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BEIJING, May 08, 2019 (GLOBE NEWSWIRE) -- Baidu, Inc. (NASDAQ: BIDU) ranked as one of the top five public cloud services providers in China in a recent survey conducted by global market intelligence firm IDC. The new position signals Baidu Cloud’s strong momentum in the fast-growing market segment driven by the company’s leading capabilities in AI technology.
Baidu Cloud ranked fifth in terms of market share in the combined Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) markets in the second half of 2018, according to the IDC China Public Cloud Services Tracker.
In its first time entering the top five ranking, Baidu significantly outpaced the growth of the overall market for its IaaS + PaaS business. In its PaaS business alone, Baidu Cloud achieved the fastest growth among all surveyed services providers, ranking fourth in terms of market share in Q4 of 2018. According to the IDC study, the China IaaS market grew by 88% percent in the second half of 2018 from the previous year, while the growth rate for the PaaS market reached 124%.
As a leading technology company, Baidu leverages AI across its platform and offers a differentiated cloud offering through its “ABC” strategy. Integrating its leading capabilities in AI, Big Data and Cloud Computing (“ABC”), Baidu empowers enterprises across industries such as telecom, manufacturing, financial services, energy, media, entertainment and transportation with an ecosystem of intelligent solutions. Baidu recently collaborated with Shanghai Pudong Development Bank and China Mobile to create an AI customer service representative, powered by Baidu’s AI technologies including facial recognition, big data, and deep learning, as part of their respective new humanized user interfaces (HUI) offering.
“AI is driving the fourth industrial revolution. Baidu Cloud aims to help businesses and partners create value through intelligent AI-powered technology and services, accelerate the adoption of AI applications, and lead the trend of enterprise AI,” said Watson Yin, Baidu’s Vice President and General Manager of Baidu Cloud.
Baidu Cloud has consistently broadened its innovative technology offering. In December, Baidu Cloud open sourced OpenEdge, an edge computing platform that extends Baidu Cloud’s data processing and machine learning to edge devices. At Baidu’s ABC Summit held in April, Baidu Cloud released library of AI toolkits in areas including computing, network, storage and database, as well as cloud solutions for video.
Baidu, Inc. is the leading Chinese language Internet search provider. Baidu aims to make the complicated world simpler for users and enterprises through technology. Baidu’s ADSs trade on the NASDAQ Global Select Market under the symbol “BIDU.” Currently, ten ADSs represent one Class A ordinary share.