China to Account for One-third of APAC Cloud Computing Market by 2023.

 
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GlobalData

With the increasing presence of 'hyper-scale' cloud providers in big data, analytics, artificial intelligence (Al) and Internet of Things (loT), cloud has emerged as a compelling proposition for the enterprises and governments alike.

Against this back drop, China is forecast to account for nearly onethird of the overall AsiaPacific (APAC) cloud computing market by 2023, says GlobalData, a data and analytics company.

According to GlobalData's Market Opportunity Forecasts Model, China, Japan and India will continue to drive the cloud computing market in the APAC region and account for two-thirds of the overall region's cloud computing market in 2023.

Sunil Kumar Verma, Lead ICT Analyst at GlobalData, comments: "Cloud computing market in China is forecast to reach US$84bn by year-end 2023. Favorable regulatory landscape, growing adoption of cloud by enterprises and the emergence of 'glocal' cloud powerhouses such as Alibaba, Tencent and China Telecom will drive the market growth in the country."

In Japan, the establishment of Japan Cloud Consortium (JCC) organization in 2010 to promote the adoption of cloud services is bearing positive results. Cloud computing revenue in Japan is estimated to grow at a CAGR of 20.7% during 2018-2023 to reach US$69bn in 2023.

Verma adds: "Support from the Government, increased investment in ICT infrastructure by public/private enterprises coupled with increasing adoption of cloud services amongst the small and medium-sized enterprises (SMEs) will provide thrust to the growth of cloud in Japan." In India, which is home to the world's second...

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