budget allocations across all ‘services’ categories in the Philippines have increased in 2023 compared to 2022. More than 80% of respondents confirmed an increase in their enterprise ICT budget for overall ‘services’ in 2023 compared to 2022.
Annual Change in the Philippines Enterprise ICT Services Budget Allocations
Buy The Full Report For More Insights On Segment ICT Budget Allocation In The Philippines, Download A Free Sample
The ICT services market in the Philippines was pegged at over $13.3 billion in 2022 and is predicted to grow at a CAGR of more than 9% over 2022-2027 to reach over $21 billion in 2027. The growth of the ICT services market in the country is largely driven by a surge in digital transformation initiatives across industries. Government initiatives promoting ICT adoption such as national ICT strategy and national AI roadmap, coupled with the rapid advancement of emerging technologies like cloud and AI are propelling the demand.
The Philippines Total ICT Revenue Opportunity, by ICT services ($billions) 2022-2027
Buy The Full Report For More Insights To The Philippines ICT Services Revenue Opportunity Market, Download A Free Sample
The Philippines enterprise ICT country intelligence report offers ICT revenue market indicators across the following IT services solution areas:
- Business Process Outsourcing (BPO) Services
- Networking services
- Cloud Computing services
- Consulting & Integration services
- Communications and Collaboration (C&C) services
- Application Development and Management (ADM) services
- Client Computing services
- Internet of Things (IoT) services
- Data center and hosting services
- Security services
- Storage services
- Mobility services
- Servers services
- Artificial Intelligence Services
- Edge computing services
The Philippines Enterprise ICT Technology Revenue Opportunity and Spending Priorities – Key Solution Areas
BPO is the most attractive market in the Philippines, backed by the government’s support and a skilled workforce in Western-accented English. The revenue opportunity for BPO in the Philippines was pegged at over $2.9 billion in 2022 and is estimated to grow at a CAGR of more than 9%. A wide array of advantages is provided to investors in the Philippine BPO sector, including tax holidays, exemptions from import taxes on equipment, streamlined import procedures, and the ability to hire international workers.
The Philippines Total ICT Revenue Opportunity, by Solution Areas 2022 (%)
Buy The Full Report For More Insights To The Philippines’ Key ICT Solution Areas Revenue Opportunity Market, Download A Free Sample
The Philippines BPO Investment Priority – Now vs Next Two Years
The Philippines has a strong presence in the BPO industry, particularly in customer service, financial service, and back-office support services. This was validated by GlobalData’s survey, where over 86% claimed that their enterprises have already invested in BPO, while around 81% indicated their enterprises would invest in BPO in the next two years.
Business Process Outsourcing Investment Priority – Current vs Next Two Years
Buy The Full Report For More Insights On The Philippines’s Enterprise Cloud Budget Allocation, Download A Free Sample
The Philippines Enterprise ICT Technology Revenue Opportunity – Key Verticals
The BFSI sector is the largest independent end-use vertical segment for the ICT market in the Philippines in terms of revenue contribution, through 2022 to 2027. ICT revenue from the BFSI sector reached over $2.7 billion in 2022 and is set to grow at a CAGR of over 10% between 2022-2027. The segment is set to account for a 47.2% share of the total cumulative revenue forecasted for the overall ICT market in the Philippines for 2022-2027.
The Philippines Total ICT Revenue Opportunity, by Verticals 2022 (%)
Buy The Full Report To Gain More Information On The Philippines Enterprise ICT Revenue Opportunity By Verticals, Download A Free Sample
The Philippines Enterprise ICT Revenue Opportunity by Enterprise Size Band
Large enterprises (i.e., large and very large) accounted for $10.3 billion – i.e., 50.3% of total the Philippines’ ICT revenue – in 2022 and is estimated to reach $16.2 billion by 2027. Due to their sound financial standing, large organizations are placing more emphasis on R&D and adopting a wide range of ICT products and services including cloud computing, AI/ML, and big data analytics.
The Philippines Total ICT Revenue Opportunity ($billions) by Enterprise Size Band
Buy The Full Report To Gain More Information On The Philippines Enterprise ICT Revenue Opportunity By Enterprise Size Band, Download A Free Sample
Scope
The country intelligence report provides an in-depth analysis of the following –
- The macroeconomic and regulatory context and government initiatives in the Philippines.
- Enterprise ICT market outlook: analysis as well as historical figures and forecasts of revenue opportunities from ICT segments, ICT solution areas, end-use verticals, and enterprise size bands.
- Enterprise ICT Budget Allocations – 2022 vs 2023: Overview of survey findings regarding changes in the overall enterprise ICT budget allocations in 2023 compared to the previous year and across ICT segments, ICT solution areas, existing vs new IT projects.
- Enterprise ICT growth drivers, market trends and challenges
- IT hardware segment revenue and budget allocations outlook: analysis as well as historical figures and forecasts of revenue opportunities from ICT hardware solution areas and budget allocations by ICT hardware categories.
- IT software segment revenue and budget allocations outlook: analysis as well as historical figures and forecasts of revenue opportunities from ICT software solution areas and budget allocations by ICT software categories.
- IT hardware segment revenue and budget allocations outlook: analysis as well as historical figures and forecasts of revenue opportunities from ICT services solution areas and budget allocations by ICT services categories.
- Enterprise Technology Priorities: Overview of survey findings on enterprise investment priority for key solution areas in current vs next two years.
- Company landscape: analysis of the market position of leading ICT providers in the Philippines market.
- Underlying assumptions behind our published base-case forecasts, as well as potential market developments that would alter, either positively or negatively, our base-case outlook.
- The survey was conducted in H1 2023 via an online methodology, with respondents all having ICT decision maker responsibility (typically CIOs and IT Managers). GlobalData plans to repeat the survey in H1 2024, to monitor ICT budget changes on an ongoing basis.
Reasons to Buy
- This Country Intelligence Report is based on GlobalData’s IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises across various industry verticals in the Philippines and GlobalData’s Market Opportunity Forecasts to 2027, to offer a thorough, forward-looking analysis of the Philippines’ enterprise ICT investment priorities and ICT revenue opportunity market.
- Accompanying GlobalData’s IT Customer Insight Survey and Market Opportunity Forecasts to 2027, the report examines the assumptions and drivers behind ongoing and upcoming trends in the Philippines enterprise ICT market.
- The report offers a thorough analysis of enterprise ICT investment trends and how it has changed this year compared to previous year.
- The report also presents an analysis of enterprise ICT budget allocations by various spending areas, business functions and product/service categories and how they have changed this year compared to previous years.
- The report also presents an analysis of enterprise ICT revenue opportunity by various solution areas, enterprise size band, end-use verticals, and segment over the forecast period 2022-2027.
- With more than 50 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
- The report provides insights in a concise format to help executives build proactive and profitable growth strategies.
- The report provides an easily digestible market assessment for decision-makers built around research gathered from the local IT decision makers, which enables executives to quickly get up to speed with the current and emerging trends in enterprise ICT investment priorities.
Table of Contents
Frequently asked questions
-
How did the overall enterprise ICT budget in the Philippines change in 2023 compared to 2022?
More than 89.7% of respondents from the Philippines claimed that there has been an increase in their enterprise ICT budget for 2022-23 compared to 2021-22.
-
What was the Philippines enterprise ICT revenue market size in 2022?
The enterprise ICT revenue market size in the Philippines was valued at over $20 billion in 2022.
-
What is the Philippines enterprise ICT revenue market growth rate?
The enterprise ICT revenue in Philippines is expected to grow at a CAGR of more than 10% during the forecast period 2022-2027.
-
What are the key ICT revenue market drivers in the Philippines?
BPO sector offers a promising opportunity for the Philippines’ ICT market along with acceleration in enterprise digital transformation are the key market drivers for the Philippines ICT revenue market growth.
-
What are the key ICT segments in the Philippines?
IT services, IT software and IT hardware segments are the key ICT segments in Philippines.
-
What are the key end-use verticals for ICT products/services in the Philippines?
BFSI, Retail, Manufacturing, Consumer Goods, and Construction are the key ICT end-use verticals for ICT products/services in Philippines.
-
What are the key ICT solution areas with investment priorities in the Philippines?
Business Process Outsourcing, Networking, IoT, Client Computing, Communication and Collaboration are the key ICT solution areas in the Philippines.
-
Which are the ICT companies mentioned in the Philippines enterprise ICT country intelligence report?
The companies mentioned in the Philippines enterprise ICT country intelligence report are Globe, Microsoft, Converge ICT, IBM, and others.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.