Digital Bangladesh was once a dream but is now a reality due to the rapid growth of the IT industry.
Introduction
The IT industry in Bangladesh is one of the most promising sectors in the country. It can become one of the primary sources of foreign exchange earnings. The IT sector has also ensured the employment of many youths. The industry has evolved rapidly with direct support from the government. In fact, the government has elaborate plans for a “Digital Bangladesh”.
This study discusses the IT industry in Bangladesh and its rapid growth. The main objective of this study is to analyse future opportunities and some of the most common challenges this industry faces.
The Growth of the IT Industry in Bangladesh
Bangladesh is one of the fastest-growing economies in the world. The country’s IT industry has also grown with the rising economy. Bangladesh is set to become a key hub of IT services and solutions in the future. The neighbouring country, India, has made great progress in this sector. Bangladesh is also not too far behind.
It is predicted that IT revenues will reach $10 billion by 2025. (Connect, 2022) A growing number of foreign companies seeking IT services have chosen Bangladesh. The country now has a good reputation for providing IT solutions and services. The sector is growing rapidly due to several foreign investments and solid support from the government.
Government and Private Initiatives
The government of Bangladesh has taken various steps to ensure a “Digital Bangladesh”. The government has implemented specialised programs to boost the country’s digital integration, such as the Aspire to Innovate (a2i) initiative. (Chowdhury & Beresford, 2017) Initiatives have also been taken to arrange training programs all over the country to educate people about IT skills better. Private organisations and companies have also significantly contributed to the IT industry’s development. Companies like bKash and Daraz have launched mobile applications and solutions that have revolutionised the fintech and e-commerce sectors, respectively. Continuous collaboration between the government and private institutions can further contribute to this industry.
Common IT services in Bangladesh
The IT industry of Bangladesh can be divided into different sub-sectors. Some businesses only focus on one or two specialised services. Others provide a complete package of IT services. In the past, IT professionals in Bangladesh had to work with a limited collection of platforms. But today, a website developer can specialise in WordPress, Laravel, JavaScript or all three platforms.
Some of the major services provided in this industry are:
Coding services
Design solutions
Writing services
Digital marketing services
The industry is rapidly evolving. So there will be a diversification of the IT services available in the country. The competition within the industry will also increase over time.
Opportunities in the Bangladeshi IT Industry
The promising IT sector in Bangladesh has incredible growth opportunities in the coming years. The country now has an established position worldwide. Besides, there are new avenues in this sector. The market has more skilled people than before. The following sections will discuss the top opportunities that the IT industry in Bangladesh should focus on in the near future.
1. Using the Latest Technologies
The country has access to newer and more exciting technologies that can be used to diversify the portfolio of the industry. More IT experts are receiving training in these newer technologies. The benefits of using these technologies should also be promoted to various businesses and industries. Currently, some of the most trending technologies on the IT scene are:
AR/VR
Big data
Cloud services
Machine learning and Artificial Intelligence (AI)
Several companies in the country have started to offer these services. A growing number of Bangladeshi students are also studying these topics abroad.
2. The Freelancing Market
The freelancing sector can be one of the most significant sources of foreign exchange earnings. Youths from all over the country are now involved in freelancing. Today, Bangladeshi freelancers are offering a wide range of IT services. The top freelancers earn a very handsome amount every month. Some of the most common IT services provided through the freelancing market are:
Website and mobile app development
Software development
Digital Marketing
Graphic design and content development
Freelancers are now specialising in one or more of these disciplines. Some are opening IT firms and employing more people in this sector.
3. Collaboration with Other Industries
There are many opportunities for the IT industry to collaborate with the different industries in Bangladesh. Successful IT integration has been implemented in several industries and services. Examples of success stories include ride-sharing apps like Pathao (Pathao: An Emerging Motorcycle-Ride Service in Bangladesh, 2019) or fintech apps like bKash. (bKash: Revolutionizing Mobile Financial Services in Bangladesh?, 2018) Some of the other avenues that have seen significant applications of IT services are:
Education (10 Minutes School, Shikho)
E-commerce (Daraz, Rokomari)
Healthcare (Surokkha, Daktarbhai)
Food delivery services (Food Panda, Pathao Food)
IT professionals are constantly thinking of new ways to address the most common issues in various industries. There will be a more profound role for IT in these industries in the future.
4. The Spread of Internet Facilities
Mobile internet and Wi-Fi services have reached remote regions of Bangladesh. As a result, a much larger population is connected to the internet. IT businesses can look for untapped opportunities in these population segments. The customer segments have not only increased but also diversified. Therefore, the following steps can be taken to utilise the spread of the internet effectively:
Identifying and addressing local IT needs
Introduce new business models to replace the old and inefficient ones
Better promotion of IT services in remote areas
Collaborate with the local population through programs
A growing number of businesses have already started to address local markets with the spread of internet facilities. More competitors will rise in this segment over time.
The major problems faced in the IT sector
Bangladesh has come a long way in its IT journey. However, there are still some significant problems affecting the IT industry. Some of these problems have been around since the birth of this sector. These problems are slowing down the overall development of this industry. The main issues and their impact will now be discussed.
1. Literacy Issues
The country has made significant progress in improving the overall literacy rate. But the 21st century expects more than just a basic literacy level from the people. Most rural citizens still need to learn more about basic ICT terms and concepts. As a result, the country is yet to reach the full potential or application of IT.
2. Sudden Power Cuts
Due to the energy crisis, power cuts have started to appear again. Power cuts can severely hamper IT activities. The negative impact of power cuts can be seen in IT businesses like software companies and website development services. A power cut of an hour means that almost every digital activity stops unless there is an alternative power source.
3. Educational Curriculums
The educational curriculum of Bangladesh is not yet suited to face modern IT challenges. The course curriculums at schools, colleges and universities should be regularly updated to include the latest IT concepts. Most IT enthusiasts pursue self-study options to enrich their IT knowledge. The government is taking various steps to address this issue, but the efforts still need to be improved.
4. Present Infrastructure
The present infrastructure of the IT industry is mainly focused on software. Bangladesh still needs to catch up on the hardware. Asian countries like China are dominating the hardware market. The country also needs the proper communication infrastructure for a growing IT economy. Traffic jams (Khan, 2022) are still one of the biggest infrastructural problems in the country.
5. Availability of Facilities
Various digital solutions, such as cashless transaction platforms and other types of mobile apps, have become popular all over the nation. However, these services have yet to be fully adopted due to inadequate facilities. On the other hand, people working in the IT sector, like freelancers, are also facing some difficulties. For example, PayPal still needs to be implemented in the country. (Rahman & Rahman, 2017)
Conclusion
The IT industry in Bangladesh has a beautiful future. A combination of a hard-working workforce, government support and foreign investments can revolutionise this growing industry. There needs to be cooperation and involvement from all levels to properly integrate society with IT. It can be said that a “Digital Bangladesh” was once a dream but is now a reality due to the rapid growth of the IT industry.
