Fast Market Research recommends "Hong Kong Information Technology Report Q4 2013" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 11/15/2013 --Hong Kong has one of the most developed IT markets in the world, with a high penetration of products and services, as well as an emerging position as a regional datacentre and cloud services hub. The key sector of the economy will continue to be Hong Kong's large financial services industry, a target for cloud computing providers. Despite this high penetration of products and services we forecast strong medium-term growth as consumers and enterprises adopt the latest trends including cloud computing, tablets and hybrids/convertibles. We forecast IT spending in Hong Kong will reach HKD45.3bn in 2013, with growth of 6.8% in local currency terms. There is, however, downside to this outlook, with a potential hard landing in China likely to severely disrupt Hong Kong's economy and IT market.

View Full Report Details and Table of Contents

Headline Expenditure Projections

Computer Hardware Sales: HKD19.1bn in 2012 to HKD20.3bn in 2013, +6.1% in local currency terms. We expect growth from tablet sales however, as the composition of sales continues to shift from desktops and notebooks to lower-cost tablets.

Software Sales: HKD10.6bn in 2012 to HKD11.3bn in 2013, +6.4% in local currency terms. Enterprise software demand is strong despite high penetration, with deployments increasingly complex. Meanwhile, the launch of Windows 8 will boost sales, particularly as XP support withdrawal comes closer.

IT Services Sales: HKD12.7bn in 2012 to HKD13.8bn in 2013, +8.3% in local currency terms. IT services spending growth is expected to outperform due to rapid uptake of cloud computing applications, including more advanced deployments such as disaster recovery and testing and development.

Key Trends And Developments

The latest Rackspace survey in July 2013 shows Hong Kong has a highly developed local cloud computing market, but there remains a significant growth opportunity. The adoption rate of 84% was higher than in either India (79%) or Singapore (73%), but of the remaining 16% of respondents, 82% stated they planned to use cloud services, with 51% planning to do so in the next 12 months, and another 45% within 24 months. The most popular cloud deployments continued to be relatively basic, including databases (71%), email (65%), back-up (63%), servers (62%) and storage (56%). It is in applications that Hong Kong trails the leading markets of the US and UK where private and hybrid clouds are much more frequently used for disaster recovery, and testing and development. The survey results support BMI's view that the cloud computing market will be a key source of growth over the medium term.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Computer Technology research reports at Fast Market Research

You may also be interested in these related reports:

- Venezuela Information Technology Report Q4 2013
- Egypt Information Technology Report Q4 2013
- Czech Republic Information Technology Report Q4 2013
- Poland Information Technology Report Q4 2013
- Sri Lanka Information Technology Report Q4 2013
- Hungary Information Technology Report Q4 2013
- Germany Information Technology Report Q4 2013
- Philippines Information Technology Report Q4 2013
- Turkey Information Technology Report Q4 2013
- Mexico Information Technology Report Q4 2013