Company: CHOW
Filing Date: 2025-05-29
Form Type: F-1/A
Source: 0001641172-25-012773
Chunk: 107

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-05-29
Form: F-1/A
Chunk 107
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BFSI, Telecommunications, Manufacturing, Retail & Consumer Goods) and Region - Global Forecast to 2028” published by MarketsandMarkets in December 2023, the size of the global cloud computing market is expected to grow at a compound annual growth rate (“CAGR”) of 15.1% from $626.4 billion in 2023 to $1,266.4 billion in 2028; while according to a research report titled “Asia Pacific Cloud Computing Market Forecast to 2028” published by Technology, Media and Telecommunications in September 2022, the size of the Asia-Pacific cloud computing market is expected to grow at a CAGR of 25.6% from $94.4 billion in 2022 to $370.9 billion in 2028. We believe we enjoy a vast market opportunity, particularly within the commercial segment, where there is a growing need for digital transformation and cloud adoption.

Specifically, according to Gartner’s market research report titled “Market Share Analysis: Infrastructure as a Service, Worldwide, 2023” published in June 2024, the global infrastructure as a service (“IaaS”) market grew at a year-over-year (“YoY”) rate of 16.2% from $120 billion in 2022 to US$140 billion in 2023, and it estimates that Asia-Pacific will represent the most active market. Furthermore, the report titled “Asia/Pacific (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 23.4% in 2024, and is expected to further grow at a YoY rate of 14.2% to reach US$250 billion in 2025 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 21.5% from US$595.7 billion in 2024 to US$723.4 billion in