$26.44 billion.. Volume of The Chinese artificial intelligence market in 2026
Chinese Artificial Intelligence market report to reach USD 26 billion in 2026
Shrouq
A report issued by IDC International Data, a global market research firm, said that the size of the Chinese artificial intelligence market will reach $26.44 billion in 2026, according to Xinhua.
The report added that the spending volume in the Chinese artificial intelligence market is expected to reach $14.75 billion in 2023, accounting for about 10 percent of the global total.
The report also predicted that the annual growth rate of the Chinese artificial intelligence market will exceed 20% in the period between 2021-2026.
Chinese big data market
In a related context, a report issued by (IDC) showed that the Chinese big data market will continue to expand in the coming years, thanks to economic development and the transformation of digitization in the country.
Investment in information technology
According to the report, China's big data market will see an investment of $17 billion in information technology in 2022.
The report indicated that governments, banks, professional services and communications accounted for more than 60% of total spending in the big data market.
The Chinese big data market is expected to account for nearly 8 percent of the global total by 2026, according to the report.
In related context, companies' enthusiasm for digitization will help stimulate diversified demands in the Chinese market.
