Philippines It Service Management Market Forecast 2017-2020
KEY FINDINGS The Philippines IT service management market is expected to rise at 11.25% CAGR over the forecast years of 2017-2020. Between these estimated years, the market revenue is anticipated to increase from $26 million in 2016 to $39 million by 2020
MARKET INSIGHTS The Philippines IT service management market is classified on the basis of organizations size and end-users. Factors like enhancement in the BPO value chain expanding the outsourcing contracts values, a marked increase in cloud computing adoption rates (including those for software-as-a-service, infrastructure-as-a-service and platform-as-a-service) and underpenetrated small and medium-sized enterprise market are providing the Philippines ITSM market with potential growth opportunities. However, the threats of regional cybersecurity issues and nearshoring/automation due to BPO wage rises are still looming over this nation.
COMPETITIVE INSIGHTS Companies like Service Now, Bmc Software, Cherwell, Ivanti and Zoho Corporation (ManageEngine) are competing in the Philippines IT service management market.