Sri Lanka ICT Market Growing on Moderate Economy

, Delhi India (PressExposure) July 28, 2008 -- The ICT industry of Sri Lanka is one the fastest growing and has the potential to emerge as one of the leading revenue generators for the country, says “Sri Lankan ICT Market Analysis”, a new research report from RNCOS.

The report says that Sri Lanka has been showing strong determination to develop its infrastructure despite ongoing political problems and this sustainable economic growth is one of the main reasons boosting growth in the country’s ICT market. At present, the Sri Lankan economy is counted among the most moderate economies in South Asia that has succeeded in maintaining healthy growth rates in recent past. Moreover, the country has some added benefits in developing its ICT industry, like favorable macro-economic policies and a business culture open to international investors and partners. In addition, Sri Lankan telecom industry, constituted by fixed and Wireless Local Loop (WLL) operators, and mobile and public phone operators, is the most liberal in South Asia.

However, the broadband penetration in Sri Lanka is still very low, representing huge growth opportunities for the ICT market, says the RNCOS report. Total broadband subscribers in the country are estimated to grow at an annual growth rate of 22-25% during 2008-2011, creating huge demand for ICT products and services. This will open up immense business opportunities for such sectors as IT-BPO, healthcare, banking, educational sectors, safety & security market and Internet and broadband providers.

“Sri Lankan ICT Market Analysis” comprehensively discusses segments like Internet subscribers, broadband subscribers, fixed-line telephone subscribers, and mobile subscribers and provides forecast on the vital segments of the industry.

In addition, the research gives information on current and future market trends in the IT and telecom sector with focus on PC, Internet, mobile & fixed telephony and broadband market. It highlights key market drivers, challenges for the market and gives rational analysis on various aspects, enabling investors, financial service providers, and global IT and telecom players to evaluate their prospects in the rapidly growing ICT market in Sri Lanka.

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

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Press Release Submitted On: July 26, 2008 at 1:38 am
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