It is always useful and informative to keep an eye on what is happening in Asian markets as more and more of the world moves online. Distributed computing technologies are a particularly hot area to watch as the global pandemic pushed more and more businesses to beef up their online performance. OceanBase, an Ant Group company have evolved to provide services as an enterprise-level distributed relational database provider.
OceanBase have grown quickly and recently declared at a recent industry event, the Distributed Database Developer Conference that they saw strong growth in terms of their customer base. This technology helps companies with an upgrade to core IT systems. As often happens they have also identified other relevant use cases too, and this has seen them attract business and new clients from other industries too.
This has enabled OceanBase to expand beyond the financial services sector to also find new partnerships and business within a range of other sectors, afterall who doesn’t want an effective database management system. New areas of business have included the travel sector, telecoms, which of course use increasing amounts of data, and also energy, which again can offer better business solutions with more micro data insights. This diversification in terms of business cases has also helped to grow revenue by 35% from non traditional sources.
An awareness of this business potential inspired OceanBase to then also research and target the the Small and Medium Enterprises (SMEs) sector. It makes sense too, as these types of companies are large in number, wide in scope, and could always grow and become the next Alipay or Antgroup. OceanBase have found this to be a successful approach and now nearly 70% of it’s customers are from the Small and Medium Enterprises (SMEs) sector. Their technology stack solutions have also led to productive partnerships with regional banks, insurers, security brokers, and wealth management companies, which again offers promising potential for future growth too.
OceanBase have named this a ‘product-driven growth’ business model, and it could be a driver to future growth and avenues of revenue too. Yang Bing, OceanBase CEO was quoted as saying “we look forward to working with partners, customers, developers, and other industry participants to accelerate the development of database technology with continuous technology and product innovations.”
A recent report from Gartner suggests OceanBase have further potential for growth too, as their technology is scalable, can be implemented as and where it is needed, with strong scope for adaptation, customisation and personalisation too.
More about OceanBase
Launched in 2010, OceanBase is an enterprise-level distributed relational database developed by Ant Group. OceanBase’s benefits over alternative solutions include strong data consistency, high availability, high performance, low cost, online scalability, and high compatibility with SQL standards and other mainstream relational databases. Its performance has been proven in many Alipay large-scale business scenarios, as well as at the annual 11.11 Global Shopping Festival. In May 2020, OceanBase set the world record for online transaction processing performance, with 707 million transactions per minute in a TPC-C benchmark test. OceanBase was officially registered as a separate company in June 2020.
To learn more, please visit: https://www.oceanbase.com/en
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