IDC: The overall market size of public services in China in the second half of 2024 is 241.1 billion US dollars, and the market recovery trend is obvious.

According to the report released by the International Data Corporation (IDC), the overall market size of China's public cloud services (IaaS/PaaS/SaaS) in the second half of 2024 is $24.11 billion. Among them, the IaaS market size is $13.21 billion, an increase of 14.4% year-on-year and 11.3% quarter-on-quarter; the PaaS market size is $4.37 billion, an increase of 20.3% year-on-year and 12.2% quarter-on-quarter. Looking at the IaaS+PaaS market, the year-on-year growth in US dollars in the second half of 2024 reached 15.8%, with a quarter-on-quarter growth of 11.5%. Both the year-on-year and quarter-on-quarter growth rates of China's public cloud market have returned to double-digit growth, indicating a clear trend of market recovery. The strong efforts of internet cloud providers in the AI field are an important driving force for the market's recovery.