Urbanization opens cloud-computing opportunities
China’s ambitious urbanization plans are a new business opportunity for overseas cloud computing companies as local governments seek smarter ways to manage their cities.
Cloud technology is a model of network computing where a program or application runs on a connected server or servers rather than on a local computing device such as a personal computer, tablet or smartphone.
China is expected to spend at least 2 trillion yuan ($322 billion) on smart city initiatives by 2025, according to industry research firm International Data Corp.
Overseas cloud providers are eager to tap into the emerging market. They have teamed with Chinese providers to offer public cloud services in the country because foreign companies are not allowed to set up public cloud services in China.