Philippines ICT Market Size (2024 - 2029)

The market size of the Philippine ICT sector, which comprises both IT and Telecom markets, is expected to grow at a significant rate over the next five years, driven by increased spending on hardware and software services. This growth is fostered by the presence of global leaders in the market and the rising demand for ICT. The sector's expansion is further propelled by the launch of initiatives to support startups and the development of new hardware, software, and services. Despite the potential threat of cyberattacks, advancements in IT operations are expected to safeguard the market. The deployment of new technologies such as robotic process automation, big data, artificial intelligence, machine learning, blockchain, cloud computing, the internet of things, cybersecurity, and augmented/virtual reality are accelerating the market's growth, particularly in the wake of the COVID-19 epidemic.

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Market Size of Philippines ICT Industry

Philippines ICT Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 8.00 %
Market Concentration Medium

Major Players

Philippines ICT Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Philippines ICT Market Analysis

The Philippine ICT market revenue is expected to grow at a CAGR of 8.0% over the next five years. Global leaders like Accenture, Cisco Systems, Globe Telecom, IBM, and Dell Technologies dominate the Philippine ICT market. The ICT market across the country is growing rapidly due to increased spending on hardware and software services.

  • The ICT sector includes both the IT and Telecom markets. IT investments are growing, and the demand for the ICT market is expected to grow significantly over the next five years. According to the International Trade Administration, Philippine software and software service sales will reach USD 95 million by 2025.
  • According to Oracle, IT hiring activity in August 2022, the Philippines recorded a 7.23% share, an increase of 22.09% compared with July 2022. This indicates that the IT sector is growing.
  • For instance, in March 2022, Microsoft launched its Microsoft for Startups Founders Hub to empower startups' ambitions and fuel innovation to drive economic and societal progress for Asia and beyond. Such initiatives from the key players in the ICT market will help startup IT companies to enter the Philippine ICT market to develop new hardware, software, and services.
  • Cyberattacks are expected to continue to rise over the next five years. Advancements in IT operations will prevent the ICT market from cyberattacks. The cloud-based platform and enterprise software provide real-time data, creating greater value for the business, especially in providing remote access. For instance, Microsoft launched its new offering and expanded services for security under a new service category known as Microsoft Security Experts for large enterprises.
  • While the COVID-19 epidemic influenced the Philippine ICT market by deploying new technologies to increase efficiency, robotic process automation, big data, artificial intelligence, machine learning, blockchain, cloud computing, the internet of things, cybersecurity, and augmented/virtual reality are accelerating the growth of the Philippine ICT market.

Philippines ICT Industry Segmentation

The Philippine ICT market includes deep analysis of key technology investments such as cloud technologies and artificial intelligence.

The Philippine ICT market is segmented by type (hardware, software, IT services, and telecommunication services), size of enterprise (small and medium enterprise and large enterprise), and industry vertical (BFSI, IT & Telecom, government, retail, and e-commerce, manufacturing, energy and utilities, and other industry vertical). The market sizes and forecasts are provided in terms of value in USD million for all the above segments.

By Type
Hardware
Software
IT Services
Telecommunication Services
By Size of Enterprise
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 Size Summary

The Philippine ICT market, encompassing both the IT and Telecom sectors, is witnessing rapid growth due to increased spending on hardware and software services. Major global players such as Accenture, Cisco Systems, Globe Telecom, IBM, and Dell Technologies dominate this market. The demand for ICT is projected to significantly rise over the next five years, with software and software service sales predicted to experience substantial growth. The IT sector is also expanding, as indicated by the increased IT hiring activity. Key initiatives from major players in the ICT market are helping startups enter the market and develop new hardware, software, and services. The ICT industry in the Philippines is being driven by significant growth in private and public investment, increased consumer spending, and the demand for cloud services. The need for greater agility and flexibility in IT infrastructure is leading to the adoption of cloud technology. Key players are spending more on system infrastructure maintenance and investing in development, modernization, and enhancement projects. The region's globalization and the growing need to adopt advanced technologies such as Cloud, IoT, and artificial intelligence are boosting the market's growth. The telecom industry's growth is primarily due to the rising adoption of mobile phones that support 3G, 4G, and 5G services across the country. This growth is expected to bring new opportunities for the ICT market.

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Philippines ICT Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Stakeholder Analysis

    3. 1.3 Industry Attractiveness-Porter's Five Force Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Hardware

      2. 2.1.2 Software

      3. 2.1.3 IT Services

      4. 2.1.4 Telecommunication Services

    2. 2.2 By Size of Enterprise

      1. 2.2.1 Small and Medium Enterprises

      2. 2.2.2 Large Enterprises

    3. 2.3 By Industry Vertical

      1. 2.3.1 BFSI

      2. 2.3.2 IT and Telecom

      3. 2.3.3 Government

      4. 2.3.4 Retail and E-commerce

      5. 2.3.5 Manufacturing

      6. 2.3.6 Energy and Utilities

      7. 2.3.7 Other Industry Verticals

Philippines ICT Market Size FAQs

The Philippines ICT Market is projected to register a CAGR of 8% during the forecast period (2024-2029)

Accenture, Cisco Systems, Globe Telecom, IBM and Dell Technologies are the major companies operating in the Philippines ICT Market.

Philippines ICT Report Snapshots

Philippines ICT Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)