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Jan 2018 - Market Presentation - Doc # AP43454318

1H17 Country Report on IT Services – Hong Kong

Author: Liew Siew Choon
Senior Market Analyst, Services, IDC Asia/Pacific
On-line Presentation

Abstract

This IDC Presentation provides a detailed analysis of the market and competitive landscape in IT services in Hong Kong from January to June 2017 (1H17). It covers the market size movements and growth trends in each of the macromarkets (i.e., project-oriented, outsourcing, and support and training services) as well as the key industries such as finance, manufacturing and resources, public sector, distribution and services, and infrastructure. The report also provides a market and vendor analysis of 3rd Platform technologies as the key market drivers. The competitive analysis section includes key strategies and activities of large global and local IT services providers in the market.

The data and insights within this presentation are a part of the "Asia/Pacific Semiannual Services Tracker" research, which covers 14 foundation markets across 14 Asia/Pacific countries.

Underpinned by resilient domestic demand and improved external demand, Hong Kong's gross domestic product (GDP) recorded strong growth in the first half of 2017. Business sentiment has improved slightly and has positively impacted the overall IT services market.

Existing blockchain-related solution implementations in the financial industry are limited to non–mission critical workloads as there are no changes in regulations and compliances. Moving forward, major banks will seek approval from Hong Kong Monetary Authority (HKMA) to use blockchain in a broader scope.

Although the Kowloon East district has already rolled out four Smart City pilot projects, the Smart City consultancy study for Hong Kong has just been completed. A detailed blueprint is to be released by the end of 2017, while six pilot projects are to be rolled out in 2018. Significant impact from both district-level and city-level Smart City projects is expected to take place by 2H18, due to the involvement of multiple bureaus and departments that will cause a delay in the approval process for IT projects.

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