BMI View: We hold a positive outlook for the Sri Lankan IT industry as we forecast IT spending in thecountry to be driven by strong economic growth and government support for digitalisation. We forecast aCAGR of 14.2% for the IT market spending in 2014-2019. We believe that 2016 will witness stable growthin all sectors of the IT market, with the market growing by 14.7% in 2016. Strong income growth and lowpenetration of PCs, enterprise software and services will combine to boost IT spending growth in Sri Lankaover the medium term. The local IT industry is also developing, with vibrant local software and BPOindustries and the development of local facilities for PC manufacture and assembly to service the localmarket 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 SriLanka due to low PC penetration rates, declining device prices, rising incomes and the development of alocal manufacturing base.
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