As per the Canalys report, in the first quarter of 2024, mainland China’s cloud infrastructure service spending increased by 20% year-on-year to US$9.2 billion.
The three giants in China’s cloud service market – Alibaba Cloud, Huawei Cloud and Tencent Cloud – continued to maintain their dominant position, accounting for 72% of the entire market.
Alibaba Cloud continues to maintain its first position with a market share of 37%. Huawei Cloud remains the second largest cloud service provider with a market share of 19%. Huawei held the Asia-Pacific Partner Summit in April 2024, where it collaborated with partners such as iFlytek, PwC, and KBQuest.
Tencent Cloud holds 16% of the market share, ranking third. In order to keep up with Alibaba Cloud’s price cuts, Tencent Cloud slashed the price of its basic model by as much as 70% in May.
