China’s ICT spending for developing and operating digital businesses will exceed US$2 trillion over the next four years, according to IDC.
During an event held in Beijing, China, 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,” explained 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.”
“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.”
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.
