Spending for information and communications technology (ICT) in the Philippines is projected to rise, as local companies plan to increase spending by 10.1 percent year-on-year, according to international market research group International Data Corp. (IDC). The so-called 3rd Platform composed of the cloud, mobility, big data, and social business will drive increased spending in the Philippine ICT industry in 2015. Companies looking for new ways to engage consumers will adopt third platform technologies that will in turn boost spending in ICT.
IDC Philippines country head Jubert Daniel Alberto said increased spending is a "healthy sign" for the country. Organizations and businesses in the Philippines will also ramp on innovation efforts with newer technologies, starting with integrating 3-D printing, and minimum level of Internet of Things into their business processes, and supporting these with better security and interfaces.
Alberto added that challenges like natural disasters will be "short-term only," and growing demand from small and medium-sized enterprises (SMEs) will continue to support the Philippine ICT industry. IDC said the local telecoms sector is also set to grow by 4.7 percent this year. Affordable and ubiquitous smartphones are one of the key growth drivers, with operators upgrading telecoms coverage and networks.
An IDC market analyst advised companies to expand partnerships to include applications, analytics, connectivity, security and platforms and not be limited by devices and sensors. IDC cautioned that while activity will increase due to opportunities in the sector, companies will have to study the challenges on the road to turning it into a long-term business model.