BEIJING, (Xinhua/APP):China’s cloud computing will increase by at least 30 percent year on year on average in the coming five years, the most recent business report showed.By 2020, the aggregate market size of the nation’s cloud computing business is forecast to hit 686.6 billion yuan (roughly 103.6 billion U.S. dollars), 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 nation’s cloud computing business has experienced strong growth since 2010 and its market size reached 178.2 billion yuan in up 18.8 per year on year, stated the report.The expansion was propelled largely by public divisions, who function 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 an essential role in the industrial growth, while factors include the adoption of platform-as-a-service (PaaS) and also software-as-a-service (SaaS) will also be growing fast, according to the report.
The central government attaches great importance to using emerging data , including cloud computing and the Internet of Things, to shore up the digital , as data intake, mobile payments and e-commerce grow rapidly in the country.
The cloud computing market is growing fast worldwide. Last month, American market research firm Gartner’s latest global public cloud solutions revenue prediction revealed the cloud computing market would reach 411 billion U.S. dollars by 2020, driven by strong growth of services including IaaS, PaaS and SaaS, based on websites reports.Cloud computing, also called on-demand computing, would be the delivery of on-demand computing tools over the internet.
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