China ICT market to grow steadily: analysts

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BEIJING, Nov 19 – The information and communication technology (ICT) market in China will grow steadily in the upcoming years, analysts with International Data Corporation (IDC) said on Tuesday.

“China’s ICT market will expand at an annual rate of seven percent from 2013 to 2020,” predicted Kitty Fok, managing director of IDC China.

“By 2020, revenue from the information technology market and telecommunication services will both reach 300 billion U.S. dollars,” said the director of the market intelligence firm.

Wu Lianfeng, associate vice president of IDC China, said five factors will decide the future of the business: overall economic strength, government policy, technological progress, industrial restructuring and changes in consumer habits.

Wu said stable economic growth in China in years to come will sustain steady development in ICT. Ambitious targets in shifting the growth model, raising incomes and protecting environment will unlock great opportunities for ICT companies.

Technological progress in robots, 3D printing, the Internet of Things and other related fields will speed up innovation, said Wu.