Tencent Cloud Dominates APAC Media Services Market
Tencent Cloud is in a strategically strong position to help enterprises achieve “Immersive Convergence”, a concept that combines tech and innovation - Poshu Yeung
Tencent Cloud, the cloud business of technology company Tencent, has been recognised as the number one service provider in the media services market, according to a report by Frost & Sullivan. The report gathered data insights across Malaysia and eight other markets in the Asia-Pacific (APAC) region.
It found that 33.4% of media and entertainment firms chose Tencent Cloud's services to accelerate their digital transformation journey in order to meet their future media services needs ranging from content creation, processing, and transmission to real-time communication, video-on-demand, live streaming, and more.
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The APAC media services market size is projected to reach $6,987m in 2026, with a CAGR of 27% over the next four years.
Additionally, the demand for audio and video solutions is expected to increase across a range of downstream industries, with the e-commerce sector showing the largest CAGR amongst other sectors including online gaming, media and entertainment, enterprise, and healthcare services.
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Media services have emerged quickly and are now becoming a cornerstone of the way we live and communicate today
Poshu Yeung, Senior Vice President, Tencent Cloud International
Cloud Tech
“Leveraging Tencent’s two decades of experience in serving and connecting over a billion users around the world on its consumer-facing platforms, Tencent Cloud is in a strategically strong position to help enterprises achieve “Immersive Convergence”, a concept that combines technology and the innovative approach of integrating the digital economy and the real world for a seamless connection,” he says.
The report mapped the competitive cloud media services landscape by evaluating cloud providers using three criteria: its application capability, service capability, and ecological level. Tencent Cloud was ranked first across the application and services capabilities and is in the first tier of the ecological level.
It provides over 400 technologies and connectivity solutions that support Immersive Convergence through its global infrastructure network, covering more than 26 geographic areas across five continents and 70 availability zones, with more than 2800 acceleration nodes.
The company is committed to leveraging its leading position in the media services space, as highlighted in its recent launch of Tencent Cloud Media Services in December 2022. Its latest international audio and video brand seeks to help businesses enhance immersive audience experiences and create customised virtual worlds.
Kazi Mahmood
