IDC recently released a report on China's financial cloud market, stating that China's financial cloud market scale reached USD3.34 billion in 2019, a year-on-year increase of 49.6%.

According to the report, China's financial cloud infrastructure market scale reached USD2.35 billion in 2019. For public cloud infrastructure part, Alibaba, Tencent, Baidu, Huawei and China Telecom owned a combined market share of 84.5%; while for the private cloud infrastructure part, Huawei, Inspur, H3C, Dell, and Lenovo owned a combined market share of 77.4%.

During the year of 2019, the Chinese financial cloud solution market scale reached USD980 million. At present, cloud service providers and financial vertical industry solution providers are dominating the platform solution and application solution sub-markets.

IDC said that so far, financial cloud has become a new drive of the industrial IT solution market and it accounted for over 10% of the overall financial industrial IT solution market.