Huge opportunity seen in cloud business development in PH

A huge opportunity looms for cloud business development in the country as business entities are gearing up to expand their cloud services, according to the International Data Corp. (IDC).

The IDC Asia/Pacific Cloud Survey 2021 showed that 88 percent of Philippine organizations-respondents indicated that they would increase their cloud services in the next 12 months

The country’s total public cloud services market is projected to hit $1.1 billion by 2025 at a five-year compound annual growth rate of 25.6 percent.

Market drivers for cloud services in Southeast Asian countries like the Philippines include infrastructure modernization, more options of cloud regions/datacenters, in-house development capability, low-code/no-code to drive development efficiency, digital economy and tech start-ups, customer experience, and cloud enterprise resource planning.

IDC said government policies and initiatives are an important driver for the development of the cloud market in the Philippines, as well as to support the country’s digital economy roadmap.

“Several initiatives were launched by the government to drive digital transformation, such as the National Artificial Intelligence Roadmap which aims to make the Philippines an AI powerhouse in Southeast Asia and accelerate AI adoption across industries in the Philippines” IDC Thailand research maanger Prapussorn Pechkaew said.

IDC said that due to the COVID-19 pandemic, more enterprises are migrating their mission-critical workloads to public cloud.

Authorities in the region are also making way for regulated industry players such as financial, insurance, healthcare, public sector, energy, telecom, and manufacturing to adopt public cloud.