Huawei continues to rock Chinese cloud service market in Q1 2024: Canalys

Huawei continues to have an influential mark in the Chinese cloud service market for Q1 2024. A new report sheds light on how the cloud sector is performing in China. It also highlights the changes that took place within the first three months of this year.

According to the report, Huawei remains the second-largest cloud service provider in the Chinese market for Q1 2024. The company obtained a market share of 19% in the fourth quarter of 2023 and has maintained this score this year as well.

But this time, the OEM has gathered more partners than the previous year. Huawei has teamed up with partners like iFlytek, PwC, and KBQuest to further expand its cloud services and benefits to more enterprises in the home ground.

New cooperations will also help in boosting the AI field. The Chinese tech giant is also keeping an eye on the global surface. Huawei says that its Cloud services completely adhere to the EU guidelines to avoid any interruption in business.

Alibaba Cloud is standing in the first position with a market share of 37%. The firm is planning to extend its business by setting up new data centers in South Korea, Malaysia, the Philippines, Thailand, as well as Mexico. It even dropped the price of its products up to 25%, alluring consumers in the native region.

Tencent Cloud appears in the third rank with 16% of the market share. To win the race, Tencent brought down the cost value of its basic models by 70% last month. It seems the discount helped the OEM to enter the top 3 rankers list.

Canalys report shows that the overall cloud business in China increased by 20% YoY resulting in $9.2 billion in revenue. This is the amount for the first quarter where all the above-listed vendors covered 72% of the market with their products.

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