China ICT Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The China ICT Market is Segmented by Type (Hardware, Software, IT Services, and Telecommunication Services), Size of Enterprise (Small and Medium Enterprises, and Large Enterprises), and Industry Vertical (BFSI, IT and Telecom, Government, Retail and E-commerce, Manufacturing, Energy and Utilities, and Other Industry Verticals). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

China ICT Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

China ICT Market Size

China ICT Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 7.50 %
Market Concentration Medium

Major Players

China ICT Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of China ICT Market with other markets in Technology, Media and Telecom Industry

Automation

Digital Commerce

Electronics

Information Technology

Media and Entertainment

Security & Surveillance

China ICT Market Analysis

The Chinese ICT Market is anticipated to register a 7.5% CAGR growth over the studied time period. China's information and communication technology (ICT) market is one of the economy's most dynamic areas. Future development will be powered by integrating ICT technology into and transforming conventional businesses as China's ICT market matures and specific sub-sectors driving growth (for example, smartphones) are projected to become saturated.

  • Significant obstacles balance substantial prospects for foreign businesses in China's ICT market. Due to fast-developing domestic competition, foreign corporations no longer hold a disproportionately large market share in several of China's ICT subsectors. Chinese companies have a knack for mastering technologies and upending markets, frequently by providing low costs. American businesses are collaborating more to stay competitive. Few people purchase ICT for the first time as the market matures. Due to the shifting of production, the country's cost advantages have also decreased.
  • China's rapid expansion of the ICT industry has been fueled by the country's expanding internet and mobile phone user bases. Over 1.68 billion mobile phone subscriptions were registered in China as of August 2022, according to the National Bureau of Statistics of China. Since 2011, the number of mobile phone users in China has increased dramatically, reaching a new high of more than 1.6 billion users in March 2021. One of the main drivers of expanding the region's studied market is the steadily growing mobile phone sector.
  • China has the most significant number of internet users in the world, surpassing countries like India and the United States. According to World Population reviews, China had 1.02 billion internet users compared to its population of 1.45 billion in January 2022. As the internet is an essential tool for communication, education, and business worldwide, having a large internet user base directly compliments the ICT Market in any region.
  • However, the continuing supply chain disruptions, raw material price fluctuation, and shortage in chips and semiconductors are impacting the growth of the Chinese ICT Market; moreover, it is expected that these disruptions will continue in the coming years. This will further hamper the market as production and sales of ICT are impacted by this, especially in the consumer electronics, PC, laptop, and smartphone industries.
  • Theonset of COVID-19 significantly impacted the market; lockdowns in a number of areas and major cities like Shenzhen and Shanghai affected industry and the supply chain. These have been largely eased, but a rising pandemic wave and new limitations that follow continue to pose a risk to local sales as well as to domestic and foreign supply chains, hurting the Chinese ICT sector as a whole.

China ICT Industry Overview

Competition from Chinese firms is strong, as the quality of domestic hardware, software, and services has continued to improve. As a result, the market is highly fragmented, with both large and small enterprises with International and local players. Some of the leading market players in the country are Tencent Holdings Ltd, Huawei Technologies Co. Ltd, Xiaomi Corporation, ByteDance Ltd, and Alibaba Group Holding Limited.

  • April 2022 - The China Academy of Information and Communication Technology (CAICT) and the World Economic Forum collaborated to hasten the creation and uptake of urban digital twin applications. According to recent research by the World Economic Forum and China Academy of Information and Communication Technology, digital twin technologies hold the key to enhancing urban living and enabling more resilient communities (CAICT). The collaboration would also help address unforeseen problems with data security and quality that are connected to the digital representation of the real world.

China ICT Market Leaders

  1. Xiaomi Corporation

  2. Alibaba Group Holding Limited

  3. Tencent Holdings Ltd

  4. Huawei Technologies Co. Ltd

  5. ByteDance Ltd

  6. *Disclaimer: Major Players sorted in no particular order
China ICT Market Conc..png
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China ICT Market News

  • August 2022 - To bring cloud and ICT offerings to Southeast Asia, mainland China, and Hong Kong, Tencent Cloud teamed up with Acclivis. Tencent Cloud's cloud computing services and business solutions for many sectors, such as financial services, entertainment, gaming, media and entertainment, retail, and more, would be available through the integrated platform. The partnership also offers a one-stop ICT platform with internet services, managed services, and IT end-user support from Acclivis to answer the various and linked demands of every enterprise's journey toward digital transformation.
  • June 2022 - Tanzania would profit from China's assistance in fostering ICT distribution (information and communication technologies). The adoption and advancement of fifth-generation (5G) mobile technology throughout the nation are the main objectives of the partnership agreement that the two parties signed. To install 5G and associated technologies, Tanzania will profit from the experience and knowledge of Chinese technology companies like ZTE.

China ICT Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Market Definition and Scope
  • 1.2 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Stakeholder Analysis
  • 4.3 Industry Attractiveness-Porter's Five Force Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Assessment of the Impact of COVID-19 on the IT Spending

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Internet Penetration and High Speed Internet to Drive the Market
    • 5.1.2 Government Regulations and Plans to Drive the Market
  • 5.2 Market Restrain
    • 5.2.1 Legacy Issues to Hamper the Market Growth

6. KEY TECHNOLOGY INVESTMENTS

  • 6.1 Cloud Technology
  • 6.2 Artificial Intelligence
  • 6.3 Cyber Security
  • 6.4 Digital Services

7. MARKET SEGMENTATION

  • 7.1 By Type
    • 7.1.1 Hardware
    • 7.1.2 Software
    • 7.1.3 IT Services
    • 7.1.4 Telecommunication Services
  • 7.2 By Size of Enterprise
    • 7.2.1 Small and Medium Enterprises
    • 7.2.2 Large Enterprises
  • 7.3 By Industry Vertical
    • 7.3.1 BFSI
    • 7.3.2 IT and Telecom
    • 7.3.3 Government
    • 7.3.4 Retail and E-commerce
    • 7.3.5 Manufacturing
    • 7.3.6 Energy and Utilities
    • 7.3.7 Other Industry Verticals

8. COMPETITIVE LANDSCAPE

  • 8.1 Company Profiles
    • 8.1.1 Tencent Holdings Ltd
    • 8.1.2 Huawei Technologies Co. Ltd
    • 8.1.3 Xiaomi Corporation
    • 8.1.4 ByteDance Ltd
    • 8.1.5 Alibaba Group Holding Limited
    • 8.1.6 Baidu Inc.
    • 8.1.7 JD.com Inc.
    • 8.1.8 China Mobile
    • 8.1.9 DiDi Global
    • 8.1.10 Lenovo
  • *List Not Exhaustive

9. INVESTMENT ANALYSIS

10. FUTURE OF THE MARKET

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China ICT Industry Segmentation

Information and communications technology (ICT) is an abbreviation for information technology (IT). It emphasizes the importance of unified communications and the integration of telecommunications (telephone lines and wireless signals) and computers, as well as the enterprise software, middleware, storage, and audiovisual requirements that are required to enable users to access, store, transmit, understand, and manipulate information.

The Chinese ICT market is segmented by type (hardware, software, it services, and telecommunication services), size of enterprise (small and medium enterprises, and large enterprises), and industry vertical (BFSI, IT and telecom, government, retail and e-commerce, manufacturing, energy and utilities, and other industry verticals). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Type Hardware
Software
IT Services
Telecommunication Services
By Size of Enterprise Small and Medium Enterprises
Large Enterprises
By Industry Vertical BFSI
IT and Telecom
Government
Retail and E-commerce
Manufacturing
Energy and Utilities
Other Industry Verticals
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China ICT Market Research FAQs

What is the current China ICT Market size?

The China ICT Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)

Who are the key players in China ICT Market?

Xiaomi Corporation, Alibaba Group Holding Limited, Tencent Holdings Ltd, Huawei Technologies Co. Ltd and ByteDance Ltd are the major companies operating in the China ICT Market.

What years does this China ICT Market cover?

The report covers the China ICT Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the China ICT Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

China ICT Industry Report

Statistics for the 2024 China ICT market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China ICT analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.