
Study Period | 2019 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Size (2025) | USD 28.13 Billion |
Market Size (2030) | USD 51.55 Billion |
CAGR (2025 - 2030) | 12.88 % |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Philippines ICT Market Analysis
The Philippines ICT Market size is estimated at USD 28.13 billion in 2025, and is expected to reach USD 51.55 billion by 2030, at a CAGR of 12.88% during the forecast period (2025-2030).
- The Philippines' Information and Communications Technology (ICT) sector is emerging as a key driver of economic growth, fueled by robust investments, escalating demand for cloud services, and strategic government initiatives. Both private and public stakeholders have significantly increased their investments in ICT infrastructure and services. In 2024, the Board of Investments reported a record-breaking PHP 1.16 trillion (USD 0.02 trillion) in investment approvals, reflecting a 59% growth compared to 2022. The ICT sector contributed substantially to this achievement, with approvals amounting to PHP 96.16 billion (USD 1.65 billion).
- The Philippine government has prioritized digital transformation in its agenda, prioritizing investments in broadband infrastructure and implementing policies that support ICT development. These measures aim to enhance connectivity and drive the widespread adoption of digital services nationwide.
- Cloud adoption is rapidly transforming the business landscape in the Philippines, with organizations increasingly recognizing its strategic importance. A survey titled "The Next-Generation Cloud Strategy in Asia," commissioned by Alibaba Cloud, the digital technology and intelligence division of Alibaba Group, reveals that 85% of Philippine businesses plan to execute a full-scale migration to the cloud within the next two years. Over 91% of these businesses will also increase their cloud-related investments in the coming years.
- The Philippines has demonstrated remarkable progress in digital transformation, advancing 16 positions in the United Nations E-Government Development Index, from 89th in 2022 to 73rd in 2024. This achievement is largely attributed to the country’s strategic adoption of centralized cloud services and targeted efforts to eliminate inefficiencies. Spearheading this transformation is the Department of Information and Communications Technology (DICT), which manages the technology requirements of over 600 national government agencies and supports 1,700 local government units.
- By aligning agency goals and synchronizing ICT budgets, the DICT ensures a cohesive approach that reduces redundancies and accelerates digitization. A cornerstone of this initiative is the DICT's cloud-first policy, which encourages agencies to transition to cloud computing, moving away from outdated, siloed systems that have historically caused manual processes and lengthy transactions.
- However, cyberattacks are expected to continue to rise over the next five years. Advancements in IT operations are expected to prevent cyberattacks in the ICT market. The cloud-based platform and enterprise software provide real-time data, creating greater value for the business, especially in providing remote access. Over the past few years, in the Philippines, Microsoft has launched new offerings and expanded its security services under a new category known as Microsoft Security Experts for large enterprises.
Philippines ICT Market Trends
Small and Medium Enterprises segment to Gain Significant Traction Over the Forecast Period
- The Information and Communications Technology (ICT) sector in the Philippines is witnessing robust growth, driven in large part by the dynamic expansion of Small and Medium Enterprises (SMEs). These enterprises are leveraging ICT to transform their operations, enhance competitiveness, and contribute significantly to the sector's development.
- The Philippines business environment in 2023 reflects a dynamic and diverse ecosystem, as highlighted by the Philippine Statistics Authority (PSA) in its List of Establishments (LE). The report identifies a total of 1,246,373 business establishments operating across the country. Notably, micro, small, and medium enterprises (MSMEs) dominate the market, representing 99.63% (1,241,733) of the total, while large enterprises account for only 0.37% (4,640). Micro enterprises lead this segment, constituting 90.43% (1,127,058) of all establishments, followed by small enterprises at 8.82% (109,912) and medium enterprises at 0.38% (4,763). These figures emphasize the pivotal role of MSMEs in shaping the nation’s economic framework and fostering employment opportunities.
- Digital Transformation Initiatives: Philippine SMEs are increasingly recognizing the strategic importance of digitalization in achieving operational excellence. By integrating ICT solutions into their workflows, these businesses are improving efficiency, strengthening customer engagement, and expanding their market presence. This growing reliance on ICT solutions is fueling demand for a wide range of products and services within the sector.
- Innovation and Competitiveness: The adoption of advanced digital tools is enabling SMEs to innovate and maintain a competitive edge in the market. ICT integration allows these enterprises to optimize processes, reduce operational costs, and deliver superior products or services. This, in turn, is driving the overall progress of the ICT sector in the country.
- The Philippine government plays a pivotal role in this transformation by actively promoting digitalization among SMEs. Through targeted initiatives and supportive policies, the government is facilitating easier access to ICT resources, training programs, and digital tools. This support is integrating SMEs more deeply into the digital economy and strengthening the ICT sector's foundation.
- In conclusion, the proactive digital transformation of SMEs, combined with the Philippine government's unwavering support, is emerging as a critical driver of growth for the ICT sector. This synergy between enterprise innovation and policy backing is shaping a vibrant and competitive digital landscape in the Philippines.

BFSI Segment is Expected to Gain Significant Traction Over the Forecast Period
- The BFSI sector for the Philippines ICT Market includes banking, insurance, and other financial enterprises in the country adopting and implementing ICT solutions and services for their business transformations and service enhancements. These include ICT products, software, IT, and telecom services used in online banking, digital payments, Customer Relationship Management (CRM) in banks, automation in Know Your Customer (KYC) verification, AI-based transaction monitoring, etc.
- The Bangko Sentral ng Pilipinas (BSP) continues to lead the digital transformation of the Philippines' financial landscape, achieving remarkable progress in recent years. Through its Digital Payments Transformation Roadmap 2020-2023, BSP successfully met its objectives of digitizing 50% of retail transactions and onboarding 70% of Filipino adults into the financial system by the end of 2023. These efforts have significantly broadened access to secure and reliable financial services for millions of Filipinos, fostering greater financial inclusion.
- Building on this momentum, BSP's 2024-2026 roadmap is set to enhance financial connectivity and inclusion further. Key initiatives such as Open Finance and Project Nexus are designed to strengthen cross-border payment interoperability across ASEAN, facilitating seamless regional transactions. Complementing these efforts, programs like Paleng-QR Ph and Bills Pay Ph are embedding digital payments into everyday activities, ensuring that businesses and individuals benefit from digital financial solutions' convenience and efficiency.
- One of the standout initiatives in this digital transformation journey is the Paleng-QR PH program, which has successfully introduced digital payment systems in public markets. As of September 2024, 132 local government units (LGUs) have adopted the program, reflecting its growing reach and impact. President Marcos highlighted the significance of Paleng-QR PH during his State of the Nation Address, emphasizing its role in reshaping Filipinos’ daily financial interactions and driving the adoption of digital payments at the grassroots level.
- In parallel, BSP is addressing the need for financial literacy by launching the BSP E-Learning Academy (BELA). Scheduled to be fully operational by mid-2025, BELA is designed to provide nationwide access to financial education, offering personal finance and economics courses. This initiative aims to empower individuals with the knowledge and skills to make informed financial decisions in an increasingly digital economy.

Philippines ICT Industry Overview
The Philippines ICT market is fragmented, with many players operating in it. Several key players in the ICT market are constantly making efforts to bring advancements. A few prominent companies are entering into collaborations and expanding their footprints in developing regions to consolidate their positions in the market. Major market players include Accenture PLC, Cisco Systems, Globe Telecom, and IBM Corporation.
These trends such as AI and Machine Learning expansion, IoT, increased mobile and broadband subscribers, and others are driven by a combination of innovation, investment, and a growing demand for digital transformation in the Philippines. The growth in the telecom industry is attributed to the increasing population and the rising adoption of mobile phones supporting 3G, 4G, and 5G services. Government-backed initiatives, such as the establishment of cloud data centers and smart city projects, are also contributing to the ICT market's expansion.
Philippines ICT Market Leaders
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Accenture plc
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Globe Telecom, Inc.
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IBM Corporation
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Cisco Systems, Inc.
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Oracle Corporation
- *Disclaimer: Major Players sorted in no particular order

Philippines ICT Market News
- May 2024: Fujitsu unveiled its first Digital Innovation Hub in Southeast Asia. This move is expected to empower Philippine organizations by granting them direct access to technology specialists and a cutting-edge digital facility. The new innovation hub enables businesses to learn about digital trends and co-create solutions using human-centric design.
- April 2024: PLDT Inc. and Smart Communications Inc. in the Philippines elevated their cloud endeavors by launching the Cloud Center of Excellence (CCOE). This strategic step is designed to cultivate a workforce that is more customer-centric and well-equipped for the future. The CCOE stands at the core of the organizational strategy, leveraging cloud technology to boost efficiency, agility, and innovation. It is instrumental in bolstering workforce flexibility, facilitating swift resource scaling, and promoting collaboration via agile methodologies and DevOps practices.
Philippines ICT Industry Segmentation
The Philippines ICT market tracks revenue accrued through the sale of ICT offerings, including IT hardware, IT software, IT services, IT infrastructure, and communication services that are being used in various end-user industries across the country.
The Philippine ICT market is segmented by type (IT hardware (computer hardware, networking equipment, peripherals), IT software, IT services (managed services, business process services, business consulting services, cloud services), IT infrastructure/data centers (colocation data centers, data center storage, data center servers, data center compute), IT security/cybersecurity (application security, cloud security, data security, identity and access management, infrastructure protection, integrated risk management, network security equipment, endpoint security), and communication services), size of enterprise (small and medium enterprises and large enterprises), and industry vertical (BFSI, IT & telecom, government, retail and e-commerce, manufacturing, energy and utilities, and other industry verticals). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Type | IT Hardware | Computer Hardware | |
Networking Equipment | |||
Peripherals | |||
IT Software | |||
IT Services | Managed Services | ||
Business Process Services | |||
Business Consulting Services | |||
Cloud Services | |||
IT Infrastructure/Data Centers | Colocation Data Centers | ||
Data Center Storage | |||
Data Center Servers | |||
Data Center Compute | |||
IT Security/ Cybersecurity | Application Security | ||
Cloud Security | |||
Data Security | |||
Identity and Access Management | |||
Infrastructure Protection | |||
Integrated Risk Management | |||
Network Security Equipment | |||
Endpoint Security | |||
By Organization Size | Small and Medium Enterprises | ||
Large Enterprises | |||
By Industry Vertical | BFSI | ||
IT and Telecom | |||
Government | |||
Retail and E-commerce | |||
Manufacturing | |||
Energy and Utilities | |||
Other Industry Verticals |
Philippines ICT Market Research Faqs
How big is the Philippines ICT Market?
The Philippines ICT Market size is expected to reach USD 28.13 billion in 2025 and grow at a CAGR of 12.88% to reach USD 51.55 billion by 2030.
What is the current Philippines ICT Market size?
In 2025, the Philippines ICT Market size is expected to reach USD 28.13 billion.
Who are the key players in Philippines ICT Market?
Accenture plc, Globe Telecom, Inc., IBM Corporation, Cisco Systems, Inc. and Oracle Corporation are the major companies operating in the Philippines ICT Market.
What years does this Philippines ICT Market cover, and what was the market size in 2024?
In 2024, the Philippines ICT Market size was estimated at USD 24.51 billion. The report covers the Philippines ICT Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Philippines ICT Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Philippines ICT Industry Report
The ICT market in the Philippines is experiencing robust growth, fueled by increased investments in technology and a rising demand for digital services. As a significant player in Southeast Asia, the country is seeing advancements in hardware, software, IT services, and telecommunications. Key sectors like retail, manufacturing, and government are driving the market's expansion, with retail leading in market share and government poised for rapid growth due to digital transformation initiatives. Emerging technologies such as artificial intelligence, cloud computing, and the Internet of Things are propelling the industry forward, offering numerous opportunities for stakeholders and investors. This dynamic environment benefits existing and new information technology companies in the Philippines. For detailed insights, Mordor Intelligence™ provides comprehensive reports on the Philippines' ICT market share, size, and growth, available for download as a free report PDF, essential for anyone involved in the ICT industry in the Philippines.