By 2000, the IT Market in China Will Be Valued at US$15Billion IDC
Kemble:
Here is little something to chew on,from IDC
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FRAMINGHAM, Mass., June 1, 1999 - China's IT market is the fastest growing IT market in Asia with a 1998-2003 compound annual growth rate (CAGR) of 27.8%. In 1998, the overall IT market in China reached US$9.24 billion, which enabled China's IT market to surpass Korea and become the second largest in the Asia/Pacific region (excluding Japan). IDC expects China to pull ahead of Australia and become the largest IT market in the region by 2000.
"Although China experienced low growth in the last five years, we expect that by 2003, China will represent approximately one-third of the total IT market in the Asia/Pacific region, excluding Japan," said Jared Peterson, Research Director for IDC China. "Hardware tends to overshadow other segments of the market, but IDC has witnessed strong growth in the data communications equipment, packaged software, and IT services areas, and we expect this trend to continue."
In 1998, hardware accounted for 85.9% of China's total IT market. Data communications equipment, which represented 8.2% of the market, reached US$1.175 billion, an increase of 40.9% over the previous year while IT services experienced an increase of 50% and accounted for 5.9% of the total market.
Finance continued to be the largest vertical industry in China, accounting for 32.2% of total IT spending. This was followed by telecom and transportation at 18.1% and 10.1%, respectively. |
