WAVE2025 Global Pan-Internet Leaders Annual Ranking

Driven by breakthroughs in Agentic AI and rapid globalization, new growth opportunities are emerging across regions. While mature markets such as Europe, the United States, Japan, and South Korea continue to play an important role, emerging regions — including Southeast Asia, South Asia, Latin America, and Africa — are showing explosive potential as mobile connectivity, digital payments, and infrastructure rapidly advance.
Chinese pan-Internet enterprises, with their strong AI-driven content production capabilities and deep experience in localization, are seizing this global momentum. They are not only expanding their international presence but also contributing to the reshaping of the global digital landscape.
In gaming, for example, generative AI is revolutionizing production, from scene design to visual creation. While enabling NPCs to become intelligent, interactive characters that deliver truly immersive experiences. In film and television, AI-powered scriptwriting and post-production are boosting both quality and efficiency, even leading to fully AI-generated short dramas. In social platforms, AI is redefining interaction models, enhancing engagement, and transforming how people connect worldwide. Yet, rapid technological shifts and increasing market complexity bring new challenges. From compliance pressures to the acceleration of industry reshuffling, global competition is intensifying. Only companies that embrace change — leveraging both AI innovation and deep localization — will emerge as long-term leaders, building sustainable advantages in the evolving landscape. To explore these dynamics — and to recognize enterprises setting new standards for innovation and globalization — we are officially launching the “WAVE2025
Global Pan-Internet Leaders Annual Ranking.”