China's ICT Market Will Exceed US$700 Billion Next Year
According to the latest forecast by IDC, the ICT market in China (including the third platform and innovation accelerator technology) will reach US$711.1 billion in 2021, which will increase by 9.3% compared with 2020 and return to relatively rapid growth after the epidemic. Total spending on digital transformation from 2021 to 2024 will reach us US$1.5 trillion, with an average annual growth rate of 17%. A person in charge at IDC said that from a global perspective, the external driving factors affecting the economic and technological market in 2021 include: accelerated subversion of the epidemic, adjustment of innovation strategies, the next new normal, intelligence ubiquitous, geopolitical risks, globalization rethinking, digital ecological platform, future crisis of trust, redefining customers, increasing digital divide, transformation of future work and creating learning organization. Technology will lead us to the next normal and play a bigger role. IDC said that considering the keywords of China's "14thFive-Year Plan " and industry users’ greater attention to the digital economy and consumption upgrading during 14thFive-Year Plan period, six permanent changes are foreseeable in ICT market under the next normal, namely: financial predictability and flexibility, the digital-first customer interaction model, the new normal of home office and remote work,technology-enabled operating models, new business continuity plan and data driven business model. The China Academy of Information and Communication Technology pointed out that ICT technology is closely related to the digital economy, and ICT technologies such as artificial intelligence, orbiting satellites and autonomous driving constitute the foundation of the digital economy. Although the ICT industry is mainly driven by endogenous demand, it is more likely to fluctuate due to the impact of innovative factors such as international developments, global pandemic, policies and regulations in the new situation. As a result, emerging technology governance, privacy protection, supply chain security and other issues have become increasingly prominent.