CHART: Cloud services spend in China hit $7.8 billion in Q3 2022
Cloud infrastructure services expenditure in mainland China grew 8% year-on-year in Q3 2022, reaching $7.8 billion and accounting for 12% of overall global cloud spend, per the analyst firm, Canalys, in a report.
The annual growth rate in the Chinese market has continued to slow for three consecutive quarters, now, falling below 10%, for the first time. Despite business activities resuming recently, the aftermath of the COVID-19 pandemic continues to linger, leading enterprise customers to scale back on IT services to reduce their operational risks.
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