Bangladesh IT sector to grow five-fold by 2025 | 2017-11-30 |

Bangladesh IT sector to grow five-fold by 2025

Sun Online Desk

30th November, 2017 08:14:00 printer

Bangladesh IT sector to grow five-fold by 2025

A paper presented on the prospect of the IT sector on Thursday projected that country's IT/ITES (IT-enabled services) industry would generate a revenue worth around USD 0.9 to 1.1 billion this year and it has a five-fold growth prospect to reach USD 4.6 to 4.8 billion by 2025.


The Everest Group has prepared the White-paper titled: `Betting on the Future-The Bangladesh IT/ITES Industry is Poised for Growth' with the cooperation of US based Boston Consulting Group (BCG) through interviewing local companies and government stakeholders.


The data from the Everest Group proprietary industry factsheets and methodologies were used to compile this report that forecasts the local industry's revenue generation of US $0.9-1.1 billion in 2017 and a five-fold growth to reach US 4.6-4.8 billion by 2025.


While addressing the launch function of the IT whitepaper at the Janata Tower in the city's Karwan Bazar, State Minister for ICT Zunaid Ahmed Palak said the government is taking preparation to cope with the emergence of fourth Industrial Revolution (4IR) and disruptive technology.


"A huge development is taking place in the IT sector in the technology advanced countries and we are taking preparation to cope with them," said the state minister. He said a magnificent development has taken place in Bangladesh's IT sector during the last nine years and there are lots of success stories in this sector.


The government has now put emphasis on Big Data Analysis, Internet of Things (IoT) and Artificial Intelligence to adapt with the emergence of disruptive technology, Palak said adding the research should be conducted on hardware manufacturing and on Research and Development (R&D).


The ICT state minister said the whitepaper is an unbiased reflection of Bangladesh's potential for emergence as an ICT hub and depicts how the Digital Bangladesh Vision has become a reality.


He also urged everyone to utilize the whitepaper and promote the IT-ITES industry in Bangladesh both locally and globally.


BCC Executive Director Swapan Kumar Sarker, LICT Project Director Md Rezaul Karim, President of Bangladesh Association of Call Center and Outsourcing (BACCO) Wahid Sharif, Partner of BCG Zarif Munir, Practice Director at Everest Group Prashray Kala and prominent industry leaders were present.


Prashray Kala said the Whitepaper provides context on the current scenario of the country's IT-ITES sector, Bangladesh's unique value proposition and the challenges and opportunities for the industry going forward.