Yunqi Capital | PingCAP Overtakes TOP Spot, Becomes the Fastest-Growing Vendor in Global Database Management Systems Market

Recently, tech research firm Gartner released global database management system market growth data, with PingCAP, a Yunqi Capital-led Series A portfolio company, ranking first at 97.9% growth — not only the fastest-growing vendor but substantially outpacing its peers.

TiDB, the open-source distributed database created by PingCAP, has developed globally leading technical capabilities through years of refinement. On June 27, TiDB Cloud released a public beta of its vector search feature, bringing added convenience to AI application developers.

Yunqi Capital led PingCAP's Series A round in 2016 and has continued to invest in subsequent rounds. Over the years, we have maintained a sustained focus on and active participation in building the open-source ecosystem, making early-stage investments in open-source companies including Zilliz, Jina AI, RisingWave, and TabbyML. We look forward to seeing them continue to shine in this new wave of AI.

This edition of Yunqi Capital brings you the details on PingCAP's core product market growth. The following content comes from PingCAP.

>>> Recently, Gartner®'s Market Share Analysis: Database Management Systems, Worldwide, 2023 (June 2024) reported: "The DBMS market grew 13.4% in 2023, slightly lower than last year's 14.4%, but still outpacing the overall software market growth of 11.1%." Enterprise open-source distributed database vendor PingCAP ranked as the fastest-growing company in the global DBMS market at 97.9% growth, surpassing Snowflake, ClickHouse, and Cockroach Labs.

In Gartner®'s 2022–2023 vendor growth ranking, PingCAP claimed the top spot in 2023 with growth approaching 100%, while last year's leader Snowflake followed at 52.6% growth, and Cockroach Labs maintained strong momentum at 47.8%.

TiDB, the open-source distributed database created by PingCAP, is built for enterprise mission-critical workloads. It features native distributed storage-compute separation, distributed transactions, and real-time HTAP — meeting the demands of critical business for high performance, elastic scalability, and high availability. It is designed to enhance business agility, simplify overall data architecture, and help enterprises achieve technology autonomy, business innovation, and cost efficiency.

In the China market, TiDB has penetrated core systems in the financial sector, achieving leapfrog growth in deployment scale and results across state-owned banks, joint-stock banks, city commercial banks, insurance, and securities. At the same time, a growing number of manufacturing, retail, logistics, energy, food & beverage, healthcare, government, and internet customers have deployed TiDB across diverse business scenarios. In 2023, multiple TiDB clusters approaching petabyte scale went into production globally, with peak QPS reaching 1,000,000 in extreme scenarios. Hardened by these China-based extreme scenarios, TiDB has developed globally leading technical capabilities. In 2023, TiDB supported Chinese enterprises expanding overseas while gaining increasing recognition among global enterprises, adding nearly a hundred new paying customers from the US, Japan, India, Singapore, Indonesia, Thailand, and other countries and regions. Previously, in Gartner®'s 2024 Gartner® Peer Insights™ "Voice of the Customer" report for cloud databases, PingCAP was named a Customers' Choice — the only Chinese vendor to receive this designation. On June 27, TiDB Cloud released a public beta of its vector search feature, offering a comprehensive, SQL-compatible vector search solution that brings unprecedented convenience to AI application developers. Developers can easily innovate and scale without needing deep expertise in complex infrastructure. As a leading global database solutions provider, PingCAP has recently achieved leapfrog development across database technology influence, customer satisfaction, and revenue growth. Looking ahead, PingCAP will continue to invest in high-value scenarios for China and overseas users, as well as AI-driven application innovation, advancing the development of global data technology.