Cloud Computing Market in China

Cloud Computing Market in China

China has put forward the goal of constructing a new generation of information technology and other new growth engines to establish internationally competitive digital industry clusters. Cloud computing is a concentrated reflection of the development of information technology and innovation in service models. It represents a significant transformation and inevitable trend in informationization development. It serves as a strategic vantage point for international competition in the information age and ignites new driving forces for economic development. Cloud computing has sparked innovation in software development and deployment models, becoming a crucial infrastructure for hosting various applications and providing essential support for the development of emerging fields such as big data, the Internet of Things, and artificial intelligence. Accelerating the innovative development of cloud computing, in accordance with the trends of the new round of technological revolution and industrial transformation, is key to advancing the process of China's modernization.

In 2022, the global cloud computing market, represented by IaaS, PaaS, and SaaS, reached a scale of $483.6 billion, with a year-on-year growth of 18.5%. China's cloud computing market has maintained a high growth rate overall. According to Tanalyze Ltd., the market size of China's cloud computing reached USD 67.4 billion in 2022, representing a growth of 34.3% compared to 2021. Compared to the global growth rate of 18.5%, China's cloud computing market is still in a phase of rapid development and demonstrates a relatively high resilience even in the face of a challenging economic environment. It is projected that by 2028, the overall market size of China's cloud computing will surpass USD 313.1 billion dollars.

This report focuses on the new developments and changes in the cloud computing industry over the past year, summarizing the characteristics of global and Chinese cloud computing policies, markets, technologies, applications, and providing an outlook for future development.