Pingan Technology bets more on cloud
Pingan Technology, which signs cooperation with IT firms Inspur and Github, will become China’s top public cloud provider in five vertical industries within three years, Shanghai Daily learned today.
The “five eco-systems” includes finance, healthcare, smart city, real estate and auto markets, said Ericson Chan, Pingan Technology CEO.
Chan also expected the revenue of technology of Ping An to double annually within next three years thanks to growth in cloud and AI businesses.
In 2023, the size of China’s IaaS cloud market, the key sector of public cloud segments, will hit US $5.80 billion in the five industries, compared with US$1.01 billion in 2018, Pingan Technology said, citing figures from research firm IDC.
At present, Pingan has become the market leader in the cloud market of finance industry, the biggest segment of the five industries, thanks to more than 500 million users from bank, insurance and securities firms.
It means Pingan Technology, with complete cloud infrastructure (IaaS) and related services, will directly challenge Alibaba and Tencent as current market leaders in China’s public cloud market.
During a SMART conference held today in Shanghai, Pingan Technology announced strategic partnership with Inspur to establish a joint lab. Pingan Technology has also cooperated with Github to bring its services into China.
In the overseas markets, the company has operated business in Hong Kong and Singapore, which will explore new opportunities in Asia like Thailand, Chan added.