Philippines Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)

The Philippines Enterprise ICT Country Intelligence Report, a new Country Intelligence Report by the publisher, summarizes key findings from the ICT Customer Insight Survey carried out in H1-2023 and the publisher'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 detailed analysis of the overall Philippines' enterprise ICT market trends and growth drivers based on the publisher's ICT Customer Insight Survey and the publisher's Market Opportunity Forecasts. The report also discusses about the market growth inhibitors impacting the Philippines’ overall ICT market. Its sheds focus on enterprise ICT budget allocations and ICT revenue opportunity covering 18 solution areas, segmental analysis, vertical analysis, as well as review of key macroeconomic and regulatory trends, and government initiatives. The report also includes a brief profile on some of the key ICT vendors within the country.

The country intelligence provides information and insights into ICT budget allocations and ICT revenue opportunity by enterprises in the Philippines -

• Overall enterprise ICT revenue opportunity and ICT budget allocations for the Philippines
• Macroeconomic and regulatory context and government inititiaves
• Insights on the Philippines' enterprise ICT growth drivers and market trends, basis the publisher's ICT Customer Insight Survey and Market Oppotunity Forecasts to 2027
• Insights on market growth inhibitors impacting the Philippines' overall ICT market
• Breakdown of enterprise ICT revenue opportunity by solution areas, end-use verticals and enterprise size band
• Segmental analysis of the Philippines' enterprise ICT budget allocations and ICT revenue opportunity - hardware, software and services
• Insights on ICT technology spending priorities of enterprises on key solution areas in the Philippines
• Company snapshot

Scope

• ICT market growth in the Philippines will primarily be driven by a heightened need for enhanced digital services and the government-backed initiatives that lay immediate focus on crucial areas, including establishment of cloud data centers, development of software to enhance business processes, and enhancement of internet and mobile services, among others.
• The Philippines overall ICT market was pegged at $20.6 billion in 2022 and is expected to grow at a CAGR of 10.5% during 2022-2027 to reach $33.9 billion in 2027, due to its robust ICT infrastructure, enterprises reshaping and accelerating their digital transformation strategy, and thriving tech partnerships complemented by significant government initiatives like the Smart Nation Programme and the Digital Economy Framework.
• The ICT decision makers survey reveals a positive outlook for enterprise ICT spending in the Philippines, with a majority of respondents, about 89.7% from the country, claiming that there has been an increase in the enterprise ICT budget in 2023 compared to 2022.
• BPO can be regarded as the most attractive market in the Philippines driven by enterprises increasingly providing a wide range of services to global clients, including customer support, IT services, and financial services, among others. The revenue opportunity for BPO in the Philippines was pegged at $2.9 billion in 2022 and is estimated to grow at a CAGR of 9.5% between 2022-2027.
• The BFSI sector is the largest independent end-use vertical segment for the ICT market in the Philippines in terms of revenue contribution, and it will remain so over the forecast period. ICT revenue from the BFSI sector reached $2.7 billion in 2022 and is set to grow up to $4.5 billion in 2027 at a CAGR of 10.6%.

Reasons to Buy

• This Country Intelligence Report is based on the publisher's IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises across various industry verticals in the Philippines and the publisher's Market Opportunity Forecasts to 2027, to offer a thorough, forward-looking analysis of Philippines’s enterprise ICT investment priorities and ICT revenue opportunity market.
• Accompanying the publisher'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.