BUSINESS China's big data market to continue expansion: report


China's big data market to continue expansion: report


08:26, March 15, 2021

China's big data market will continue to expand in the coming years, driven by the country's economic development and digital transformation, an industry report shows.

Photo taken on May 26, 2018 shows the big data logo outside the venue of the China International Big Data Industry Expo in Guiyang, capital of southwest China's Guizhou Province. (Photo: Xinhua)

The size of China's big data market was estimated to exceed 10 billion U.S. dollars for the first time in 2020, up 15.9 percent year on year, according to a report from global market research firm International Data Corporation (IDC).

Banking, telecommunication and local governments accounted for 38 percent of total spending in the big data market last year, and these sectors will continue to lead in big data spending, read the report.

China will see an upward trend in the big data market as fintech innovation and digital government construction drive the steady growth of industry users' demand for big data, said Wang Limeng, an analyst with IDC.

By 2024, China's big data market size is expected to exceed 20 billion U.S. dollars, representing a 145 percent increase from the level registered in 2019, according to the report.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue