Market Size of Investment Opportunities of Big Data Technology in China
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 30.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Big Data Technology Investment Opportunities Market Analysis
The investment opportunities of big data technology in china will register a CAGR of 30% over the forecast period. Big data technology's increasing uptake is credited with driving the market's expansion because it provides vital information about the highly prized consumer sector of the nation.
- Various organizations in the country are also investing significantly in adopting Big Data. The Internet search company Baidu, e-commerce companies Alibaba and JD, and social media company Tencent developed their business models and operations around Big Data.
- Furthermore, Big Data Analytics in China assists businesses in two ways: creating newer business models and effective product/production planning. China is experiencing an extensive use of mobile payment systems as a business model, bypassing the card generation of technology. Such mobile payment platforms facilitate the generation of data and simple integration for many online to offline services.
- To maximize the adoption of Big Data, companies in China are launching all-in-one Big Data platforms for data management. Similarly, users have witnessed an improvement in their revenue statistics by adopting such technologies.
- The companies in China have been slower to adopt cloud computing compared to the US firms, citing the complexity and cost of workload migrations and added security and regulatory issues.
- Moreover, The requirement to extract, visualize, and act on this intelligence in near-real-time is gradually becoming a mission-critical goal, particularly amid the COVID-19 epidemic, including efforts to restrict its spread and aid firms in staying afloat. Since many businesses have started to adopt work-from-home and remote working cultures, which produce enormous volumes of data and open up new opportunities for data analytics, the big data and business analytics industry is expected to grow.
