The industry of IT and ITES in Philippines has grown more effectively with the effective developments in the technology and techniques of working. Not only has this, in the present era, the primary verticals/segment of ITES segment in this region involve software improvement and publishing, BPO, call centers, production, animation and sales of the hardware components. Furthermore, the players of this market are dominating the highest value of market share with the effective adoption of new and profitable strategies and policies for increasing the demand and efficiency of the product which further become profitable for leading the fastest market growth during the forecasted period more significantly.
The growth is majorly fueled by growing FDI from the foreign players and multiple employment opportunities obtainable for the Filipinos. The industry has presented enormous growth rate in the terms of revenue. According to the report analysis, ‘Global Pre-Shipment Inspection Market Industry Trends and Forecast to 2026’ states that there are several key players which are recently functioning in this market more actively for dominating the fastest market growth and acquiring the handsome amount of share in the region with the more technological advancement and developments in the techniques of doing work includes Hardware Market (Samsung, Acer, Apple, Asus, Lenovo, Others), IT-BPO Market (Accenture, Convergys, JPMorgan, 24/7 Customer Philippines, TelephilippinesInc, Others), Software Market (IBM, Accenture, Others), Antivirus Market (Trend Micro, Symantec, ESET, Avast, Kaspersky, Sophos, several others. Moreover, many of the focused players of this market are benefitted with the strategies of joint ventures, mergers and acquisitions and partnership for generating the high amount of revenue and profit.
Additionally, the market of IT in Philippines is segmented into different segments which majorly involve hardware market, IT-BPO market, Software market and Antivirus market. In hardware market, accordance with the International Data Corporation, IT spending in Philippines was experienced to be extremely skewed towards hardware components. Majority of the IT spend by association aimed on the purchase devices such as PC, laptops, smart phones, tablets and others. Over the forecast period of 2018-2023, the country’s hardware market revenues are further expected to grow owing to potential increase in the overall sales of computers and peripherals. Whereas, in the software market, over the past few decades, the software improvement in Philippines has become one of the more recognized sub-sectors of the country’s IT and IT-ES industry along with the existence of both domestic and international firms which are proficient of delivering services and products that match up with the stiff global standards.
Although, in the antivirus segment, the increasing concern for cyber security and anticipation of virus attacks have led various Filipino companies to implement total security solutions comprising of internet security, anti-spyware, malware, anti-virus and others. Not only has this, growing government spending on the country’s security with the setting up command and control centers and the installation of CCTV and IP cameras are anticipated to fuel the growth in the Philippines IT industry. Therefore, in the near future, it is anticipated that the market of IT in Philippines will increase more positively over the recent few years.
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Ankur Gupta, Head Marketing & Communications