BEIJING (03/17/2004) - IT spending in China will post an annual composite growth rate of 18.5 percent from 2005 to 2009, according market analyst CCW Research.
The upcoming 5 years will be characterized by the comprehensive deployment of e-government applications,the upgrading of IT infrastructure by large companies, the widespread deployment of information technology by small and medium-sized companies and a battle for market share between foreign and domestic IT vendors, CCW Research said.
In 2003, overall IT spending in China totaled US$30.5 billion, a 11 percent increase over the previous year, CCW Research said. That figure is expected to increase 15 percent to $35 billion in 2004, it said.
Hardware spending will account for about $23 billion of 2004 sales with an annual growth rate of 10 percent. Software and services will account for $6.5 billion and $5.5 billion, respectively, with respective growth rates of 25 percent and 27 percent, CCW Research said.
CCW Research is a division of China Computerworld.