Cloud computing market in China grew by 10% in 2022

Cloud computing market in mainland China grew in 2022, according to research firm Canalys

year by 10% and amounted to $30.3 billion.Market growth in the fourth quarter was 4%, providing revenues of $7.9 billion, which demonstrates a slowdown in growth. It is noted that this market grew at a significantly higher rate until 2022, the average growth rate for three years was at least 30%. This year, analysts no longer expect such active growth and estimate it at 12%. In China, the top four market players account for 79% of the total volume of this segment. Alibaba is in the first place, it has 36% of the market. It is followed by Huawei, Tencent and Baidu with shares of 19%, 16% and 9% respectively. The business growth of the four leading market players amounted to 9% last year.