China’s artificial intelligence cloud service market size recorded $ 166 million in 2019, according to the latest AI cloud service report from IDC global market consulting on Tuesday.
According to the report, China’s AI cloud service compound annual growth rate will reach 93.6% from 2018 to 2024. AI capacity has become a vital factor for users when purchasing a cloud service, IDC said.
The AI cloud service has experienced high-speed growth over the past two years. In 2019, the AI public cloud service accounted for 10.3 percent of the Chinese market for artificial intelligence software, while the share in the United States was 15.6 percent. IDC said that regardless of the software market share in China or its comparison with that in the United States, China has a lot of room for improvement.
In terms of quantity of products, most of the major cloud service providers have provided abundant artificial intelligence capabilities in the public cloud service. IDC statistics show that Baidu Cloud and Ali Cloud have offered the most abundant services. In terms of market share in 2019, Baidu Cloud passed the rankings in the AI public cloud service, followed by Ali Cloud and Tencent Cloud. AWS, Huawei Cloud, Azure, Kingsoft Cloud and JD Cloud were also on the list.
As artificial intelligence penetrates the core business of companies of all kinds, the application scenarios will become increasingly diverse, requiring constant innovation and discoveries in technology and application. As for the AI cloud services market, competition will increase to a greater extent in 2020, particularly among the best suppliers, analyzed by IDC.