Bangladesh’s Software Industry & Its Future

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29 May Bangladesh’s Software Industry & Its Future

With the passage of time Bangladesh has developed a lot in the sector of IT and software industry. In last few decades there has been a significant improvement in this field and time has brought the recent outcome. It gains maturity with such improvement which was quite undesirable at a certain period. But not anymore it’s going to be ignored or avoided by its contribution in the national income. Day by day it is creating more scopes for employment along with playing a vital role in dispelling the unemployment problems of the young graduates.

 

It’s one of the sectors which is bringing more and more new entrepreneurs. The number of young graduates starting their entrepreneurship in this sector is too damn high. Many of them returning to the country from abroad hoping for a better future in this sector. These enthusiastic young entrepreneurs are remarkably building sustainable business organizations through their hard work and passion. Their resilience are supposed to be the key force of Bangladesh IT industry.

 

A survey of BASIS shows that the number of registered software companies in Bangladesh are around 800 or more than that. Although there is every single possibility to have more than hundred unregistered IT ventures for both local and global markets. Among these companies a few names are always uttered as the best software companies in Bangladesh. A study says that approximately 30,000 professionals are currently working in this IT sector and the industry size is estimated to be over US$ 250 million. Software & IT services industry is certainly one of the top graduate employment sectors in Bangladesh. In this case best software companies in Bangladesh are mentioned above in the choice list of top graduates.

 

A recent survey of BASIS shows that over 70% of the IT companies are found to be involved in development and maintenance of software for their clients. They are indulged in providing best IT solutions regarding graphics/web design, data processing, software development or content management. Top software companies in Bangladesh are always busy to bring new dimensional services to cross one another adopting several strategies. Introduction of new payment method like payment in online via credit card or other mobile options are such examples of revolutions. Around 45% of them stick to their core business of software development but the others also involves them in specializing e-Commerce, e-Learning, listing services or payment services. In addition, some also provides the service of web development or cloud storage services.

 

A major fact is being noticed that most of the IT farms continue their business in local market. A statistics of BASIS says that 63% of them are focused in local market which supposed to be a barrier in globalizing this sector. The rest are trying to put a mark in global market and maintaining their quality. They are trying to snatch the title of Top software company in Bangladesh. The trend shows that there has been a consistent growth in this market and that’s been around 20-30%.

 

It’s been noticed that there’s been a high level of interest for IT jobs several sectors including public sector, private sector or market share. Amongst the best software companies of Bangladesh around 110 IT solution companies are mainly focused on domestic market regarding ERP, HR software, Accounting software, Sales Automation or Inventory Management system. There’s been a huge demand of IT specialists in Banking or financial sectors like insurance, leasing or MFIs. Although it’s unfortunate that most the banking institutions are dependent on the software developed by foreign companies. But the activity has been changed a bit.software companies of Bangladesh have been trying hard to draw their attention and they’ve quite successful in this issue.

 

Other manufacturing sectors like textile, pharmaceuticals or production industries have started to introduce themselves with ERP software, HR information system or financial management solution. Thus a certain need of IT specialists has been created in these sectors. At present they are depending on vendor companies for their IT requirements. But the ratio is gradually changing. On the other hand telecom companies or real estate companies are dealing with the best software companies in Bangladesh. They are heavily dependent on their services which has created a sizable market space for IT solution companies.

 

To keep pace with the trends and tough competitions among the best software companies in Bangladesh government market has also been a crucial part of this industry. Now they are targeting government or public sectors for their IT services. In this race larger companies are well ahead of others. However it’s been noticed that there’s been a significant upward for software and other IT services in different ministries and department of government. It’s expected that this trend goes on for the betterment of software companies working in local markets only.

 

In 2010, a list of top 30 outsourcing destinations of the World was published by Gartner which included the name of Bangladesh for the ever time. This recognition proves the progress of Bangladesh in IT & software sector. Considering as a potential market Samsung started their R & D center in Bangladesh in 2010. Following that other popular companies like AMD, LG, IBM are also on the path of setting up R & D center in Bangladesh. One of the main reasons for this is the availability of skilled persons and experts in Bangladesh at a good price. Adopt several marketing strategies including SEO (Search Engine Optimization), Social marketing or creating an online market place.

One of the BASIS survey shows that best software companies in Bangladesh require some common skills in this sector. The technologists are expected to have proper command over C, C++, C#, Java or Android for software development. On the other hand web development is based on PHP, CSS, HTML or word press. For several platforms like iOS, Windows command over other languages is also required.

 

Whatever, the industry experts believes that there should be regular upgrades in skill sets or in others platforms of software industries. In the upcoming decades advanced technologies like Cloud Computing, Storage Networking or LTE should be replaced in todays’ technologies. Whatever happens software companies have to put a step regarding this issue thinking about the future. If they can cope with change of decades they will certainly continue their current run and their rate of success will last long securing a bright future.

 

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