Market Report, "Sri Lanka Information Technology Report Q3 2016", published

Sri Lanka is one of the lowest income and least developed economies in Asia Pacific and this is reflected in a small IT market and industry. However, with a positive economic outlook this means there is low-hanging fruit for vendors as household incomes rise and the public and private sector modernise , that we expect to result in fast medium - term spending growth. Our forecast envisages a CAGR of 12.5% for the IT market spending over 2016-2020 to a total of LKR181.9bn in 2020. Meanwhile, we believe the local industry is positioned for further expansion, primarily in software and services, but there is also a nascent IT hardware industry.Latest Updates And Industry DevelopmentsIT Hardware Sales: LKR71.7bn in 2016 to LKR109.3bn in 2020, a compound annual growth rate (CAGR) of 11.1% in local currency terms. Income growth will be the key driver, which should deepen the market substantially, but price sensitivity will continue to be a key consideration for vendors.
Software Sales: LKR18.8bn in 2016 to LKR32.1bn in 2020, CAGR of 14.4%. As supporting infrastructure investments allows for increased supply, we expect software-as-a-service will deepen the enterprise software market and drive growth.
IT Services Sales: LKR23.1bn in 2016 to LKR40.5bn in 2020, CAGR of 15.1%. IT services spending will benefit from the computerisation of the public and private sectors, as well as the expansion of network infrastructure.

Full Report Details at
- http://www.fastmr.com/prod/1172853_sri_lanka_information.aspx?afid=301

The Sri Lanka Information Technology Report features BMI Research'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
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.
Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).

Coverage

BMI Industry View

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