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Thursday, July 25, 2024

Tencent Ranked First in China Video Cloud Solution Market

Tencent Cloud – the cloud business of global technology company Tencent, recently announced that Tencent Cloud Media Services’ solutions has ranked first in market share for five consecutive years, according to the ‘IDC China Semiannual Video Cloud Tracker, 2022H2’. This achievement marks its ‘Five-Year Championship’ since IDC began releasing data in 2018. Among them, Tencent Real-Time Communication (TRTC) has grown rapidly and ranks first in growth rate among the top five providers in China market.

According to the IDC tracker, the video cloud market in China reached a size of US$4.98 billion in the second half of 2022, with a 7.5 percent year-on-year growth, and 22.9 percent solutions market growth (in CNY). It is expected that by 2027, the market size of China’s video cloud will reach US$30 billion.

The continuous penetration of ‘videoisation’ in business-to-business scenarios has gradually made audio and video technology become basic social services, driving the rapid growth of the industry as a whole. The key drivers for the development of the video cloud market in 2022 include changes in demand for traditional industry segments, the internationalisation of audio and video products and services, and the evolution and cooperation of audio and video technology standards.

As an early adopter in audio and video solutions, Tencent Cloud has been expanding its presence in overseas markets, leading the establishment of industry standards, and driving the accelerated development of the entire industry. Its Tencent Cloud Media Services optimises the real-time application of cloud rendering and audio and video technologies for enterprises in traditional industries – such as real estate, automotive, and cultural tourism – providing them with low latency and high-quality online virtual interactions and rendering in just seconds.

In response to the growing demand for cloud-based video production management in the broadcast and media industry, especially new media platforms, Tencent Cloud Media Services has also launched a one-stop cloud-based video creation solution that integrates all of Tencent Cloud’s audio and video-related AI, material services, and video product capabilities; and Media Processing Service (MPS) – which seamlessly provide enterprises with ultimate encoding capabilities and greatly reduced storage costs.

Tencent Cloud is also continuously expanding its RT-Cube capabilities, offering low-code solutions for different scenarios, such as CallKit for audio and video calls and RoomKit for multi-person audio and video calls. Its edge security acceleration platform EdgeOne has been successfully applied in top customer and typical scenarios in various industries worldwide.

In terms of industry standards, Tencent Cloud has pioneered the ultra-low latency live broadcasting technology, with the introduction of WebRTC technology, reducing the live broadcast delay by more than 90 percent and less than 500ms. According to Frost and Sullivan’s 2022 Asia-Pacific (APAC) Media Service Market Report, Tencent Cloud has been recognised as the number one services provider in the APAC media services market.


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