MANLA - The Department of Information and Communications Technology (DICT) is creating a framework or roadmap for the Internet of Things or IoT.

IoT refers to an ecosystem of smart devices, appliances, vehicles or any object embedded with sensors or software and are linked with each other. One example is a smart home— where appliances, the lighting system and more are connected to the Internet and can be controlled by the user even if he/she is not at home.

At a media briefing for the IoT Conference 2024 in Pasay, DICT Director Emmy Lou Versoza-Delfin of the ICT Industry Development Bureau said the IoT market value in the Philippines is expected to hit P164 billion this year, based on Statista. And that figure is expected to grow further.

“By the end of 2029, ang projection total market volume could reach P410 billion. In other words, malaki ang potential,” she said.

Which is why, she asserted, that expanding IoT sector in the country is a must because of its significant contribution to the economy and also a potential source of jobs. Packetworx, one of the organizers of the conference, agreed that IoT can boost the country’s gross domestic product (GDP) in the long run.

“IOT is all about increasing efficiency and productivity. Not changing anything by just applying IOT, being able to monitor and measure your performance… We can be more globally competitive and increase our GDP by at least 10 percent,” said Packetworx CEO Arnold Bagabaldo.

IoT, they said, is not just about smart homes, but it covers all sectors. And its effect to the economy is even greater since it will have a domino effect on other industries as well.

“IoT can do a lot in different verticals healthcare, education, logistics, transportation, and very relevant sa disaster risk, sa climate change,” said Versoza-Delfin.

Bagabaldo added, “Internet of Things connects everything else- your water meter, your power meter, weather stations, your chair, your fitness tracker… When all these data goes to the cloud in one place, you can then use analytics to make sense of the data and find insights.”

He also said the Philippines can easily be an exporter of IoT tech, and not simply just a consumer. IoT software can be developed by Filipinos and no big spaces are required for such. What is needed, he said, is awareness, especially for students to study IoT technology or for Filipinos to create startups on using IoT in various fields.

Converge CEO Dennis Anthony Uy, who also joined the media briefing, acknowledged the growing demand for IoT which is why he said his company is investing much on internet infrastructure and soon they will launch a new service specifically for smart homes.

DITO also recently announced it unveiled its 5G redcap technology. A technology that is more suitable for IoT devices or wearables. This as they see the future of IoT in the country and its effect on every Filipino.