Company: CHOW
Filing Date: 2025-02-28
Form Type: DRS/A
Source: 0001493152-25-008591
Chunk: 117

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-28
Form: DRS/A
Chunk 117
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 wholesalers, who typically procure our cloud solutions to provide services to end users, while our end-user clients primarily include government, public utility companies, non-governmental organizations, small and medium-sized enterprises, large multinational corporations and local enterprises in industries such as financial services, logistics and education. Tenant refers to our clients’ dedicated and isolated space within the cloud environment where their users, data, and resources are stored independently from others, which we help to manage and optimize. We believe that our diverse and extensive customer base provides us with a stable business and diversified sources of revenue.

Going forward, we plan to capture the extensive potential of the cloud computing market in the Asia-Pacific region through our enriching cloud solutions and expanding cloud infrastructure.

OUR MARKET OPPORTUNITY

The global cloud computing market is experiencing unprecedented growth, driven by the increasing demand for flexible, scalable, and cost-effective cloud solutions. According to a research report titled “Cloud Computing Market by Service Model (IaaS, PaaS, SaaS), Deployment Model(Public Cloud, Private Cloud, Hybrid Cloud), Organization Size, Vertical (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