Company: CHOW
Filing Date: 2025-02-28
Form Type: DRS/A
Source: 0001493152-25-008591
Chunk: 118

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-28
Form: DRS/A
Chunk 118
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 (Excluding Japan) Whole Cloud Services Forecast, 2024—2027” published by International Data Corporation (“IDC”) in March 2024 stated that Asia-Pacific is experiencing a double-headed IT spending boom, with public cloud services and software investments skyrocketing. According to IDC, cloud spending is forecasted to reach US$329.1 billion by 2027; while cloud spending in Asia-Pacific grew at a YoY rate of 10% in 2023, and is expected to further grow at a YoY rate of 23.4% to reach US$200 billion in 2024 as cloud-related spending continues to accelerate. In particular, according to a research report titled “Forecast: Public Cloud Services, Worldwide, 2022-2028, 1Q24 Update” published by Gartner in March 2024, end-user spending on public cloud services is forecasted to grow at a YoY rate of 20.4% from US$561 billion in 2023 to US$675.4 billion in 2024, driven by generative AI (“GenAI”) and application modernization.

Moreover, according to a research report titled “Cloud Managed Services Market by Service Type (Managed Business, Managed Network, Managed Security, Managed Infrastructure, Managed Mobility), Organization Size, Vertical (BFSI, Telecom, Retail & Consumer Goods, IT) and Region - Global Forecast to 2027” published by MarketsandMarkets in October 2022, the size of the global cloud managed services market is expected to grow at a CAGR of 10.6% from US$99.0 billion in 2022 to US$164.0 billion by 2027. Such report also stated that the growing demand for cloud managed services among enterprises and inadequate cloud expertise among IT professionals are likely to drive the demand for cloud managed services.

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This rapid growth presents a significant opportunity for us, particularly in the Asia-Pacific region, where cloud adoption rates are increasing at an even faster pace. The commercial segment, which is our primary focus, represents a substantial portion of this market and is expected to grow at an even higher CAGR due to their increasing need for digital transformation and cloud-based solutions. We believe that we are well-positioned to capture a slice of the fast-growing cloud computing market opportunity in the Asia-Pacific with our expertise and solution in digital transformation and cloud adoption.

OUR COMPETITIVE STRENGTHS

We believe that the following competitive strengths are essential for our success