China Computers in use
The China Information Technology Report Q4 2008 , a new market research report, forecasts China’s IT market will grow at a double-digit rate over the next five years, passing $100bn by 2012.
In the short term the unfavorable global economic environment may have some impact on business and consumer demand, with signs of PC sales growth slowing.
These are likely to be temporary setbacks however, as the fundamentals of rising incomes and low PC penetration support strong continued growth.
Total IT spending in China is expected to approach $65 billion in 2008 and grow at a around 12% over the five-year forecast period.
IT spending will continue to receive a boost from major infrastructure projects.
The vast and relatively underdeveloped rural and SME market segments offer great PC sales growth potential.
Major vertical sectors driving double-digit IT spending growth include telecoms, finance, government, energy, social security, education and transport.
The number of Internet subscribers is expected to pass the 200 million mark by 2009, from around 167 million in 2007. However, the penetration rate is still low, at just 13% last year. The number of broadband subscribers will reach a projected 240 million by 2012, overtaking those using a narrowband access service.
Source: LivePR