Cloud Computing Market Projections

PROJECTED TO REACH US$103BN

China’s cloud computing industry will grow by at least 30 per cent year on year on average in the coming five years, the latest industry report showed. By 2020, the aggregate market size of the country’s cloud computing industry is expected to hit about US$103.6 billion (about F$213.97bn), according to the Report of Prospects and Investment Strategy Planning on China Cloud Computing Industry (2017-2022) published by Forward Intelligence Co., Ltd., a special market research institute. The country’s cloud computing industry has experienced robust growth since 2010 and its market size reached US$26.85billion (about F$55.45bn) in 2016, up 18.8 per cent year on year, said the report.

The growth was propelled mainly by public departments, who serve both as the customer and the government, as well as by telecom operators, the service provider.

Cloud-based infrastructure or infrastructure-as-a-service (IaaS) is playing a key role in the industrial development, while factors include the adoption of platform-as-a-service (PaaS) and software-as-a-service (SaaS) are also growing fast, according to the report.

The central government attaches great importance to using emerging information technology, including cloud computing and the Internet of Things, to shore up the digital economy, as information consumption, mobile payments and e-commerce grow rapidly in the country. Cloud computing, also called on-demand computing, is the delivery of on-demand computing resources over the internet.

Xinhua