88Z AI, 30 October — Volcano Engine prioritizes commercialization, with its MaaS business generating 4.8 billion yuan in revenue and a gross margin over 55% in the first half, leading to an increased annual target. IDC data shows it holds the top market share in China's enterprise MaaS sector.
At a glance
- Volcano Engine's MaaS revenue hit 4.8 billion yuan with over 55% gross margin in H1, prompting an raised annual target.
- IDC data places Volcano Engine first in China's enterprise MaaS market with a 45.1% share.
The update
Volcano Engine has explicitly identified commercial performance as its primary key performance indicator. In the first half of this year, its Model-as-a-Service (MaaS) business generated 4.8 billion yuan in revenue, maintaining a gross margin above 55%. Driven by this strong growth momentum, the company decided to raise its original annual revenue target of 15 billion yuan. Data released by market research firm IDC shows that the total revenue of China's enterprise MaaS market exceeded 10 billion yuan in the first half. In this competitive landscape, Volcano Engine ranked first with a 45.1% market share, ahead of Alibaba Cloud, which held a 25.2% share, demonstrating its leading position in the industry.
Sources & editorial note
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