China's public cloud IaaS+PaaS market reached $4.63 billion in the first quarter, according to the latest data released by Internet Data Center (IDC).
The public cloud IaaS+PaaS market grew 49.08 percent year-over-year in the first quarter of this year, compared to $3.11 billion in the first quarter of last year.
China's IaaS market size was $3.85 billion in the first quarter, up 42.56 percent from the same quarter last year, the data showed.
The market landscape remained stable in the first quarter, with the top five occupying 77 percent of the market share.
Alibaba Cloud ranked first with 40 percent share, while Tencent cloud and Huawei cloud ranked second and third respectively with 11 percent market share. CT Yun of China Telecom and AWS ranked fourth and fifth.
This is little change from the full year of 2020, only CT Yun share contracted 0.7 percentage point, Amazon Web Services (AWS) increased by 1 percentage point, IDC data showed.
China's public cloud market growth rate exceeded the global growth rate. The global public cloud market grew at a rate of 24.1 percent, with a significant gap in growth with the Chinese market, according to the IDC 2020 Global Public Cloud Market Report.
It is expected that by 2024, the global share of China's public cloud services market will increase from 6.5 percent in 2020 to more than 10.5 percent, according to IDC's previous report.
More on Tech Industry
