The technological revolution of the 21st Century has driven the Telecommunications and Networking sector to surge in leaps and bounds. In general, there are three main segments within the industry, namely manufacturers of telecom equipment, telecom services and wireless communications. The industry is dynamic and ever evolving, driven by factors such as economic growth, technological innovation, increased demand for communication services, and growth of internet and wireless communication.
While Sri Lanka may be struggling to keep the nation’s lights burning, our involvement in the export of Power Generation and Distribution components has not dimmed. Local companies are involved in the development and production of a range of products and services to meet the power needs of international clients. In addition, there are several other sectors that fall under the purview of supporting the Power Industry such as the production of cables, switches, and cooling systems.
In 2022, the electronic and electrical industry achieved a record-breaking earning of USD 450 Mn+. Such performance following a global pandemic is glaring evidence of the resilience of the industry’s export sector.
The automotive market has only expanded during the course of history, except for the great recession in 2008. In fact, the global automotive industry's projected market growth of USD 3800 billion between 2025 and 2030 by Fortune Business Insights justifies the continuous market growth. Half of the market share is of the EV (electrical vehicle) industry, projected to be USD 1507.21 billion by 2028 at a CAGR of 27.2% between 2020-2028.
Adversities with impact on human life will in other forms present opportunities that could also serve humanity in constructive ways. During a pandemic that took the world by surprise and brought the most powerful to their knees, and during the resultant economic downturn universally experienced, global trade no doubt opened new opportunities to those who aspire to see the brighter side of things.
Sri Lanka Export Development Board is organizing Sri Lankan exporter participation at Vietnam Expo - 2022 from 1st to 3rd December 2022, Ho Chi Ming City, Vietnam to promote Ceylon Tea, Processed food, Cosmetics and Personal Care products and Electronic & Electrical products with the participation of 05 export companies.
Sri Lankan Electrical and Electronics industry is progressively stepping into the Global Electronics Value Added Supply Chain with products and services gaining acceptance amongst the most important Global Market Leaders. The Electrical and Electronics industry in Sri Lanka grew significantly over the past 45 years and saw it being gradually elevated to the position a key...