Philippines ICT Market Report and Forecast 2025-2034

The Philippines ICT market reached approximately USD 16.68 Billion in 2024. The market is projected to grow at a CAGR of 8.00% between 2025 and 2034 to reach a value of around USD 36.01 Billion by 2034.

Philippines ICT Market Growth

The increasing internet provisions in the country is a key driver of this market. The availability of the internet is fundamental for being able to harness the potential of ICT. Things such as e-commerce, e-governance, social media, content consumption and gaming are only possible through the availability of Internet access. As per industry reports in 2022, people in this country between the ages of 16 and 64 used the internet for an average of 10 hours and 27 minutes every day. The Philippines has the largest population of social media users in the world, and its people spend a lot of time online.

The growing number of digital devices in the country is another contributor to the market. According to the Philippines Statistics Authority, the digital economy in 2023 amounted to USD 35 billion and contributed 8.4% to the country's Gross Domestic Product. The increase in the number of digital devices has significantly propelled the market because the extensive availability of devices enables people to efficiently make use of the existing and upcoming ICT technologies.

Government investment in broadband infrastructure and support is a major driving factor for the ICT market in the Philippines. According to the global eGovernment rating, the Philippines is ranked 95th. Under the "Free Public Internet Access Program," people can use free Wi-Fi. An additional program aimed at achieving the UN Millennium Development Goal of universal access to ICT is "DOST-ICTO." By creating community centres known as "CeCs," the DOST-ICTO aims to employ ICT to promote growth and development in the Philippines. These centres cater to the diverse ICT requirements of individuals, providing each community with alternate modes of instruction and skill development.

Philippines ICT Industry Segmentation

‘Philippines ICT Market Report and Forecast 2025-2034' offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Hardware _x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
• Hardware _x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
• Software
• IT and Infrastructure Services
• Telecommunication Services
• Software
• IT and Infrastructure Services
• Telecommunication Services

Market Breakup by Industry Vertical

• BFSI
• IT and Telecom
• Government
• Retail and E-commerce
• Manufacturing
• Energy and Utilities
• Others

Philippines ICT Market Share

According to the industry reports, the Philippines has been actively using ICT to enhance governmental processes. ICT significantly contributes in simplifying the government's working through various methods such as digitization of form applications and documents, online payment of taxes and other dues and the access to government portals for obtaining data and information.

Leading Companies in the Philippines ICT Market

The market players are increasingly bringing newer concepts and technologies to simplify various sectors by incorporating ICT to stand out in the market.

• IBM Corp.
• Microsoft Corp.
• Cisco Systems Inc.
• Google LLC
• AT&T Inc.
• Qualcomm Technologies, Inc.
• Oracle Corp.
• Fujitsu Ltd.
• HP Inc.
• Fortinet Inc.
• Others