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China IT market: 11.9% CAGR growth forecast between 2012-46

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PR-Inside.com: 2014-03-31 00:01:02
The China IT market is to grow at a CAGR of 11.91 percent over the period 2012-2016. One of the key factors contributing to this market growth is the growing IT talent. The IT market in China has also been witnessing an increasing adoption of cloud- based services. However, increasing piracy in the Software industry could pose a challenge to the growth of this market.

E-commerce facilitates home delivery and provides the comfort of shopping online, thus promoting online shopping in the country. However, e-commerce is curtailed by inhibitors such as fake goods and credit card theft. In addition, various retailers have started offering the cash on delivery payment option, which is likely to help customers overcome the issue of online security theft. Currently, in China the payment systems are safer now. This might increase the growth of e-commerce in China.

One of the major drivers in the market is the growing IT talent. A huge number of IT students graduate from the universities in China every year. Currently, there are more than 2 million software developers in China.

One of the major challenges is the increasing piracy in the Software segment. According to the Business Software Alliance, a non-profit trade association created to improve the goals of Software industry, China is the third largest country in Software piracy.

The key vendors dominating this space include Digital China Holdings Ltd., Hewlett-Packard Co., IBM Corp., Lenovo Group Ltd., Oracle Corp., and SAP AG. The other vendors are Bloombase Technologies Ltd., CDC games, Doremisoft Studio, Founder Information Industry Group, Geomodeling, Inspur Group Co. Ltd., Kingdee International Software Group Co. Ltd., Kingsoft Corp. Ltd., NetEase, Neusoft, Perfect World Co. Ltd., RayooTech, Shanda Games Ltd., Shinetech Software Inc., Siloon Software Group Inc., Sohu Inc., Tencent, UFIDA Software Co. Ltd., YLMF Computer Technology Co. Ltd., Yongyou.

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