IT Industry Outlook In the Philippines 2021

In the future, the Philippines' information technology is expected to be one of the developing markets, necessitating hardware, software, and other IT services. IT technology is employed in libraries, hospitals, banks, stores, jails, hotels, airports, train stations, and other places through database management.

Eclectus Technologies®

Growth and Forecast 

In 2020, the IT-BPM industry grew by 1.4 percent to 1.8 percent; however, growth is likely to speed up again in 2021 and 2022, with digital transformation driving much of it. Big Data and Analytics (BDA), Internet-of-Things (IoT), Automation and Artificial Intelligence (AI), and Cloud Computing are among the major Business 4.0 developments, all of which rely significantly on the IT-BPM industry. The Philippines is creating the groundwork to stay up with quickly changing times and increase its technology adoption and competitiveness by developing the AI Roadmap. In 2020, IT Services, Contact Centers and BPOs, and Animation all saw declines, while Global In-house Centers and Healthcare Services saw modest improvements, albeit growth rates will be lower than in 2019 owing to COVID-19. 

In the forecast term, increasing software AI and automation, usage of Data Analytics in end-user enterprises, as well as the breadth and promise of the global information technology industry, are all expected to grow significantly. Acquisitions in the IT business have had a substantial influence on the industry's growth during the previous decade. 

What it Means For Other Industries 

The technical industry is undergoing a significant transformation in terms of acquisitions and investments. Social media networking platforms are providing prospects for information technology innovation. Companies have expanded their operations, developed greater expertise, and increased revenue as a result of acquisitions in the industry. 

The Philippines is the largest offshore-nearshore site for healthcare services delivery, and the category is likely to continue to develop, owing to rising worldwide demand, particularly in light of COVID-19. The game development sector in the Philippines is likewise on the verge of a boom. As indigenous enterprises take advantage of global video game industry prospects, the local sector continues to flourish, with an enlarged market share and breadth of services. As a result, there's a growing chance that the next blockbuster video game may have a Filipino influence. 

The country's industrial and service industries are powered by the information technology and software development industry. This industry contributes significantly to the improvement of the corporate environment, increased production and efficiency, and improved customer satisfaction. As a result, the Philippine government has gone above and beyond to ensure that these industries continue to thrive as the country prepares to jump into Industry 4.0. 

Industry Spending 

The Philippines' IT spending will be bolstered by private and government consumption. Because of their enormous potential for industrial growth, cloud computing and the Internet of Things are critical for market expansion in the medium future. The IT software and service component of the business has grown at the quickest rate in the last decade, aided by significant government assistance. Furthermore, the Philippines' market demand is being driven by widespread computer use, increasing internet access, and increased internet penetration. According to information technology market research, the rivalry is becoming more intense year after year as new applications and product portfolios emerge. 

COVID 19 

By the fourth quarter, the Philippine IT-BPM sector had already begun to show signs of recovery. In the latter half of the year, there was also a noticeable increase in IT Outsourcing (ITO) projects as customers spent more in digitalization to minimize prevalent challenges created by the epidemic and to improve their Business Continuity Plans (BCPs). While certain businesses are particularly hard hit by the pandemic, like as travel, hospitality, and tourism, IT-BPM enterprises are hiring in areas like healthcare, e-commerce, telecommunications, and logistics. Financial (e.g., fintech, insurance, financial administration), gaming, and animation are all growing in popularity, which is good news for the IT-BPM business. In addition, international and worldwide corporations will consider outsourcing or offshoring more of their activities to save money, which might boost the local economy. 

For more informative articles like this, make sure to subscribe to our newsletter! 

Keep Reading

Filter
  • All
  • Capataz
  • Ecommerce
  • ETI Article
  • News

NEWS

On February of 2022, Eclectus Technologies® launched its first-ever Internship Program. Eclectus Technologies® is determined that by giving graduating students internship opportunities, we can mold and prepare the next generation of IT professionals. The purpose of this internship program is to get the next generation ready for the digital revolution. They ...

by Eclectus Technologies®

UNCATEGORIZED

Sooner or later the COVID-19 Pandemic will end – and this does not mean that we will be able to completely eradicate COVID-19 for all time, just that sooner or later the science, medicine and public policies combined will catch up with the constant mutations and evolution of the virus that ...

by Eclectus Technologies®

UNCATEGORIZED

Thanks to the consumer behavior of Filipinos and the logistical problem presented by most business brought about by the Pandemic, the Philippine logistics and trucking sector is expected to increase 8.2 to 8.8 percent between 2018 and 2024, according to The Lobien Realty Group (2020). By 2023, it is expected to be worth PHP 1 trillion.

by Eclectus Technologies®

UNCATEGORIZED

New year, new opportunities to apply what we have learned the previous year to improve the way we do work! HR executives must reconsider workforce and employee strategy, management, performance, and engagement methods as the pandemic reset important work trends. For those executives, the task now is to examine the ...

by Eclectus Technologies®

1 2 3 4

Let’s get Started

Tell us your challenges; we will provide you solutions custom-fit to your needs.
This image has an empty alt attribute; its file name is star_purple500_24px.png
This image has an empty alt attribute; its file name is star_purple500_24px.png
This image has an empty alt attribute; its file name is star_purple500_24px.png
This image has an empty alt attribute; its file name is star_purple500_24px.png
This image has an empty alt attribute; its file name is star_purple500_24px.png
"Through tedious strategic planning and execution, Eclectus Technologies® was able to address our problems brought about by the current global pandemic by providing an all-in-one ecommerce, order fulfillment, and courier solution through "DF Delivers" web portal and mobile app - in just a few months.”

Dizon Farms

Close Bitnami banner
Bitnami