2 weeks ago
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In an analysis, Fitch Group unit BMI Country Risk and Industry Research said Globe is striking gold in its enterprise segment, especially as customers are valuing security more than ever these days.
STAR / File
MANILA, Philippines — Telco-to-tech provider Globe Telecom Inc. will generate more revenue from its enterprise group in the coming years, thanks to the demand for new business and consumer solutions in the digital era.
In an analysis, Fitch Group unit BMI Country Risk and Industry Research said Globe is striking gold in its enterprise segment, especially as customers are valuing security more than ever these days.
Recently, Globe started deploying the Network Exposure Platform made by Nokia as part of measures to build up its defenses against cyber threats.
BMI said partnerships such as this place Globe in the sweetest spot to respond to the demand for cybersecurity services. In particular, companies are looking for ways to protect their applications and data from bad actors who are targeting the vulnerable for monetary purposes.
Globe’s enterprise revenues jumped by 11 percent to P20.4 billion last year. BMI said Globe would further grow its earnings from the enterprise segment, as it develops new digital solutions, especially in cybersecurity.
“We expect robust growth in the cybersecurity market driven by enterprise customers prioritizing security and fraud prevention in their digital transformation efforts,” BMI said.
BMI projects the information technology industry in the Philippines to exhibit one of the strongest growths and reach a value of $19.5 billion by 2029.
To stay ahead of the curve, Globe would have to jack up cybersecurity spending to maintain its reliability as a service provider and keep its own network intact.
“As the leading fintech in the region, Globe’s position necessitates an increase in investments in consumer security software. We anticipate spending in this area to rise as Globe also continues to expand its GCash platform and capabilities,” BMI said.
Apart from its cybersecurity spending, Globe is pouring more capital into its 5G deployment. In 2024, the telco deployed 587 new 5G sites nationwide to keep up with the demand for high-speed connectivity.
To date, Globe has achieved a 5G coverage of nearly 99 percent in Metro Manila and close to 97 percent in some of the key cities in Visayas and Mindanao.
When compared, 5G provides subscribers with reliable internet that allows them to load websites quicker, play games smoother, run apps faster, watch high-definition videos, among others.
