China's cloud infrastructure services spending soared to $9.7 billion in Q4 2023, marking a 22% year-over-year increase and capturing 12% of the global cloud expenditure. Throughout 2023, China's cloud market witnessed a 16% growth, a notable rise from 2022's 10%. This momentum is expected to continue, with forecasts predicting an 18% growth in 2024.
In the final quarter of 2023, Alibaba Cloud, Huawei Cloud, and Tencent Cloud—China's leading cloud service providers—dominated the market, collectively achieving a 28% growth and securing a 74% market share.
This dominance is partly due to their emphasis on expanding partner ecosystems. Since the beginning of the year, both Huawei Cloud and Tencent Cloud have hosted partner summits, highlighting the significance of channel-driven sales, which constituted 25% of China's cloud revenue in Q4 2023, a figure anticipated to rise.
During the same period, Alibaba Cloud maintained its market leadership in China with a 39% share, desp...
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