Next Stage of Cloud Computing Market in East Asia

Source : Comms8blog

Cloud computing in Asia has significantly pivoted to the next stage where the demand for cloud deployment models has risen and moved from simple back-end functions to core business processes. The cloud market in Asia is projected to grow 117% from USD 133 billion to USD 288 billion in the years between 2020 and 2024, according to GlobalData.

Consumption of cloud services will maintain robust growth in China, driven by continuous expansion of online services and digitalization. Many tech giants expand their businesses from public cloud to private cloud and hybrid cloud. Alibaba cloud, for instance, leads a 40% market share. Besides reporting growth in the internet, retail and public sectors, this top cloud supplier has also been focusing on hybrid cloud with the launch of its hybrid cloud partner programme this year.

Other East Asian countries are also experiencing the growth of hybrid clouds. NTT, a Japanese technology services provider, created a partnership with Taiwanese smart device manufacturer SAP. NTT provided strategic counsel and technical expertise to help the client migrate its SAP software applications to the cloud. The six-year partnership aims to not only support the client with a strategic digital transformation journey, but also enhance business performance with hybrid cloud adoption.

Meanwhile, some popular businesses like EVs boost the demand of cloud-based services. Cloud computing power has been introduced in electric cars, which enable the EV chargers to come equipped with internet connectivity and access to online services such as remote maintenance and payment systems.

It is noticeable that cloud computing has become a fundamental requirement for many companies and businesses. In the digital and 5G era, as enterprises expand their understanding of the enormous benefits of cloud computing, they are now more willing to conduct workload tests on cloud and even migrate entire applications to the cloud. Apart from the EV sector, cloud-based enterprise solution providers should also keep a close eye on other Asia’s popular sectors embracing cloud computing, such as healthcare and K-12 education.