"Sri Lanka Information Technology Report Q1 2016" is now available at Fast Market Research
New Computer Technology research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Wed Dec 16 2015] We hold a positive outlook for the Sri Lankan IT industry as we forecast IT spending in the country to be driven by strong economic growth and government support for digitalis ation. We forecast a CAGR of 14.2% fo r the IT market spending in 2014 -2019. We believe that 2016 will witness stable growth in all sectors of the IT market , with the market growing by 14.7% in 2016. Strong income growth and low penetration of PCs, enterprise software and services will combine to boost IT spending growth in Sri Lanka over the medium term. The local IT indu stry is also developing, with vibrant local software and BPO industr ies and the development of local facilities for PC manufacture and assembly to service the local market and wider region .
Latest Updates & Industry Developments
Computer Hardware Sales: LKR59.7bn in 2014 to LKR109.0bn in 2019, compound annual growth rate (CAGR) of 12.8% in local currency terms. There is strong growth potential for hardware sales in Sri Lanka due to low PC penetration rates, declining device prices, rising incomes and the development of a local manufacturing base.
Software Sales: LKR14.8bn in 2014 to LKR31.1bn in 2019, CAGR of 16.1% in local currency terms. Enterprise software spending forecast to grow rapidly, with software-as-a-service provision also unlocking the small- and medium-sized enterprise software market through lower cost for end-users.
IT Services Sales: LKR17.9bn in 2014 to LKR39.0bn in 2019, CAGR of 16.9% in local currency terms. IT services forecast to be the outperforming segment, underpinned by the expansion of the outsourcing industry, particularly higher value software development services.
Full Report Details at
The Sri Lanka Information Technology Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering personal computers and software; semi-conductors, memory chips, integrated circuits and general components; the internet and IT solutions. It analyses analyses regulatory changes (licensing, customs and intellectual property protection) and competitive landscapes comparing IT companies by products, sales, market share, investments, projects and expansion strategies.
BMI's Sri Lanka Information Technology Report provides industry professionals and strategists, corporate analysts, IT associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the IT industry in Sri Lanka.
* Benchmark BMI's independent IT Industry forecasts for Sri Lanka to test other views - a key input for successful budgetary and strategic business planning in the Sri Lankan IT market.
* Target business opportunities and risks in Sri Lanka's IT sector through our reviews of latest industry trends, regulatory changes, and major deals, projects and investments in Sri Lanka.
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