Information is the new oil as they say. Large corporates and Governments are in constant search for more and more data so that they can influence the other parties. Technological advancements such as Artificial Intelligence and Machine learning is immensely dependent on mass data. It helps them to learn fast and perform accurately. If data is becoming so crucial then storage will be equally important. The new gold is what we can call the data storage systems. The internet giants are restructuring their businesses to venture into the cloud storage systems.
Not every individual user can possess a massive amount of data storage space. Thus, they depend on the cloud storage offered by their employers or private companies. Internet technology goliaths such as Microsoft, Amazon, Alibaba and so on have made their mark in the cloud storage services sector. Indian internet market has been in the boom since the last decade. China’s manufacturing prowess makes it the world’s factory. Similarly, the Indian IT sector’s efficiency and reliability make India the world’s back office. Cloud services are extremely important for the IT sector to provide efficient work perpetually.
The global players such as Amazon’s Web Services, Microsoft’s Azure and Alibaba’s Cloud systems are the most popular ones in the market at the moment. Tencent is one of the Chinese tech giants and is popular for its extensive chatting super application called Wechat and PUBG game. It has been expanding its business in the cloud computing sector by having 51 centres in 25 regions of the world. That said, another giant Tencent has entered the Indian market in March this year with its centres in the country’s financial capital Mumbai. It also has its bases in Hongkong, Thailand, the USA and Russia. Their aim is to cover India as well as all of South Asia too. The South Asian market is huge and there is huge potential there.
Corporates and large industries need high-speed internet and huge storage spaces. This cannot be possible via the conventional databases that each company has. Moreover, there is a specific set of talents required to manage and run these systems. Instead of such hassle, companies hire separate of such employees and spend huge amounts of money on storage and maintenance, it is always a better option to give the internet and storage services to a third party. Tencent is acting as the third party that will care for a company’s smart business through its cloud-based industry ecosystem. It looks after the computing, storage, networking, database management, network and data security, Big Data, Artificial Intelligence and Machine Learning.
India is emerging as one of the most favourable countries for startups to grow. In the past, several of the Indian technology-based startups have achieved the Unicorn status and that too very fast. This has given rise to the demand for cloud-based services as these companies deal with a lot of data. To securely store the data and use it as per the requirements need proper management and this is where companies such as Tencent comes in with their cloud computing solutions. However, the major hurdle in their way is the timing. Currently, in India, people are aware of the major players such as Amazon and Microsoft. Even Alibaba’s cloud computing is comparatively new for the businesses. In such a scenario, Tencent will find itself in a difficult situation as to get much of the market share.
Tencent has to offer something appealing to the businesses that they are targeting. Either they have to go out of the way to offer something extravagant or have to keep their prices very low. Either way, it is clear that they have a chance to make it big in the country given that they succeed in attracting the Indian businesses. Indian businesses have been quite tolerant of the changes in the technology field and they adapt to the new circumstances. Cloud computing solutions have taken off in the country really well. Alibaba has been investing huge amounts of money in their cloud services in India and Tencent is looking forward to overcoming their rivals soon in India and South Asia.