Web hosting in Sri Lanka has been experiencing significant growth in recent years. This growth is driven by various factors, including customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Sri Lankan customers have shown a growing preference for web hosting services that offer fast loading times, reliable uptime, and excellent customer support. Additionally, customers are increasingly looking for web hosting providers that offer value-added services such as website builders, domain registration, and SSL certificates.
Trends in the market: One of the most significant trends in the Sri Lankan web hosting market is the increasing adoption of cloud hosting solutions. Cloud hosting offers several benefits, including scalability, reliability, and cost-effectiveness. As a result, many businesses in Sri Lanka are turning to cloud hosting solutions to meet their web hosting needs.Another trend in the market is the growing popularity of managed hosting services. Managed hosting providers offer a range of services, including server management, security, and backups, which can be particularly attractive to businesses that lack the technical expertise to manage their own servers.
Local special circumstances: Sri Lanka's rapidly growing e-commerce sector is driving demand for web hosting services. As more businesses move online, the need for reliable web hosting solutions becomes increasingly important. Additionally, Sri Lanka's government has been actively promoting the country as a destination for foreign investment, which has led to an influx of businesses and entrepreneurs looking to establish an online presence.
Underlying macroeconomic factors: Sri Lanka's economy has been growing steadily in recent years, driven by a range of factors, including tourism, manufacturing, and agriculture. This growth has led to an increase in disposable income, which has, in turn, led to increased spending on technology and online services. Additionally, Sri Lanka's government has been investing heavily in infrastructure, including internet connectivity, which has helped to drive the growth of the web hosting market.
Data coverage:
The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
