According to the latest forecast data released by IDC’s “2023 V1 Global Big Data Spending Guide,” China’s IT investment in the big data market is expected to reach approximately $17 billion in 2022, doubling to $36.49 billion in 2026. The Chinese market’s share of the global total scale will continue to rise during the five-year forecast period. It is expected to surpass the total of the Asia-Pacific region excluding China and Japan in 2024, and approach 8% of the global total scale in 2026.

“China’s market maintains strong growth due to new policies such as Digital China, Data Elements, Big Data, and major projects landing. Additionally, there is a further release of enterprise project demand after the epidemic, and the demand for data value mining in various industry sectors after completing basic information construction. The big data market is about to usher in a new outbreak stage.”

Dr. Wu also explained that the Databroker International Data Trade Consulting Platform was created in response to this background. It has powerful domestic and international data trading information integration capabilities.The platform not only connects international well-known data trading platform information with the data trading network established by Mr. Zhang Yao, a well-known entrepreneur in China, but also provides the latest data dynamics for domestic and international data supply and demand sides. It integrates data strategic consulting methods to diagnose and guide the value of data processing.

The platform has also established a data collaboration mechanism with the well-known Chinese digital economy intelligence alliance community. This alliance is composed of industry leaders who focus on integrating industry data from various associations, building upon each other’s work, and using smart contracts to help companies effectively convert data into assets for transactions and assist companies in going global.

Dr. Ta-yu Wu is a senior expert in innovation management and digital transformation in China, providing training and consulting services in innovation management and digital transformation to Fortune 500 companies. He is a member of the International Digital Asset Standards Management Committee and initiated and drafted the Chinese Digital Governance Expert Team Standards, as well as the Chinese Digital Asset Management and Personnel Governance Standards. In 2022, he worked with the Greater Bay Area Digital Economy Quality Management Promotion Association to jointly develop China’s first Chief Digital Officer talent standard.

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