As of the third quarter of 2024, Facebook was the most used social media platform in the Philippines, as stated by about 95 percent of respondents. Facebook Messenger follows, with about 93 percent of Filipinos stating they used the messaging app. Facebook as the top social media in the Philippines In the Philippines, Facebook is not only considered a social media platform, but also as a primary source of news and a platform for e-commerce companies to reach out to their potential consumers. It is perhaps unsurprising how the app dominated the social media market in the country, as seen in the growing number of Filipino Facebook users. Reasons for increasing social media usage As a country divided by over seven thousand islands, the constant need for interaction has been driving the growing number of social network users in the Philippines. This is also an important platform for families with members working overseas and those who have already emigrated abroad.

The number of Twitter users in the Philippines was forecast to continuously increase between 2024 and 2028 by in total 2.7 million users (+31.11 percent). After the eighth consecutive increasing year, the Twitter user base is estimated to reach 11.39 million users and therefore a new peak in 2028. User figures, shown here regarding the platform twitter, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of Twitter users in countries like Cambodia and Indonesia.

The number of LinkedIn users in the Philippines was forecast to continuously increase between 2024 and 2028 by in total 2.9 million users (+30.95 percent). After the eighth consecutive increasing year, the LinkedIn user base is estimated to reach 12.24 million users and therefore a new peak in 2028. User figures, shown here with regards to the platform LinkedIn, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period and count multiple accounts by persons only once.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of LinkedIn users in countries like Singapore and Myanmar.

The number of snapchat users in the Philippines was forecast to continuously increase between 2024 and 2028 by in total 2.1 million users (+29.66 percent). After the eighth consecutive increasing year, the snapchat user base is estimated to reach 9.19 million users and therefore a new peak in 2028. Notably, the number of snapchat users of was continuously increasing over the past years.The user numbers, depicted here regarding the platform Snapchat, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period and count multiple accounts by persons only once.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of snapchat users in countries like Thailand and Malaysia.

The number of WhatsApp users in the Philippines was forecast to continuously decrease between 2024 and 2029 by in total 0.01 million users. The WhatsApp user base is estimated to amount to 0.7 million users in 2029. User figures, shown here regarding the platform whatsapp, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of WhatsApp users in countries like Myanmar and Singapore.

Facebook and YouTube are still the most used social media platforms today.

The ASEAN Satellite Communications Market is Segmented by Type ( Ground Equipment, Services), Platform (Portable, Land, Maritime, Airborne), End-User Vertical (Maritime, Defense and Government, Enterprises, Media and Entertainment), Countries (Indonesia, Malaysia, Thailand, Vietnam, Philippines, Singapore). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

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Finance Accounting Business Process Outsourcing Market Size 2024-2028

The finance accounting business process outsourcing market size is forecast to increase by USD 27.30 billion at a CAGR of 7.85% between 2023 and 2028. The market is experiencing significant expansion, driven by several key factors. Firstly, companies are increasingly prioritizing cost reduction through outsourcing their finance and accounting functions. Secondly, the number of finance accounting BPO service providers is surging, offering businesses a wide range of options to choose from. Lastly, the need for accounting agility is on the rise, with businesses requiring real-time financial data and analysis to make informed decisions. The integration of artificial intelligence and machine learning technologies is further enhancing accounting processes, enabling businesses to automate data analysis, predict trends, and gain deeper insights for more accurate and timely decision-making. This trend is expected to continue, as more organizations seek to streamline their operations and improve their financial performance.

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The market is evolving rapidly, particularly in India and the Philippines, where businesses leverage cost-saving solutions. Companies are implementing Business Continuity Plans (BCP) to ensure resilience while integrating process automation technologies and cloud computing. Knowledge Process Outsourcing (KPO) is becoming essential for specialist processes like accounts payable, accounts receivable, general ledger, and treasury and cash management. The modernization effort includes adopting hybrid cloud solutions and AI insights to create intelligent workflows and enhance business analytics. Social media marketing services are also being integrated to drive customer engagement. By focusing on end-to-end experiences and intelligent processes, organizations can optimize yield management and improve overall efficiency in financial operations.

Further, the market is thriving, particularly in India and the Philippines, where financial organization seek cost saving solutions. Leveraging AI insight enables enterprises' leadership to make smart decision-making based on continuous, real-time insights. Understanding the CFO's imperatives is crucial for BPO industry providers, as they tailor their services to meet the unique needs of finance and accounting organization. The F&A domain encompasses critical functions such as shareholder accounting, collections, and financial administration. Additionally, risk analytics plays a vital role in enhancing decision-making and mitigating potential pitfalls. As companies increasingly turn to BPO contract for efficiency, the focus on data analysis will drive further innovation and improvements in the financial services landscape.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Large enterprises
  SMEs


Application

  BFSI
  IT and telecommunications
  Manufacturing
  Healthcare
  Others


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By End-user Insights

The large enterprises segment is estimated to witness significant growth during the forecast period. The large enterprise segment is the most important end-user of business accounting software in the global market. In addition, large enterprises have many operations, a large number of resources, and a complex set of financial management requirements. Therefore, they need finance accounting business process outsourcing that is able to manage large transactions, provide comprehensive financial reports, and offer sophisticated financial analysis and forecasting capabilities.

Moreover, one of the main reasons why large enterprises automate financial processes and minimize manual mistakes. In addition, these large enterprises handle hundreds of transactions every day, such as sales, procurement, and payroll. Furthermore, finance accounting business process outsourcing helps assist these large enterprises in accounting and payroll, among other services in finance. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

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The large enterprises segment accounted for USD 29.88 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the

The number of Pinterest users in the Philippines was forecast to continuously increase between 2024 and 2028 by in total 0.3 million users (+28.3 percent). After the ninth consecutive increasing year, the Pinterest user base is estimated to reach 1.39 million users and therefore a new peak in 2028. Notably, the number of Pinterest users of was continuously increasing over the past years.User figures, shown here regarding the platform pinterest, have been estimated by taking into account company filings or press material, secondary research, app downloads and traffic data. They refer to the average monthly active users over the period and count multiple accounts by persons only once.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the number of Pinterest users in countries like Indonesia and Laos.

The average person has 8-9 social media accounts. This has doubled since 2013, when the average person just had 4-5 accounts.

It was estimated that by 2029, over 95 million Filipinos will become social network users. Considering the forecasted population of around 119 million, this highlights the key role of social media among Filipino internet users.

Is the Philippines the social media capital?
The Philippines have been called the social media capital of the world because of their extraordinarily high usage time of about three hours per day. Facebook, TikTok, and Instagram have emerged as the leading platforms used monthly by Filipino internet users. Additionally, Filipinos were known as early technology adopters, as well as being highly internet-savvy.

How are the Philippines able to improve its accessibility?
While Filipino online users continue to ride the wave of internet trends, the current network infrastructure still needs improvement. The archipelago consists of around seven thousand islands, making it challenging for the government to provide basic connectivity for all. As of 2022, it was estimated that there were about 56 percent of Filipinos had internet access. Although this figure was seen to improve in the succeeding years, measures to speed up the internet connection speed in the Philippines should be laid out to cater to the population’s needs.

As of the third quarter of 2024, internet users in the Philippines spent an average of 8.52 hours accessing the internet on various devices, according to a global survey. In terms of devices, most Filipinos have used their mobile phones to surf the web. Internet usage of Filipinos Being the population with the most time spent using the internet in the region, Filipino internet users have been taking advantage of the ease of communication and access to information and entertainment that the internet offers. Aside from just browsing the web, accessing social media has been popular among a large share of the Filipino population. As of the third quarter of 2023, Meta platforms such as Facebook and Instagram, along with TikTok, were the most used social media platforms in the country. These platforms were used to connect with friends and family, and to access news and information, stream video content, and find products and services to purchase. Level of internet security in the Philippines Since most activities have been digitalized, cybersecurity threats and online fraud have been a growing concern among internet users. In the Philippines, over 39 million web threats have been detected in 2022. Among those who shop on social media, product fraud was identified as the most common fraud type, along with non-delivery of products or services and payment fraud. To address this, the national government amended its cybersecurity laws to ensure better security of internet users in the Philippines.