Monday, March 01, 2004
Posted by Peggy
10:58 AM
0 comments
CHINA IT INDUSTRY: SET TO TAKE OFF
China Daily (Hong Kong edition) reported on Feb 11, 2004 that the Chinese IT market is finally taking off after 3 years of slow growth.
An analyst speaking at the 2004 China IT Forum in Beijing said that the Chinese IT market, which includes IT hardware, software and IT services, will grow at an average rate of 18.1% in the next 5 years. This means the market will reach US$92.2 billion in 2008.
Summary of other findings from this report:- Total sales for IT expected to grow to US$48 billion in 2004, which is a 19% YOY growth from US$40.17 billion in 2003.
- Computer sales, which account for 30% of the IT market, will lead the growth at annual average rate of 14.1% from 2004 to 2008. The computer market should stand at US$24 billion in 2008.
- Sale of notebooks forecast to make up 30% of total computer sales in 2008, up from 18% in 2003.
- Shipment of desktop computers will reach 20 million units in 2007 compared to the 11.41 million units in 2003.
- Digital products is the fastest growing segment of the IT market with an expected annual average growth rate of 38.3% in the next 5 years. PDAs and digicams will lead this growth (average rates of 60% and 53% respectively).
- Software market to grow by 2.5 times from last year's US$4.82 billion to US$12 billion in 2008.
- Total IT investment from 2004 - 2008 will amount to US$278 billion (compared to US$169 billion in the last decade).
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