20130515-China-3D-Printing-Innovation.jpg (Photo : www.on3dprinting.com)
China's market for information and communication technology (ICT) will be observing stable and continued growth in the upcoming years, according to International Data Corporation (IDC) analysts.
IDC China managing director Kitty Fok said that the ICT market in China will grow at a rate of 7 percent every year starting 2013 up to 2020.
The managing director said that the total revenue of the telecommunication services and information technology market in China will reach up to $300 billion by the end of the decade.
IDC China associate vice president Wu Lianfeng mentioned that there are five deciding factors that will drive the future of the ICT market: consumer routine changes, government policy, industrial restructuring, total economic power and technological developments.
The associate vice president of the market statistics firm said that the stability in China's economic growth will help drive the research and development in the ICT market. Wu added that growth model shifts, environment protection and income raises will allow for more opportunities for ICT firms in China.
Wu also said that technological advances in 3D printing, the Internet of Things, robots and other closely related sectors will boost ICT innovation.
The optimistic predictions for the ICT market comes after another good news for the sector.
Brand values for ICT firms in China have increased. For instance, Chinese Web services firm Tencent took the top spot in the 2014 China brand list from Interbrand. Alibaba, China's leading e-commerce firm, landed as the third most valuable brand, according to the list.
