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2015: Accelerating Innovation

2015:  Accelerating Innovation

2015 is the year of accelerating innovation for Asia-Pacific, especially in the Information and Communications Technology (ITC) industries.  Smartphones Information Technology continues to increase as well as cloud system technology – both points that signal IT spending growth in Asia will be unprecedented this year.

 

The Philippines is expected to have a continued increased in ITC spending this year, continuing a trend experienced in recent years.  Growth Domestic Product in the Philippines is expected to grow to 6.4% in 2015, making the future of economic spending bright.  Stable infrastructure spending continues to support this growth and healthy economic reforms have influenced companies to increase ITC spending in The Philippines.  Even further, innovation into technologies like mobile, cloud, and social business and Big Data, are transforming the landscape of innovation.  The only major concerns for 2015 are things that cannot be controlled by business innovations:  natural disasters that are common in The Philippines like typhoons and cyclones will only be short-term disruptions.

 

As ownership of smartphones continues its increase in The Philippines, we can expect a 4.7% growth.  This growth, due to declining prices and up and coming local providers as well as plans to broaden network coverage will drive smartphone volume growth.  In order to gain an edge and with competition stiff, providers must be willing to go above and beyond to distinguish themselves among competitors.  More importantly, nearly $15 billion in investments from various governments will focus on the reorganization and alliance of ITC resources.  Planning for smart cities will continue to be developed over the next three years, paving the way for new innovation into ITC technologies.

 

As businesses continue to convert to cloud-based infrastructures that will make experiences more personalized will be the norm moving forward.  Recently, The Asia Cloud Computing Association awarded the Philippines the number then spot on its Cloud Readiness Index of 2014.  In the last three years, the Philippines have consistently moved up two spots in the index, signaling proactive movement in the market.  The Philippines leads in terms of access to information and its focus on development of friendly cloud technologies and business process outsourcing.

 

Omni-channel retailing is simply when consumers make purchases using their smartphones.  This is a growing trend in the Philippines where omni-channel purchases make up a large percentage of purchasing power in the country.  Using smartphones to research products, compare prices, and eventually make purchases is becoming the norm in The Philippines.  In 2015, the distinction between omni-channel and offline and online channels, will change the purchasing behavior of consumers.

 

The continuously changing business market has been well received in The Philippines.  Governments have been able to adapt easily and have made important strides in assisting companies and industries to further innovation in the country.

 

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