IDC sees 14th Five-Year Plan as cornerstone for China's ICT market

The 14th Five-Year Plan is the cornerstone for China's ICT (Information and Communications Technology) market, said IDC in a recent report forecasting the state of China's ICT market in 2022.

The report highlighted six key words prefaced with "new" generated from the plan, which will fuel the ICT market — technologies, industries, layout, economy, areas and environment.

As per the report, IDC made 10 predictions for the ICT industry, including digital product and services opportunities, cloud distribution, smart forecasts, 5G scenario application, IT budget redistribution based on SaaS and the industrial internet.

IDC said as enterprises are experiencing waves unprecedented in history, vigorous consumer demand, sound digital infrastructure, digital innovation and government stimulus will generate favorable conditions.