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May 19, 2017

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Chinese IT industry eyes new growth

DIGITAL transformation and technologies like 3D printing and robot will become new growth engines of the Chinese IT industry, International Data Corp said yesterday in Shanghai.

The Belt and Road initiative is also expected to trigger around US$200 billion worth of investment in information technology annually, powering the domestic IT market and bringing opportunities to state-owned firms and telecommunication giants like Huawei and ZTE, said IDC, a US-based IT research firm.

Robot, 3D printing, Internet of Things, virtual reality, cognitive system and next-generation security represent the new economic growth. The six sectors will create a market of US$384.9 billion in 2018 in China, surpassing the United States to become the world’s No. 1 digital economy, IDC said.

China’s IT market revenue will be US$462 billion in 2019, rising an average of 3 percent annually, IDC forecast.



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