Fast Market Research recommends "Sri Lanka Information Technology Report Q4 2014" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 09/18/2014 --We forecast a CAGR of 15.5% for IT market spending 2014-2018, with the market expected to increase to a value of LRK163.8bn in 2018. 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. We expect it to embark on a period of catch-up growth 2014-2018, closing the gap to comparable markets in terms of the penetration of IT products and solutions after a long period of conflict. The local IT industry is also developing, with a vibrant local software and BPO industry and the development of local facilities for PC manufacture and assembly to service the local market and wider region.

View Full Report Details and Table of Contents

Headline Expenditure Projections

- Computer Hardware Sales: LKR59.7bn in 2014 to LKR100.9bn in 2018, CAGR of 14.2% in local currency terms. There is strong growth potential for hardware sales in Sri Lanka due to low PC penetration rates, declining device prices and rising incomes.
- Software Sales: LKR14.8bn in 2014 to LKR28.0bn in 2018, CAGR of 17.5% in local currency terms. Software piracy remains a drag on the market, but growth will be driven by investments in enterprise software.
- IT Services Sales: LKR17.9bn in 2014 to LKR34.9bn by 2018, CAGR of 18.3% in local currency terms. IT services forecast to be the outperforming vertical with cloud computing service adoption seeing the fastest growth.

Key Trends And Developments

- The outsourcing industry in Sri Lanka has developed rapidly in recent years - and BMI believes it is on a strong footing to continue this trend in the medium term. SLASSCOM reported a 238% increase in industry revenue 2007-2013, reaching USD720mn. Meanwhile, sector employment increased by 123% over the same period to reach 75,100 in 2013. Sri Lanka has emerged as a leading destination for software product engineering...

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

- 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

Executive Summary

Summary of BMI's key industry forecasts, views and trend analysis covering IT, regulatory changes, major investments and projects and significant national and multinational company developments.

Regional Overview

Cross-border analysis of regional markets, commenting on IT penetration (PC and internet) and market growth drivers (IT market size and IT market compound growth).

Country Market Overview

Structure, size and value of the industry sectors including hardware, software and services; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments and government authority.

BMI Industry Forecasts

Historic data series and forecasts to end-2017 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

IT Sector: IT industry value (US$bn); IT sector contribution to GDP (%); value of hardware, software and services industry (US$mn); PC, peripherals and software imports and exports (US$mn); PC, peripherals and software sales (US$mn); number of PCs (`000); PCs/100 inhabitants; internet users (`000); internet users per 100 inhabitants; broadband subscribers (`000); broadband subscribers per 100 inhabitants.

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Computer Technology research reports at Fast Market Research

You may also be interested in these related reports:

- Indonesia Information Technology Report Q4 2014
- Czech Republic Information Technology Report Q4 2014
- Mexico Information Technology Report Q4 2014
- Israel Information Technology Report Q4 2014
- Colombia Information Technology Report Q4 2014
- Slovenia Information Technology Report Q4 2014
- Argentina Information Technology Report Q4 2014
- Peru Information Technology Report Q4 2014
- South Africa Information Technology Report Q4 2014
- Turkey Information Technology Report Q4 2014