MANILA, Philippines - The Philippine Software Industry Association (PSIA) is aiming for as much as 133 percent growth in revenues from software service exports by 2022 amid strong demand from overseas markets.
PSIA president Jonathan De Luzuriaga said the group wants to expand revenues by up to $7 billion by 2022 from only $3 billion this year.
“We’re so far away from the potential,” he said, citing the demand for software services overseas offers opportunities to the country.
He said the country is now less dependent on demand from the North American market as demand is rising in other markets.
To grow revenues from services rendered overseas, the country would need close to 200,000 software developers.
At present, the country has about 123,000 software developers working on software services for export.
“Interventions are needed to create talent,” De Luzuriaga said.
The association is currently working on developing a pool that could serve the requirements of overseas markets by holding trainings.
“We need to come up with new products that will serve not just the domestic market but the global market as well. There’s a wider variety of development going on and the local software industry has to hit the ground running on this,” he said.
The group is also working on promoting the country to overseas markets.