Meet the Four Horsemen of China's Cloud Market
China's public cloud infrastructure market grew 86% in 2018, according to IDC, marking an acceleration from its 72% growth in 2017. The research firm also predicts that China's infrastructure-as-a-service (IaaS) market will scale at a faster rate than the rest of the world over the next five years. That's why China's cloud platform market is now a heated battleground for top tech companies.
However, 80% of that fertile market already belongs to four companies, according to research firm Canalys: Alibaba (NYSE: BABA), Tencent (OTC: TCEHY), Amazon (NASDAQ: AMZN), and Baidu (NASDAQ: BIDU). Let's see how these "four horsemen" of China's cloud market will drive the industry's long-term growth.
Image source: Getty Images.
Alibaba controlled 47% of China's cloud IaaS market at the beginning of the year, according to Canalys. Its total cloud revenue rose 64% annually to 9.29 billion yuan ($1.32 billion) last quarter and accounted for 8% of its top line.
Source Fool.com
