BABA(US:BABA) Bei Ke Cai Jing·2025-09-30 14:16Core Insights - The AI cloud market in China is experiencing significant growth, with a notable increase in advertising from major cloud service providers at airports in cities like Beijing, Shanghai, Shenzhen, and Hangzhou [1][2] Market Growth - According to IDC, the volume of large model calls in China's public cloud is expected to grow nearly 400% by the first half of 2025 [2][19] - Omdia predicts a 148% growth in the AI cloud market in China by 2025 [2] Market Leaders - Alibaba Cloud holds the largest market share in the AI cloud sector at 35.8%, followed by Volcano Engine at 14.8%, Huawei Cloud at 13.1%, and Tencent Cloud at 7% [8] - Volcano Engine has rapidly risen to become a challenger in the market, leveraging its MaaS growth [2][12] Advertising Claims - Alibaba Cloud claims to lead the AI cloud market, stating its share exceeds the combined total of the second to fourth players [4] - Volcano Engine asserts it holds a 46.4% share of the public cloud large model market [4][11] Statistical Discrepancies - The differing claims of market leadership stem from varying statistical methodologies used in reports by Omdia and IDC [5][12] - Omdia's report includes a comprehensive revenue model (IaaS, PaaS, and MaaS), while IDC focuses solely on external customer token usage in the MaaS layer [11][12] Competitive Dynamics - The competitive landscape is influenced by the aggressive pricing strategies initiated by DeepSeek, which has led to a significant price reduction in large model services [17][18] - DeepSeek's pricing adjustments have prompted other major players like ByteDance, Alibaba, Baidu, and Tencent to follow suit, resulting in a price war in the large model market [17][18] Future Projections - IDC forecasts that the market for generative AI software in China will continue to grow rapidly, potentially reaching 48.24 billion RMB by 2028 [21] - Omdia anticipates a compound annual growth rate (CAGR) of 26.8% for the AI cloud market from 2025 to 2030, with the MaaS layer expected to grow at a CAGR exceeding 72% [22]