BUSINESS China's video cloud market soars in 2019


China's video cloud market soars in 2019


17:19, August 01, 2020


(File photo: social media)

BEIJING, Aug. 1 (Xinhua) -- China's video cloud market rose 46.3 percent year on year to reach 4.62 billion U.S. dollars in 2019, according to an industrial report.

Data from global market intelligence firm IDC showed that the market of video cloud solutions logged growth of 53.9 percent during the period, compared to a 45-percent increase for the cloud infrastructure market.

In 2019, the market scale of video cloud solutions in China hit 680 million U.S. dollars with the top five cloud service providers, including Tencent Cloud and Alibaba Cloud, taking a 64.9-percent market share.

During the same period, the country's cloud infrastructure market hit 3.94 billion U.S. dollars, the report showed.

Companies in the video cloud market have gained broader growth space as video technologies are being deeply integrated with many industries, said IDC researcher Wei Yunfeng.

Wei said the industrialization of new technologies such as ultra high definition, 5G and edge computing will continue to inject impetus to the video cloud market.

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