Core Insights - The article emphasizes the rapid growth of the Model as a Service (MaaS) market, with major players like OpenAI, Google Cloud, and Volcano Engine capturing significant market shares by 2025 [1][3] - Volcano Engine has achieved a remarkable daily token call volume of 63 trillion, positioning itself as a leading Chinese player in the AI cloud market [3][6] - The introduction of the Doubao model has led to exponential growth in token usage, highlighting the increasing importance of MaaS as a foundational infrastructure in AI [4][11] Market Dynamics - By October 2025, OpenAI, Google Cloud, and Volcano Engine are projected to hold 65% of the global MaaS market, with respective shares of 31%, 19%, and 15% [1] - Volcano Engine's daily token call volume of 30 trillion places it third globally, following OpenAI and Google Cloud [3] - The MaaS market is still perceived as "thin" and "narrow," indicating potential for further growth and competition [3] Company Performance - Volcano Engine has reported a 100% year-on-year revenue growth, exceeding 20 billion, and has revised its revenue target for 2030 upwards by several percentage points [6] - The company has prioritized MaaS as its strategic focus, leading to significant investments in resources and technology [6][16] - The introduction of the Doubao model API service has drastically reduced pricing, marking a shift from "per count" to "per milligram" pricing, with a reduction of up to 99.3% [6] Technological Advancements - The launch of the DeepSeek-R1 model has further enhanced Volcano Engine's capabilities, allowing it to capitalize on the growing demand for model inference services [7][10] - Continuous iterations of the Doubao model have led to increased token call volumes, with new models being released every three months [10][11] - The company is focusing on optimizing AI application accessibility and cost-effectiveness through advanced tools like Prompt Pilot and Model Router [27][28] Future Outlook - Volcano Engine aims to maintain its leadership in the MaaS market while expanding into deeper industry applications, particularly in sectors like smart manufacturing and consumer electronics [27] - The company is developing a new architecture centered around agents, which will enhance the integration of models into existing workflows [28][30] - The potential market for agents is vast, with estimates suggesting it could significantly expand beyond traditional IT budgets into areas like global customer service and programming [30]