China’s Cloud Market Shows Signs of Expansion
A report from chinadaily.com.cn on May 17th, 2022:
China’s public cloud markets will continue to expand with a compound annual growth rate of 30.9 percent in the next five years, according to a report by global market consultancy IDC published on Monday.
The company estimated by 2026 China’s public cloud market size will reach $105.76 billion, and its public cloud global share will increase to 9.9 percent compared with 6.7 percent in 2021.
In the second half of 2021, the data showed the country’s public cloud market size stood at $15.13 billion, of which the Infrastructure as a Service market went up 40.1 percent year-on-year and the Platform as a Service market rose by 55.7 percent.
The combined public cloud IaaS and PaaS market was up 43 percent on a yearly basis from July to December last year, a drop of nearly six percent from 48.8 percent in the first half.
Wang Chengyue, an enterprise research manager at IDC China, said though the continuous high growth rate of cloud migration in sectors such as games and online education has been broken, the deepening of digital transformation in enterprises has also brought new opportunities for the public cloud market.
More scenarios, including hybrid cloud, data analysis, internet application and precision marketing, are constantly realized in accordance with the needs of various industries, which provides opportunities for public cloud manufacturers to improve their products, Wang said.