China cloud computing market grew 40% year over year, report claims
The cloud computing ecosystem in China continues to grow; according to a new report the market size rose almost 40% in 2018.
As reported by Xinhua, the China Academy of Information and Communications Technology (CAICT) pegged the Chinese cloud market at 96.28 billian yuan (£11.14bn) last year in its most recent whitepaper, up 39.2% from 2017. The market will almost double in size between now and 2022, CAICT added, forecast to reach 173.1bn yuan.
Regarding the private cloud, the whitepaper put that at 52.5bn yuan for 2018 – up 23.1% year on year – and is expected to reach 117.2bn yuan by 2022.
By 2020, according to a recent missive from the Ministry of Industry and Information Technology, there will be an additional one million enterprises utilising cloud computing in China.
It is one of various proclamations which underscore the country’s potential. According to the most recent analysis from the Asia Cloud Computing Association (ACCA), in April last year, China placed only above Vietnam in a comparison of the primary Asia-Pacific nations. The majority of the problems cited by ACCA relate to China’s size and the long tail of digital transformation, with the country scoring poorly on infrastructure and connectivity.
“The Chinese government continues to devote considerable fiscal resources to the development and improvement of infrastructure, a move that will undoubtedly pay off in the next few years,” the report noted.