Cloud computing to lift off in China

It has been reported that cloud computing is quickly emerging as one of China’s fastest growing industries. The annual rate of growth has been calculated at 40%.

The nation currently accounts for less than 3% of the global cloud computing market share as it was valued at $90 billion in 2011, however with such a rapid growth this is sure to increase.

It has been estimated that China’s cloud computing market is estimated to grow from about 16.7 billion CNY (£1.67 billion) in 2010 to 117.4 billion CNY (£11.7 billion) in 2013, with a compound annual rate of growth of 91.5%.

This represents a staggeringly fast rate of growth in just a few years. Furthermore, by 2015, the Internet Society of China predicts that the Chinese cloud computing market will be worth 1 trillion CNY.

The majority of this growth is to be …