PHL’s IT-BPM sector eyes 14% of global market by 2022

The information technology-business process management (IT-BPM) sector intends to increase its global market share by as much as 3 percentage points by 2022 from 11 percent 2016, the Information Technology and Business Process Association of the Philippines (IBPAP) said Thursday.

“In 2016, we only had 11 percent of the total business ... By 2022, we will hit 14 percent of the global market,” IBPAP president and CEO Rey Untal told reporters in a roundtable.

The Philippines is projected to grow in terms of revenue and headcount.

“The forecast is that we are going to see revenue growth of 9 percent and headcount of 8 percent,” Untal noted.

His projections are slower that previous number of 14 to 17-percent, as the sector has grown so large in scale over the past years.

“Growth in the next five years is different ... from 2010 to 2016,” Untal noted, considering that the sector’s employee base has reached 1.2 million individuals as of 2016.

Untal said IBPAP is now reviewing the current numbers which the group is scheduled to release in September.

The IBPAP earlier said it targets to generate as much as $39 billion in revenue by 2022.

IBPAP launched on Thursday its newly renovated headquarters in Bonifacio Global City, which hosts meetings among industry representatives and stakeholders. —VDS, GMA News