Company: CHOW
Filing Date: 2025-04-01
Form Type: F-1
Source: 0001641172-25-001938
Chunk: 115

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-04-01
Form: F-1
Chunk 115
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 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 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