China’s ICT Spending for Developing and Operating Digital Businesses Will Total Over US$2 Trillion Over the Next Four Years

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For more information, contact:

• Miguel Carreon  Email: mcarreon@idc.com
• Michael De La Cruz  Email: mdelacruz@idc.com

IDC Shares During the IDC Directions Event in Shezhen Its Insights on the Next Phase in the Digital Journey, Leveraging Tech to Scale the Digital Business

Singapore, April 27, 2023 — IDC shared, during its IDC Directions event in Shenzhen, that China’s ICT spending for developing and operating digital businesses will total over US$2 trillion over the next four years. IDC shared expert insights, intelligence, and guidance to hundreds of ICT industry leaders gathered along with local and global IDC analysts.

IDC revealed the next phase in businesses’ digital journey and the latest IT and digital initiatives organizations can leverage to maximize ICT spending and help overcome the economic, political, and social disruptions impacting their business.

"Despite the mounting economic headwinds, we are still in the golden age of technological innovation. Only by creating resiliency and value based on effective use of the continuously evolving innovative technologies can an IT leader that practices the digital-first strategy cope with the storms and truly realize transformation, innovation, and development," said Kitty Fok, Managing Director, IDC China.

“Irrespective of the economy, enterprises will not cut investments in security, customer experience, systems integration services, workspace solutions, as well as infrastructure and IT operations optimization,” Matthew Eastwood, Senior Vice President, Enterprise Infrastructure and Datacenter Research, IDC Worldwide. “We are in a period of transformation from multiplied innovation to intelligent automation, with future digital infrastructure deployments becoming more fragmented and enterprises partnering more with multiple public cloud providers as cloud becomes an operational model,” Eastwood adds.

“ICT vendors can seize business opportunities by partnering with ICT industry leaders to leverage technology to scale their digital business,” said Lianfeng Wu, Vice President and Chief Research Analyst, IDC China. “IDC predicts that by 2026, 40% of the total revenues of Global 2000 companies will come from digital products, services, and experience. To win opportunities from China’s over US$2 trillion ICT spending in the next four years, ICT vendors should work from five dimensions: understanding the macro policy trends, grasping digital technology trends, gaining insight into changes in user needs, developing eco-tech solutions, and delivering quantitative digital value,” Wu Adds

Dr. Antonio Wang, Vice President of IDC China, focused on China's consumer market in his keynote. “In 2023, the first year of the post-pandemic recovery, consumers will still have a lot of anxiety about the future — exchange rates, layoffs, and policy uncertainties are clouding the consumer market. At the same time, the huge consumption base and the long-term positive drivers are obvious reminders that there is still huge potential in China's consumer market over the next five years. New use cases, technological changes and upgrades, and the expansion of the customer base will all become positive factors contributing to the rise of the consumer market amid uneasiness,” said Dr. Wang.

IDC Directions provides an unrivaled platform for exchanging ideas and engaging with IDC’s most prominent local and global analysts. IDC Directions Shenzhen ran two parallel sessions focused on the themes of continuously developing enterprise intelligence and industry ecosystems and addressing opportunities and challenges in the connected world. During the event, IDC shared its insights on Industrial Internet of Things (IIoT), AI, cloud computing, smart city, servers, databases, smart endpoint products, and the development of the semiconductor industry. IDC analysts also engaged participants from leading companies in one-on-one sessions to dive deeper into their challenges and growth opportunities.

The next stops for the IDC Directions events will be the in-person event in Beijing, China on May 10 and the virtual event in Japan on June 15. If you are interested, please register for the Beijing event here  or the Tokyo event here. 

For media inquiries, please contact Miguel Carreon at mcarreon@idc.com or Michael De La Cruz at mdelacruz@idc.com.

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About IDC 

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDCAP and LinkedIn. Subscribe to the IDC Blog for industry news and insights. 

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