Despite rapid growth, China’s cloud-computing market has a long way to go to catch up with the United States.
That’s the conclusion of a report published Saturday by the International Institute of Technology and Economy (IITE), a nonprofit research organ affiliated to the State Council, China’s cabinet.
Although the value of China’s cloud computing market grew 39.2% year-on-year in 2018 to 96.3 billion yuan ($13.6 billion), its total size only represented around 8% of the U.S. market during the same year, the report says.
The sector’s callowness was also illustrated in the relatively low uptake of cloud computing by Chinese companies. Only around 40% of companies in China used cloud services in 2018, a significantly lower proportion than the 85% of American firms and 70% of E.U. firms that did so, IITE deputy chief Qu Shuangshi said Saturday.
Read the full story on Caixin Global later today.
Contact reporter Isabelle Li (email@example.com)