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Tencent Cloud Ranks Top 2 in China’s Public Cloud Service Market with Rapid Growth of PaaS and SaaS

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Tencent Cloud Ranks Top 2 in China’s Public Cloud Service Market with Rapid Growth of PaaS and SaaS

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Tencent Cloud, the cloud business of global technology company Tencent, today announced that it continues to rank in second place in China with its comprehensive advantages in IaaS, PaaS and SaaS, according to the “IDC China Public Cloud Service Tracker, 2022H1” released by the global market intelligence provider International Data Corporation (IDC). In particular, the growth rate of Tencent Cloud in terms of PaaS market share reached 46.7% year on year, which is higher than the average growth rate of the market.

Amid the trend in the integration of the digital economy and the real world, enterprises do not only look for merely “migrating to the cloud”, but also a more in-depth cloud application including IaaS, PaaS and SaaS services. In particular, PaaS and SaaS have already become the top priority in the digitalization of the real economy.

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Over the past year, Tencent Cloud has focused on optimizing its revenue structure, reducing loss-making activities, and enhancing the efficiency of our business operation while maintaining a steady share growth in the overall IaaS/ PaaS/ SaaS market. The increased revenue from PaaS and SaaS has made the company’s revenue structure become more reasonable, positioning Tencent Cloud for sustainable long-term business growth.

In a media interview earlier this year, Dowson Tong, Senior Executive Vice President and CEO of the Cloud and Smart Industry Group of Tencent, said, “Tencent Cloud needs to focus on platform products and provide reliable platform tools for the industry ecology through deep technical capabilities. With stronger capability and a higher degree of configurability in our products, we can now better enable eco-partners to integrate and personalize their deployment.”

The continuous investment in the R&D of self-developed products has also enabled Tencent Cloud to build its leading technical strength in core areas such as self-developed servers. For example, the cost performance of the StarLake server incubated in the process of self-developed cloud migration is 30% higher than the industry.

These self-developed hardware products polished by various Tencent’s businesses have brought significant competitive edges to the PaaS and SaaS products, such as audio and video, database, big data, artificial intelligence, and video conferencing.

As for PaaS, Tencent Cloud has been the industry leader with years of experience. In particular, Tencent Cloud has been the top player in terms of audio and video solution market share in China for four consecutive years. Tencent Cloud is committed to continuously supporting different industries such as social, e-commerce, education, finance, and medical. Tencent Cloud’s enterprise-level distributed database TDSQL has over 500,000 clients in various verticals such as finance, public services, telecommunications, e-commerce and gaming.

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