Bangladesh tech market growing fast: IDC

Staff Correspondent

7 September, 2018 12:00 AM printer

The country’s technology product market has been growing fast with huge potentiality to develop further, said an international survey.

According to the survey report conducted by International Data Corporation (IDC), the size of IT-based technology product market in Bangladesh is about US$1.5 billion.

Among the tech products, the mobile handset market is booming with an annual turnover of $ 1.18 billion while the laptop computers have a market of about $ 165 million.

The country imported some 34 million (3.40 crore) unites of mobile handset in 2017 which show the possibility of the market.

International market players in technology products have started to make their footprints in Bangladesh due to its growing market, said the IDC in its report.

IDC officials unveiled the report styled “Driving a Digital Bangladesh through High-tech Manufacturing” at Bangladesh Computer Council (BCC) in Agargaon in Dhaka on Thursday. Telecommunications and Information Technology Minister Mustafa Jabba attended the programme as the chief guest.

The US-based research organisation said that the local as well as the global mobile phone brands have made footprints in the market due to business-friendly policy supports from the government.

Addressing the meeting, Minister Mustafa Jabbar said, “The scenario of technology product markets have been changed in last ten years. The smart phone penetration is also increased due to expansion of connectivity. We hope, the usage of tech products will increase more in line with expansion of fourth generation network,”

Minister also informed that the government has been working together with private sector to reduce dependency on foreign products as well as promoting local brands in international market.

Boston Consulting Group (BCG) Kualalampur Managing Director Zarif Munir appreciated the government saying that the policy support helped Bangladesh becomes an international brand.

Among others, BCG Global Chairman Hans Paul Barker Ballen, Bangladesh Investment Development Authority (BIDA) Executive Chairman Kazi M Aminul Islam and ICT Division Secretary Begum Zuena Aziz were present on the occasion.