The cloud computing for video market in China reached US$46.5 million in 2018, with Alibaba Cloud being the biggest vendor (42.5%). 80% of China's leading live streaming sites or apps are using Alibaba Cloud to power their operations.
The cloud computing for video market totaled 3.12 billion yuan (US$466.13 million) market in 2018, an increase of 36.2% year-on-year. This market is projected to maintain strong growth momentum in the next five years and reach 9.32 billion yuan (US$1.39 bn) by 2023.
Promoted by widespread new technologies like 4K and VR, the cloud computing for video are being applied to more and more usage scenarios, especially in pan-entertainment (48.5%), general office of Broadcasting and Television and new media (22.7%), and online education (11.4%).
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