China is expected to remain Asia’s largest spender in technology, forking out US$256 billion this year and US$273 billion in 2020, as well as lead global markets in 5G where the country’s investments in telecommunications account for 57 percent of its overall tech expenditure. In fact, it has outspent the US by US$24 billion in 5G since 2015, with its three major telcos unveiling plans to launch commercial 5G networks by next year, according to Forrester.
The research firm projected that tech spending in the Chinese market would climb 4 percent this year and 6 percent in 2020, despite ongoing trade tensions with the US that had slowed China’s economic growth. Japan, at US$198 billion, would be the region’s second-largest tech spender this year and, together with China, would contribute 60 percent of the total Asia-Pacific tech budget.