The local software industry has taken up a big challenge that it hopes to accomplish this year — reach $7 billion in revenues from $3 billion last year.
The country’s software developers took up the challenge in last year’s SoftCon, which was organized by the Philippine Software Industry Association (PSIA). The event drilled down specifically on the growing service areas for technology, namely: healthcare, bank financing, and manufacturing.
Current PSIA estimates have put employed software developers at around 123,000 while there are an estimated 1.5 million IT professionals doing consultancy work.
PSIA president Jonathan De Luzuriaga shared bold projections for the Philippine software industry saying, “We’re looking at increasing our global market share from the current 12% to about 15%.”
More markets are still under tapped and Tae Abe-Abion, PSIA official heading the Japan market, sees this as a great opportunity to further increase market share.
“Japan, for instance, is the third largest IT market and it’s just four hours away from the Philippines,” she said.
“There is a global gap in terms of IT services delivery. People have been scrambling to find delivery centers and these businesses that mostly went to North America and Europe before, are now getting their requirements from us,” added Luzuriaga.
PSIA vice president Winston Cruz said the country is being seen more a superior source of IT outsourcing. “In fact, we have experienced double-digit growth over the past couple of years and we foresee that this year and the years to come, will be even better.”
Representatives from Eastern Communications, the event’s Internet provider, confirmed that the telecom industry can support the higher demands of the software industry and even external communities.
“Right now, this connectivity demand reaches even our 5th class municipalities. If the economy and the market continue to grow bigger, the country’s bandwidth will need to grow alongside it to reach more customers,” Mike Soriano, Eastern Communications product management and development head advised.
Soriano continues to be optimistic as he cited the country’s improving internet infrastructure over the last decade.
“Imagine a fishing village that used to not be reached by cell sites is now connected to the Internet. Both the government and private sectors continue to work hand-in-hand to ensure the country’s Internet infrastructure improves at the soonest possible time, comparable to the best in the world.”
Monchito Ibrahim, a consultant of the Department of Information and Communications Technology (DICT), likewise assured the stakeholders that the agency will bring the country’s Internet speed and capacity at pace with industry targets.
He, in turn, challenged the local industry to further develop their talent pool and continue to promote programming, which enjoys a strong demand from software industries worldwide.