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SMAC sectors set to grow average 22%
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Social networks, mobile Internet, analysis of big data and cloud computing, referred to as SMAC, are slated to be the fastest-growing sectors in China’s information and communication technology (ICT) industry, a research firm said yesterday.
The SMAC market will be worth up to US$195.4 billion between 2013 and 2020, or an average annual growth of 22 percent which is more than double the 7.7 percent annual ICT gain in the period and nearly three times the economic expansion of 7 percent, according to US-based IDC.
“Government policies and economic transformation lay a favorable market foundation for China’s ICT market, especially SMAC, with boundless business opportunities in 2020,” Kitty Fok, managing director of IDC China, said in Shanghai yesterday.
Wu Lianfeng, IDC China’s vice president, predicted that investment and revenue of cloud computing and big data will rise if multinational corporations can set up cloud computing data centers in Shanghai’s pilot free trade zone.
A booming mobile Internet, more IT consumption by consumers and government policies to develop smart cities and accelerate the broadband speed nationwide are seen as driving the ICT market.
By 2020, there are likely 840 million Internet users in China, according to IDC.
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