Opportunities & Threats in Bangladeshi IT Industry During COVID-19

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The Bangladeshi IT Industry is the most booming sector in recent times and for the past five years, the industry has got the thrust for becoming the most impactful sector for the socio-economic development of our country after the textile, leather, food, fertilizer, and pharmaceutical industry. The Bangladeshi Govt. has taken many good initiatives like Tax benefits, ICT Education & Training programs, etc. to help the IT, ITES industry to go long & far to grab the $5.3 Trillion global market. Additionally, the COVID-19 pandemic has opened a whole new window of opportunities for the global IT industry to gain considerably.
In Asia, India & Vietnam had been ruling the global IT market while the Bangladeshi IT industry has scored a good position by offering a competitive cost with quality services. Therefore, companies who have already started adopting advanced technologies like AR/VR, Big Data, Artificial Intelligence, Machine Learning, Blockchain & Cloud will stay ahead in the global competition. Over and above, will sustainably grow and thrive in the long run.
In Bangladesh, we have a shortage of highly professional mid-level managers and top-level managers that brings a threat to the IT industry and chiefly, for the IT startups and mid-size IT firms to envision the bigger picture and to cope in the global competition. But other than that, the companies having higher adaptability of broad technology stacks with proper strategic direction will be able to stay put in the game. And lots of opportunities to work with Fintech, Education, Healthcare, Government & E-commerce sector will dilate worldwide.

[Statistics source: The Computing Technology Industry Association, USA]
Farzana Afrina Tisha is the Head of Marketing, Brain Station 23 Limited and Advisory Board Member, Global Chamber Dhaka

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