The Information Technology storage market in China will see a robust increase in the coming three years, said a senior IT analyst with the International Data Corporation (IDC), a worldwide IT market research firm.
Wilson Wan, IDC China's deputy general manager, predicted that by the year 2005, spending by Chinese enterprises on storage will be four times the current expenditure.
According to IDC's forecast, the sales of storage products will grow at an average rate of 14 per cent a year by 2005, while the shipment of storage products will grow by more than 80 per cent every year.
"The revenue from the storage market exceeded US$587 million last year and it is expected to be over US$655 million this year," said Wan.
He believes that continuously decreasing costs will greatly stimulate the market demand.
He also predicted that China's network storage market will grow at an annual rate of 17.9 per cent, with market value exceeding US$830 million by the year 2005.
With the rosy picture of the market, both international and domestic companies have been paying more attention to opportunities in China.
The International Data Group has introduced its worldwide Storage Networking World to the country to provide storage solutions and services to China's enterprises and organizations.
Its exhibition, entitled Storage Networking World/China 2002, will be held in late May in Beijing, Shanghai and Guangzhou respectively.
The US-based Advanced Digital Information Corporation is also eyeing this market.
(People's Daily May 6, 2002)