Sri Lanka has made significant progress in its IoT (Internet of Things) ventures says a research report filed by www.wiseguyreports.com.
According to the report, in 2018 the Board of Investment of Sri Lanka formally approved a significant investment for network expansion and upgrades work on 4G mobile and fixed broadband services.
Sri Lanka has seen a very strong increase in mobile broadband penetration over the past five years. Report says that in contrast, fixed broadband penetration in Sri Lanka remains very low mainly due to the dominance of the mobile platform and the limited and declining number of fixed lines is restricting more widespread development of fixed broadband. However, the market has grown strongly over the past five years from a very small base.
Over the next five years till 2023, the strong growth is expected to continue.
Sri Lanka’s mobile market has experienced strong growth over the last six years. Slow growth is predicted over the next five years till 2023. The market will be constrained from higher growth due to very strong local competition and a highly saturated mobile market.
Source: http://www.dailynews.lk/2018/12/18/business/171653/sl-makes-strong-progress-iot