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IT market in China expected to witness growth due to increased government spending

Press release August 12, 2014 China it market, china it industry, it industry china

This report covers the present scenario and the growth prospects of the IT market in China for the period 2014-2018.

The IT market in China overtook Japan’s in IT spending this year to become the world's second largest IT market, according to recent research. China's IT spending has increased by double digits and technology-industry investments continue to be a high priority in this country.

This report, IT Market in China 2014-2018, provides a detailed analysis of the market and focuses on the major players, recent developments and key drivers of the IT market in China.

Market overview

The IT market in China is expected to grow at a CAGR of 10.62% in the period from 2013 to 2018. Recent studies have shown that the total government spending is expected to touch USD 124.5 billion, a 10.5% increase from last year. Experts have opined that this investment is enough to maintain China’s position as the world’s third largest technology market, which will further narrow the gap with industry leaders, the US and Japan. Among emerging economies, it is not far from taking over Brazil and Mexico as the market leader. The demand for personal computers has been growing steadily in the China IT market as compared to the rest of the world. Lenovo, the world's largest supplier of personal computers, has managed to further strengthen its business in this market with a 34% share of total desktop and laptop sales in the financial quarter. Insights from German software company SAP states that increased technology spending by China’s state owned enterprises would pick up after a considerable slowdown in the past several quarters. The total global IT spending by government and businesses is expected to reach USD 2.22 trillion, an increase from the 5.5% last year, with the software market share pooling in USD 568 billion.

Key players

The key players in this market include Digital China Holdings Ltd., Hewlett-Packard Co., Huawei Technologies Co. Ltd., IBM Corp., Lenovo Group Ltd. , Acer Inc., Amazon Web Services Inc., Apple Inc., ASUSTeK ComputerInc., ChinaSoft International, Cisco Systems Inc., Dell Inc., eBay Inc., ECS Holdings Ltd., EMC Corp., Founder Group Co. Ltd, Fujitsu Ltd., Google Inc., Haeir Inc., HewlettPackard Co., HiSoft Technology International Ltd., Hitachi Solutions Ltd., Hon Hai Precision Industry Co. Ltd., IBM Corp., Ingram Micro Inc., Insigma Group Co. Ltd., InspurGroup Co. Ltd., Intel Corp., Kingdee International Software Group Co. Ltd., Kingsoft Corp. Ltd., Microsoft Corp., NetEase Inc., Neusoft Corp., Oracle Corp., Samsung ElectronicsCo. Ltd., SAP AG, SAS Institute Inc., Siemens AG, Toshiba Corp., UFIDA Software Co. Ltd. and Xiaomi Inc.

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China it market, china it industry, it industry china