Cloud Computing Is a Major Change and an Inevitable Trend in the Development of Information Technology

Cloud computing is a kind of service related to information technology, software and the Internet. Its core is to provide users with fast and secure services and data storage based on the Internet.  In essence, cloud computing is a way of sharing resources and services. On the cloud computing platform, hardware resources, network and application environment can be allocated and called anytime, anywhere, on demand and in quantity.  Any IT service that conforms to the above concept can be called a cloud computing service.  Cloud computing services generally fall into three categories: Software as a Service (SaaS), infrastructure as a Service (IaaS) and platform as a Service (PaaS).  SaaS focuses on delivering complete, ready-to-use software applications that run on top of a cloud infrastructure and are accessible through a variety of client devices;  IaaS provides virtual computing resources to users.  PaaS aims to give developers a platform to build applications and services over the global Internet.  
Cloud computing is the core technology of the current digital era. It can realize the coordinated development of various complex businesses, and its important role is self-evident.  As a kind of digital infrastructure, after years of development, it has gradually become the core competitiveness between countries and between enterprises.  Data show that in recent years, the size of the global cloud computing market has been increasing year by year. Although the growth rate was slow from 2019 to 2020 due to the impact of the epidemic, with the recovery of the economy, the impact of the global cloud computing market has gradually weakened, and by 2021, it has basically recovered to the pre-epidemic growth level.  In 2021, the global public cloud market represented by PaaS, IaaS and Saas reached $330.7 billion, an increase of $81 billion compared with 2020, with a year-on-year growth of 32.44%, in which Paas accounted for 26.28%, IaaS 27.70% and SaaS 46.02%. 

Source: Market Monitor Co., Limited

From the perspective of the domestic market, with the digital transformation of the whole society, the penetration rate of cloud computing has increased significantly, and the market scale continues to expand, and the cloud computing industry in China presents a sound trend of steady development.  In 2021, the overall market size of cloud computing reached $49.68 billion, with a year-on-year growth of 54.42%;  By 2022, the scale of China\'s cloud computing will increase to $70.03 billion with a year-on-year growth of 40.96%. 

Source: CAICT, Market Monitor Co., Limited

At present, as cloud computing plays an increasingly significant role in supporting big data, artificial intelligence and other technologies, cloud computing has gradually begun to develop from the early IaaS to PaaS and SaaS fields. This process will continuously improve the added value of cloud computing products. At this time, cloud computing is no longer synonymous with "cheap computing power".  In turn, it has become an important bridge for enterprises to embrace the industrial Internet.  In the context of the development of industrial Internet, the added value of cloud computing will gradually increase, and the comprehensive landing of cloud computing also provides an important scene support for the landing of big data and artificial intelligence products.  Cloud computing is the concentrated embodiment of information technology development and service model innovation, as well as a major change and inevitable trend of informatization development. With the rapid development of cloud computing market and the strong support of national policies, cloud computing industry will face good development opportunities in the future.

For more information on the industry, please refer to the latest Global and Regional Cloud Computing Market Details Research Report 2023-2028released by Market Monitor Co., Limited.
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