China's cloud... 49% growth in the first quarter

According to the Chinese public cloud market report for the first quarter of 2021 released by IDC, the combined market size of infrastructure as a service (IaaS) and platform as a service (PaaS) is estimated to be $4.631 billion (about 5.3 trillion won). It increased by 49.08% compared to the same period last year. In the first quarter of last year, it was $3.17 billion (about 3.5 trillion won).

 

 

By company, Alibaba maintained the overwhelming first place with a 40% market share. It was followed by major Chinese companies such as Tencent (11%), Huawei (11%) and China Telecom (8%). Among the top five companies, the share of Chinese companies exceeded 70%.

 

Amazon was the only foreign company to take fifth place with 7%. The top five companies' share reached 77%.

Compared to last year's annual market share, China Telecom's market share decreased by 0.7 percentage points and Amazon's market share increased by 1 percentage point.

 

 

China is paying attention to the growth of cloud services. In the first quarter of this year, the size of the Chinese IaaS market alone reached $3.847 billion (about 4.4 trillion won), up 42.56% from the same period last year.

 

IDC noted that the growth rate of the Chinese public cloud market is higher than that of the global market. According to IDC's 2020 Global Public Cloud Market Report, the global market's growth rate was 24.1%, lower than China's.

 

 

IDC predicts that in 2024, the global share of China's public cloud service market will increase from 6.5% last year to 10.5%.