Top 5 software company growth areas in Bangladesh
/Software development industry is one of the fastest growing industry in Bangladesh in recent history.
“The Information and Communications Technology (ICT) and IT-enabled services in Bangladesh have been maintaining a double-digit Compound Annual Growth Rate (CAGR) over the last ten years.
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An extensive study on the industry done by USAID reported that the industry generated revenue of $0.9-1.1 billion in 2017 and expected to grow nearly five-fold to reach $4.6-4.8 billion by 2025. This is significantly more than the growth forecast for any peer location such as India which is estimated a growth of 10-13% CAGR for 2017- 2020 or an emerging location such as Vietnam with 12-15% CAGR growth.
With such remarkable growth happening in this industry a question we get asked a lot is in which areas in the IT/ITES sector do we the most growth, what are the areas software companies should focus on to grow and what are the skills that software companies based in Bangladesh should acquire to tap into this growth. Since Kaz started before this exponential growth in the industry (back in 2004) we have seen the whole sector start moving, gain speed and grow as ourselves adapted and expanded with it. This unique experience has given us a lot of insights about the industry and it’s potential direction in the future and today’s article is just a quick summary about areas where see a lot of potential growth for the software companies here. Here are our top 10 list of software company areas for growth:
1. Custom web applications development
This is the biggest and most obvious area of growth for a software company in Bangladesh. This area has been growing consistently for the past 15 years with more and more project both international (outsourced) and local (both private and public sector) focused on web based solutions. Technologies such as ASP.NET/C#, PHP, Java are the obvious candidates for this sector and the availability of skill set is also strong. Most universities now have courses on one or more of the web technologies.
2. Custom mobile applications development
Similar to the web application development this is the other strong and consistent top growth area for software companies in Bangladesh. With most of the world moving towards mobile based interactions and software platforms it is only likely that this trend will continue. Majority of the mobile projects used to be outsource projects but over the past 5-6 years that trend is now augmented with mobile applications for the local market. This growth will definitely continue and be spread between iOS and Android development.
3. Game development
This is a relatively new sector for Bangladeshi software industry. Although several software companies had been making games for some considerable time (including Kaz, which started its first game in 2009) the total number wasn’t large and it was not a growth area. This is currently changing, with game development platforms such as Unity and Unreal making game development easier the barrier to entry has become low, making it possible for most software companies to take on game projects. This is going to be a major sector for the software industry in Bangladesh.
Checkout our article about our experience in making mobile games.
4. AR/VR development
AR and VR are the two new paradigm that will likely change the way we interact with software completely. This change of paradigm will be more radical to the change when users moved from their desktops to interacting more with their mobile screens. This is an obvious are for growth for the software industry in Bangladesh which is largely driven by the outsourced projects.
Read our experience is developing our first VR game.
5. IoT software development
IoT devices are likely to be as pervasive as mobile devices in the next 10 years. We’ve been writing about the potential for this for our software companies for the past few years. This would mean that IoT software development will become a major new direction for the software industry in Bangladesh.
We saw this in action when we built our first IoT device and software for Dutch startup delivering feed optimization for dairy farms all around the world. We see huge industry in the automotive industry’s use of IoT devices and have been working with several companies in developing innovative software platforms.
KAZ SOFTWARE - A LEADER IN THE OUTSOURCING INDUSTRY
Kaz software stands out as one of the top software companies in the IT services industry in Bangladesh. We have been doing software development outsourcing from Bangladesh since 2004. More than 20 companies from various countries of the world has offshored software projects with us over these years.
We believe we are the trend setters for proper development process, company culture and management required for the unique needs of outsourcing to offshore destination. This has been acknowledged by the industry with awards and informal communication putting us a one of the leaders in this sector.
Want our help? We know how to do great software.
To learn how easy it is to outsource your software development to the experts and concentrate your energy on your core business,
email us: info@kaz.com.bd
