Sri Lanka Information Technology Report Q2 2015
BMI View: Strong economic growth and a government that is supportive of digitalisation underpin our ITgrowth forecast as this is also likely to filter through in a shape of increased government spending. Weforecast a CAGR of 15.4% for IT market spending 2015-2019, with the market expected to increase to avalue of LRK188.8bn in 2019. We believe Sri Lanka will outperform the majority of IT markets in the APACregion due to a convergence of factors. Strong income growth and low penetration of PCs, enterprisesoftware and services will combine to boost IT spending growth in Sri Lanka over the medium term. Thelocal IT industry is also developing, with vibrant local software and BPO industries and the development oflocal facilities for PC manufacture and assembly to service the local market and wider region.
Headline Expenditure Projections
Computer Hardware Sales: LKR59.7bn in 2014 to LKR114.9bn in 2019, CAGR of 14.0% in localcurrency terms. There is strong growth potential for hardware sales in Sri Lanka due to low PCpenetration rates, declining device prices, rising incomes and the development of a local manufacturingbase.
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