China to overtake Japan in IT spend next year: IDCMay 17 - 4pm
China is set to overtake Japan as the biggest spender on IT goods and services in the Asia-Pacific region by 2013, according to industry analysts IDC.
The growing country is forecast to reach US$173 billion in IT spending next year, while Japan’s will be around US$165 billion.
The figures include both consumer IT and business IT, both of which are growing in China at a phenomenal rate.
On the consumer side, sales of smartphones and tablets will continue to grow, as the country’s economic performance drives greater spending power among its citizens.
Meanwhile in business, the 12th Five Year Plan introduced by the Chinese government last year will drive spending through major projects like the rapid development of ecommerce, according to Kitty Fok, country manager of IDC China and VP for IDC’s Greater China research.
“The total IT investment during the 12th Five Year Plan period will grow more than that in the 11th Five-Year Plan period,” Fok says.
“Electronic payment and online shopping will boost investment in banking infrastructure, and online shopping will not only drive investment by professional ecommerce companies but also encourage infrastructure investment by manufacturing, retail, tourism, finance and other companies.”