Tencent Holdings Limited, the cornerstone of China’s internet value-added services, has disclosed its results for the second quarter and the first half of 2023. The figures highlight an emphasis on business performance, partnerships, and an impressive uptick in user engagement.
artificial intelligence
China’s Digital-Native Businesses’ IT Expenditure Expected to Soar to $40 Billion by 2026
According to IDC’s latest forecast, the IT expenditure of China’s digital-native enterprises, companies with operations, business models, and customer interactions rooted in cloud computing and data, is expected to reach a substantial $40 billion by 2026. This projection is based on an anticipated compound annual growth rate (CAGR) of 23% over the next five years. […]
Baidu Reports Q1 2023 Results: Strong Revenue Growth and Generative AI Expansion
Baidu reported unaudited Q1 2023 financial results showcasing year-on-year revenue growth acceleration, leading to operating margin improvement.
China’s ICT Market Set to Surpass $2 Trillion Over the Next Four Years: IDC Reports
China’s Information and Communications Technology (ICT) spending for developing and operating digital businesses is projected to exceed US$2 trillion over the next four years, according to a report shared by the International Data Corporation (IDC) at its Directions event in Shenzhen. Amid global economic, political, and social disruptions, businesses are expected to leverage the latest […]
China’s Big Data & Analytics Market Set to Double by 2026, Driven by Healthcare, Manufacturing, and Government Sectors
China’s big data and analytics market’s total IT investment in 2022 is approximately $17 billion, doubling to $36.49 billion by 2026, according to an IDC report.
China’s AI Market Booms with Focus on Professional Services, Government, and Finance
China’s AI market spending will grow to $14.75 billion in 2023, accounting for one-tenth of the global total, according to IDC data. Due to the impact of the pandemic, geopolitics, and macroeconomic factors, IDC slightly lowered its forecast for China’s AI market size in 2022, with a growth rate of approximately 17.9% compared to 2021. […]
China’s IoT spending to reach US$298 billion by 2026
In 2021, the global enterprise-level investment in the Internet of Things was about US$681.28 billion, which is expected to increase to 1.1 trillion US dollars in 2026, with a five-year compound growth rate (CAGR) of 10.8%. Affected by the epidemic, IDC slightly reduced the total spend forecast of China’s Internet of Things market in 2022. […]
6 trends of China’s digital economy innovation
In a relatively short time, China has become one of the world’s largest digital economies. Thanks to the support of nearly one billion internet users, China’s e-commerce sales rose to $1.7 trillion in 2020, accounting for about 30% of the country’s total retail sales. But scale is not the whole point of the story. Innovation […]
Top 10 Tech Trends in 2022 according to Baidu
Baidu shares top 10 technology trends in 2022 including large-scale pre-training model, AI for science, AI-powered computational biology, integration of quantum hardware and software, autonomous driving, deep space exploration, human-machine symbiosis, green AI, and Inclusive AI. As we begin 2022, with the global pandemic continuing to bring turmoil and the global economy facing numerous challenges, […]
Baidu launched its metaverse app XiRang
Baidu opened Baidu Create 2021 on 27 December, the first day of a three-day annual flagship developers’ conference on its metaverse app XiRang. The event was also China’s first-ever metaverse technology symposium.
Report: China growth AI companies overview
China’s artificial intelligence (AI) market will reach 205.8 billion yuan (US$31.74 bn) in 2021, with a growth rate of 30%, and exceed 500 billion yuan by 2025, according to a report jointly published by Intel and Deloitte. There are about 5,015 AI-related enterprises in China, including 4484 growth AI enterprises, accounting for about 90% of […]
Top AI companies and platforms in China
China’s AI public cloud service market reached 2.41 billion yuan (US$370 million), accounting for 10.4% of the overall AI software market. IDC estimates that by 2025, the proportion of public cloud services in China’s AI software market will reach 36.1%. China’s AI software market reached 23.09 billion yuan in 2020, about 60% of the US […]
China’s big data market forecast 2021-2024; total spending to exceed US$20 bn by 2024
In 2020, the overall scale of the big data market in China exceeded US$10 billion for the first time, with a year-on-year growth of 15.9% over 2019, according to data from IDC. In the long run, China’s big data expenditure shows a steady growth trend as a whole, and the total market volume is expected […]
70% Chinese enterprises believe China will see V-shaped recovery
More than 60% of Chinese executives say Chinese companies will become more competitive in the face of European and American companies than they used to be. In contrast, 40 percent of North American executives and 45 percent of European executives say the market will be less competitive than China after the outbreak. In recent research […]
Forecast for China’s future connectivity 2021-2024
Digital transformation is not accomplished overnight, and “technology + business” will have a long-term running-in process. The future will be an era of the interconnection of all things, and connection will be the core element of bridging the gap and releasing digital value. IDC releases forecasts for China’s future connectivity. 1. Digital transformation challenges By […]