Alibaba Cloud slows down?

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After the Internet industry gradually crossed the infrastructure construction of cloud computing, cloud computing giants had to turn the focus to the industrial field to pursue more realistic business growth.

Since the beginning of this year, Amazon, Microsoft, and Google have frequently conducted capital acquisitions and marching in industries such as medical, robots, and network security. Based on past experience, when the giant accelerates capital annexation, the industry will quickly transition to the next stage. As far as Yunyun computing is concerned, the value preferences of capital are evolving, from endogenous to outer integration, tending to the mechanical fusion of industrial elements.

However, domestic giants such as Alibaba Cloud and Tencent Cloud are not very willing to be happy with capital mergers and acquisitions. The regulatory factors are one of them. More importantly, the acquisition of customers or potential customers may bring many risks at the business level, such as ecological incompatibility. Bring additional performance loss and so on.

When the clouds are dense, it is a more reliable tactic for conservative and cautious business. As a domestic cloud computing leader, Alibaba Cloud should be deeply touched.

According to Canalys, 2022Q1 Alibaba Cloud Infrastructure Services has a year -on -year growth rate of 12%year -on -year expenditure, while the annual expenditure growth rate in 2021 is 30%, which is lower than the average growth rate of the industry during the same period.

Even compared to Amazon and Microsoft with larger volume, Alibaba Cloud's expansion is much slower. The Canalys report shows that in terms of 2022Q1 and 2022Q2 infrastructure services, the expenditure growth rates of AWS (Amazon Cloud) were 37%and 39%; the expenditure growth rate of Microsoft Azure (Microsoft Cloud) was 46%and 40%, respectively.

Revenue further proves that Alibaba Cloud has slowed down. The financial report shows that the 2022Q2 Alibaba Cloud business revenue was 17.69 billion yuan, a year -on -year growth rate of 10%. The revenue growth rates of AWS, Azure, Google Cloud at the same time were 33%, 20%, and 36%, respectively, which is obviously faster than Alibaba.

Deeper passive

Although the growth rate of the cloud business has slowed down, the growth rate of 10%in Q2 and 10%has been proud of all other businesses in Ali. According to financial reports, revenue is growth year-on-year, China's commercial is -1%, international business is 2%, local life is 5%, rookie is 5%, digital media and entertainment are -10%, and innovation industry is -30%.

However, it is undeniable that the slowness in the data on the data of the Alibaba Cloud is in a relatively passive state, whether it is expenditure or revenue.

First, the competitiveness is passive. After becoming the first in Asia, Alibaba Cloud has not significantly competitive advantages in the past two years, but is facing a more serious and tense competition situation.

Douyin has already hit the growth rate of Alibaba Cloud's business after throwing off Alibaba Cloud last year. This year, even with a volcanic engine high -profile intervention in the cloud computing track, actively grabbing the Shangyun dividend of the market segments such as clouds and content clouds, becoming the Shangyun dividend. Alibaba Cloud's opponents cannot be ignored.

Even in Ali, the industrial Internet tracks that have increasing expectations, the accelerated expansion of Huawei, Tencent, Baidu, and Jingdong has made the original blue ocean crowded. Not long ago, Guodian Investment and Ali and JD.com signed a digital cooperation agreement at the same time, which means the average division of market dividends, which is not good for the expansion of Alibaba Cloud's share.

In contrast, although Alibaba Cloud has a sound volume in the Asian market, because of the strong regionalization of Amazon and Microsoft, and geopolitical factors, it has not been able to show their feet in the European and American markets. The European and American markets still occupy the big share of the global market of cloud computing, which means that Alibaba Cloud's market space is limited.

Second, devoted to passive. Cloud computing, as one of Ali's long -term strategies, has a higher priority investment strategy, but the problem is that Ali's cloud business currently faces very difficult investment restrictions.

On the one hand, from the perspective of the macro environment, some industries have slowed down due to economic influence, and the speed of industrial expansion is often linked to the speed of cloud computing penetration. With the decline in customer expansion, the business incremental increase in Alibaba Cloud will also be increasing. Slow.

On the other hand, the logistics and local living businesses in Ali's ecology need to be expanded, and it is no less important than cloud computing in terms of strategic importance. Taking logistics as an example, Q2's financial report mentioned that rookie is accelerating the expansion of logistics infrastructure overseas, which is the two long -term strategies of Alibaba consumption and globalization. Therefore, Ali, who is in the period of cost reduction, must be balanced in the investment strategy.

Incremental

The passive Alibaba Cloud has increased negatively for three consecutive quarters of revenue. According to the financial report, the four quarters of Alibaba Cloud Business 2021Q3 to 2022Q2 was 20 billion yuan, 19.54 billion yuan, 18.97 billion yuan, and 17.69 billion yuan.

In order to make the cloud business return to the growth track, Ali Cloud will focus on non -Internet industries such as public, communications, and finance, but from the perspective of performance, the effect is not satisfactory. Ali mentioned in Q2's financial report that the non -Internet industry's revenue in the cloud business accounted for 53%, an increase of more than 5 percentage points at the same time.

From the absolute implementation, as the overall revenue continues to decline, the absolute income of non -Internet industry customers is actually declining. According to financial reports, 2022Q1, 20122Q2, Alibaba Cloud's customer revenue in Africa and Africa industry in Africa is 9.86 billion yuan and 9.37 billion yuan, respectively.

It can be seen that it is not easy to find a giant like Alibaba Cloud. The first reason is that Ali's native business gene is the Internet, which is relatively unfamiliar with research and sales of energy, manufacturing, medical care and other industries.

Although Alibaba Cloud has extremely rich technical and service capabilities, at the specific solution level, the complexity of the industrial model and the processing of data and business relationships will create significant service resistance to Alibaba Cloud. To gain a foothold in these industries, Alibaba Cloud cannot be the only leader, but to go well with the enterprise, so it often takes longer to finalize the final solution. In other words, when re -manufacturing or massive data attribute industries to develop new businesses, the threshold will actually be higher, and Alibaba Cloud generally needs more learning and service costs. Of course, this is also the challenge faced by all Internet -born cloud giants.

The second reason is that there are very strong "aboriginal" players in the segment. Under the "Cloud Nail Integration" strategy, Alibaba Cloud accelerated into the PaaS track, but there are many powerful players in the PaaS track, such as Inspur Cloud, UFIDA, Kingdee, etc.

Faced with these players, Alibaba Cloud does not dominate. Because they even lay out an industrial PaaS business earlier than Alibaba Cloud, and their development path is SaaS to PaaS, which is easier to transition than IaaS to PaaS, and it is more clear about customer needs and pain points.

Industrial enterprises have built self -built clouds and transformed into the role of service providers, which also hindered Alibaba Cloud's food division plan. Head companies such as Haier and Aerospace Science and Technology have established typical solutions in many industries after completing their self -cloud upgrades, and have a lot of right to speak.

In addition, some relatively heavy industries are not necessarily in the stage of development in high -speed growth. Taking the Industrial Internet as an example, the China Commercial Industry Research Institute reported that the size of the industrial Internet market in 2022 is expected to grow by 15.4%, lower than 18.2%in 2021.

When the business increment is becoming more and more luxurious, Alibaba Cloud needs to find more breakthroughs.

Urgently break the situation

To get faster again, Alibaba Cloud must have resolute determination. Judging from the action of Alibaba Cloud this year, there are three main ideas for breaking the situation. First, mobilize the PAAS -level business capabilities, such as the release of a large customer strategy; second, push digital solutions around low penetration scenes, such as ports, highways and other infrastructure; third, in -depth cooperation with colleges and institutions, Such as the Palace Museum and the University of Hong Kong.

From the perspective of demand prospects, these three directions can indeed provide Alibaba Cloud with new growth momentum. And the case that has been landed also proved that Alibaba Cloud's smart city and institutional college solutions have better practical application capabilities. Unfortunately, there seems to be too much exciting commercialized achievements on the nail.

Right now, Alibaba Cloud's break is even more urgent. First, the structural opportunities under the macroeconomic economy are not only reflected at the industry level, but also at the enterprise level. How to find companies with better future cash flow and transform them into long -term customers are a big challenge.

Second, due to the weak performance of the consumer Internet, some head players continue to strengthen the strategic position of the cloud business, tilt to the B -end business on resources and funds, which will exacerbate the competition fluctuations and test the pressure resistance of all players.

Third, in the second quarter, Ali's other businesses of domestic retail business were in a state of business loss. Alibaba Cloud and local life, as the child business with a narrowing loss of Q2's only business loss, should bear blood transfusion and nurturing other businesses as soon as possible. Heavy responsibility.

Secondary test

When the primary cloud revolution of the Internet industry is basically completed, cloud computing giants have crossed the first stage of the dividend period. In the next ten years, the incremental opportunity of cloud computing must exist in the industries with these three characteristics: first, the data -driven business advances; second, the gradual replacement of production factors; third, the demand will endless fission.

The reason why the new energy industry will be the focus of the current cloud computing giants is the core logic. Whether it is the production side, the product side and the consumption side, the huge data erupted, enterprises have continuous expansion needs for algorithms, computing power, and business model iterations.

Alibaba Cloud is welcoming the second big test after overcoming the challenge of self -research. On the one hand, in addition to the Internet industry, whether Ali's self -developed technology can exert greater value and continue Alibaba Cloud's technological advantages; on the other hand, after Shangyun, can Alibaba Cloud help the industry to achieve benign sustainable growth growth. Essence

At the Alibaba Cloud Partner Conference this year, Alibaba Cloud proposed the core attitude of "adhere to partners' priority" and released a series of targeted measures to support partners.

When the incremental increase is difficult to find, the growth of growth is also significant. Once the partner develops faster and gets better, Alibaba Cloud can benefit.

However, in the long run, if Alibaba Cloud wants to maintain or break through the existing industry status, it must shape a universal sustainable growth model, and to fully force the commercialization potential of the nails.

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