Investment Opportunities of Big Data Technology in China - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The investment opportunities of big data technology in the country are expected to register a CAGR of 30% over the forecast period (2021 - 2026). China’s growth trajectory has begun to slow in spite of the government’s efforts to provide stimulus. The labour costs have risen to make China lose its cost advantage to countries such as Vietnam and Cambodia. To remain ahead of the curve, China’s economy will have to shift to a higher value with big data as one of the tools to empower this shift.
Key HighlightsThe Chinese big data space is in a highly competitive phase. Several startups have come up in the past decade, leaving their imprint on the market. For instance, big data firm Terark founded in 2015, created Terark Database, which is said to have exceeded similar products of Facebook and Google. Several such startups have challenged the earlier dominance of a few significant players making this market a fragmented one. This has also led to major consolidation in this industry with major players trying to gain market share and smaller enterprises looking to scale up. The increasing competition from the west has also forced Chinese companies to look for opportunities across the globe and not limit themselves to China. Some of the recent developments are as follows:-
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook