China's cloud infrastructure service spending reached $9.4 billion in the second quarter of 2024, marking an 8% year-on-year growth, according to the latest data from Canalys.
The country's leading cloud providers—Alibaba Cloud, Huawei Cloud, and Tencent Cloud—dominate the market, collectively holding a 71% share.
Despite broader macroeconomic conditions slowing growth in some sectors, cloud service clients, especially those prioritizing digital transformation, have significantly increased their spending, driven by advancements in artificial intelligence (AI).
Major Players in the Chinese Cloud Market
Alibaba Cloud remains the leader with a 36% market share. The company's overall growth in the second quarter was fueled by its public cloud business, which experienced double-digit growth.
Alibaba Cloud's resurgence has been further bolstered by the success of its AI products, with record numbers of paying users, showing a 200% quarterly increase. Additionally, reve...
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