Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

TRENDING
Casino Giant Galaxy Entertainment’s H1 Profit Drops 7% as High-Rollers Stay Away
Chinese App-Makers Smell Opportunities in Strict Trash-Sorting Rules
Tencent Posts 35% Profit Rise on Reviving Game Releases
LATEST
Cathay Pacific CEO Hogg Resigns Amid Hong Kong Protests
Ninebot’s New Scooter Can Drive Itself Back to Charging Stations
Oppo to Unveil New Smartphone With 20x Zoom
Chinese Companies Usher in Age of Synthetic Meat
Record-Smashing Chinese Animation to Get Overseas Releases
WTO to Arbitrate China’s Complaints About U.S. Solar-Cell Tariffs
Vipshop Stock Soars After Q2 Results Beat Expectations
Japan Replaces China as Largest Holder of U.S. Government Debt
Huawei’s First 5G Commercial Phone Gets Warm Response Despite Limited Networks
AI Startup Plans IPO at Value of at Least $1 Billion — in China
Alibaba Q2 Revenue Jumps 42%, Beating Estimates But Slower Than Year Earlier
Baidu’s $66 Billion Dive Knocks It Out of China’s Internet Top 5
Beijing Grants Foreign Investors Wider Access to Entertainment Industry
Tencent-Backed Maoyan Turns Profit on Strong Ad Growth
Chinese App-Makers Smell Opportunities in Strict Trash-Sorting Rules
Casino Giant Galaxy Entertainment’s H1 Profit Drops 7% as High-Rollers Stay Away
Chinese Internet Sector Grows 17.9% Year-on-Year: MIIT
Xiaomi Receives Licenses for Second 5G Phone
Coal Industry Looks to Robots for Increased Safety
No Investor Love for Tencent, Lenovo and Luckin in Latest Reports
China’s Cloud Computing Market Had Record Growth, Report Says

By Tang Ziyi / Jul 18, 2019 04:49 AM / Business & Tech

Photo: VCG

Photo: VCG

China’s cloud computing market continued explosive growth in 2018, according to a report, as tech giants gear up to develop platforms that allow people to access and store information using off-site servers.

The country’s Infrastructure as a Service (IaaS) public cloud market grew 86.1% year-on-year to $4.65 billion, according to data released Wednesday by the research firm IDC. The global market expanded 45%. In 2017, China’s IaaS public cloud market increased 72% year-on-year.

IaaS, one of three cloud popular service models, provides storage and networking power for corporate clients to build their own applications. The two others, Platform as a Service and Software as a Service, are more like layers on top of IaaS and provide servers and applications built for company clients.

China’s IaaS market scale is expected to grow faster than that of the rest of the world over the next five years, said Zhuge Lan, industry analyst at IDC. The domestic market now accounts for 12.9% of the global market, up from 10.1% the year before.

Cloud service is seen as the next battleground for Chinese tech titans. E-commerce giant Alibaba tapped the market in 2009 as one of the earliest players in China. Latecomers include social media giant Tencent Holding Ltd., telecom operator China Telecom and software group Kingsoft Corp. Ltd.

In September, Tencent announced a plan to revamp its business structure, creating a new division devoted to cloud computing and data services for corporate customers.

Related: Battle for the Cloud

Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.