MANILA: The Philippines is eyeing to earn annual revenues of $40 billion annually and a global market share of 15 percent for its information technology and business process management (IT-BPM) industry by 2022.
This was among the targets of a new roadmap for the industry for the next six years unveiled at the 8th International IT-BPM Summit held in Manila recently.
The Information Technology and Business Process Association of the Philippines (IBPAP), the enabling association for the IT-BPM industry in the country, partnered with Frost & Sullivan for the development of the new roadmap as they looked into the different potential growth areas in the sector.
By the end of 2022, the local IT-BPM industry expects to generate 1.8 million jobs, 73 percent of which are mid- to high-value. More than 500,000 jobs are forecast to come from outside the National Capital Region (NCR).
“The Philippine government though the Department of Information and Communications Technology (DICT) shall continue what has been started with regard to the BPO industry,” said DICT Secretary Rodolfo Salalima. “We envision a developed nation that will be dubbed as a “world-class ICT services provider.”
IBPAP’s previous two roadmaps – Roadmap 2010 and Roadmap 2016 – have been instrumental in growing the IT-BPM industry. By the end of this year 2016, the industry is expected to achieve its goals of 1.3 million jobs and $25 billion in revenue.
“With this new roadmap, we aim to accelerate the industry even further to prove that the Philippines is a future-ready investment destination,” said Danilo Sebastian Reyes, IBPAP Board Chairman and Genpact Philippines Country Manager. “With global trends focusing on artificial intelligence, digital transformation, big data and new delivery models, it is important that the sector future-proofs itself.”
Roadmap 2022 indeed builds on the momentum that the industry has collectively put in motion in the past two decades. Reyes said it is by far the most ambitious roadmap ever as it has a comprehensive plan for each of the industry’s subsectors — animation and game development, contact center and business process management, global in-house centers, health information management, and information technology and software.
