China's big data sector to continue steady growth: report

Source:Xinhua Published: 2019/9/15 8:48:37

People visit a display center of the National Big Data Comprehensive Pilot Area in southwest China's Guizhou Province, May 22, 2019. In Guizhou Province, which hosts China's first state-level big data pilot zone, the integration of big data with sectors such as real economy, social management, civil service and rural revitalization has brought significant changes to people's life. According to statistics, Guizhou has more than 9,500 big data enterprises and many of them are active players on the global business stage. A 2019 whitepaper published by the China Academy of Information and Communications Technology indicates that Guizhou is taking advantage of big data in the course of its development, as both the growth of the province's digital economy and the growth of its employment in digital economy have ranked first in China. (Photo: Xinhua)


China's big data sector will continue to post steady expansion by 2023, driven by policy support and technology integration, said a report from the International Data Corporation (IDC).

Revenue of the domestic big data sector is predicted to reach 9.6 billion US dollars this year, and is expected to expand at a compound annual growth rate of 23.5 percent during 2019-2023, said the report.

By 2023, the size of China's big data market is estimated to hit 22.49 billion US dollars.

In 2019, traditional hardware such as server and storage will take up the lion's share of the big data market, followed by information technology services and commercial services.

With the soaring of data, the IDC predicts that artificial intelligence software platform will become the third largest sub-market of the overall big data industry by 2023, replacing commercial services.



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