"Sri Lanka Information Technology Report Q2 2015" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Wed Mar 11 2015

Strong economic growth and a government that is supportive of digitalisation underpin our IT growth forecast as this is also likely to filter through in a shape of increased go vernment spending. We forecast a CAGR of 15. 4 % for IT market spending 2015-2019 , with the market expected to increase to a value of LRK 188.8 bn in 2019 . We believe Sri Lanka will outperform the majority of IT markets in the APAC region due to a convergence of factors. 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.

Full Report Details at
- http://www.fastmr.com/prod/960683_sri_lanka_information_technology_report_q2_2015.aspx?afid=301

Headline Expenditure Projections

* Computer Hardware Sales: LKR59.7bn in 2014 to LKR114.9bn in 2019, CAGR of 14.0% 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 LKR32.8bn in 2019, CAGR of 17.3% in local currency terms. Software piracy remains a drag on the market, but growth will be driven by investments in enterprise software, with SaaS adoption rates expected to increase significantly over the medium term.
* IT Services Sales: LKR17.9bn in 2014 to LKR41.1bn by 2019, CAGR of 18.1% in local currency terms. IT services forecast to be the outperforming vertical with cloud computing service adoption seeing the fastest growth alongside the continued expansion of the outsourcing industry.

Key Trends And Developments

BMI is bullish about the enterprise IT opportunity in Sri Lanka 2015-2019, with a generally low penetration of devices and solutions a consequence of years of instability due to conflict. However, the market has gained...

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.

Key Benefits

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