It has been reported that cloud computing is quickly emerging as one of China’s fastest growing industries. The annual rate of growth has been calculated at 40%.
The nation currently accounts for less than 3% of the global cloud computing market share as it was valued at $90 billion in 2011, however with such a rapid growth this is sure to increase.
It has been estimated that China’s cloud computing market is estimated to grow from about 16.7 billion CNY (£1.67 billion) in 2010 to 117.4 billion CNY (£11.7 billion) in 2013, with a compound annual rate of growth of 91.5%.
This represents a staggeringly fast rate of growth in just a few years. Furthermore, by 2015, the Internet Society of China predicts that the Chinese cloud computing market will be worth 1 trillion CNY.
The majority of this growth is to be pushed by the Chinese governments. For example, the “China Cloud”, a National Cloud Computing Industry Development Plan, has been recently approved by the State Council.
A wide range of cloud strategies are covered along with a development strategy, key tasks that need to be carried out, a technology roadmap and supporting systems for China’s cloud computing industry.
In addition, the Ministry of Industry and Information Technology has announced instructions on developing innovative cloud computing services through pilot and demonstration projects. The five cities that are set to pioneer cloud computing services are that of Beijing, Shanghai, Shenzhen, Hangzhou and Wuxi.
China really is pushing a lot into cloud computing it seems as a further 1.5 billion CNY is to be allocated to 12 key projects from the first five cloud computing cities. This has been provided by the National Financial Support Program for Cloud Computing Demonstration Projects.
This program will aim to develop ten cloud computing demonstration enterprises in the next three years, each with over 10 million users and an annual revenue of more than 5 billion CNY.