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Compound growth of China's IT market to reach 8.6 pct in next 5 yrs, IDC
[June 06, 2013]

Compound growth of China's IT market to reach 8.6 pct in next 5 yrs, IDC


SHANGHAI, Jun 06, 2013 (Xinhua via COMTEX) -- China's information technolo gy (IT) market would stop sliding in the second half of this year and keep stable growth over the upcoming five years with a compound growth of 8.6 percent each year, said Huo Jinjie, general manager of the Int ernational Data Corp. (IDC) in China, on Thursday.



Statistics show that global and Chinese IT markets tumble d in the first quarter of 2013, when global personal computer (PC) mar ket witnessed the biggest single-quarter plunge since 1994 with the sh ipment dropping 13.9 percent, and the shipment of China's PC market al so decreased 12.3 percent.

IDC holds that the PC market plunge in China is induced b y sluggish macroeconomic growth in the final quarter of 2012 and the f irst quarter of 2013, when the change of China's central and local adm inistrations influenced the IT hardware procurement considerably, and the measures taken by the government in cutting the "three public cons umptions", namely government departments' spending on public reception , vehicles and overseas trips, and anti-corruption also impacted the P C market.


However, IDC still holds positive attitude on the market in future. Over the upcoming five years, China's export is expected to be stable and the investment and consumption have a large room to gro w, which implies the country will maintain an annual increase of over seven percent each year, thus IDC predicts China's IT market is to gro w faster than the country's gross domestic product (GDP) in the period of 2013-2017 to 8.6 percent.

The growth of China's IT market will be shown in the segm ent sectors. According to Wu Lianfeng, assistant vice president of IDC China, although China's IT market grows slower in general, many segme nt sectors still have huge business potential. Cloud computing, big da ta, mobile Internet and social networking sectors continue to penetrat e into other industries and have boosted relevant hardware, software a nd service markets. The compound growth of the four sectors over the u pcoming five years will be above 30 percent and lead China's IT market growth. (Edited by Luo Jingjing, [email protected])

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