The second episode of KrASIA’s Morning Briefing was live on March 2, 9am. This new fortnightly series gives a breakdown on China’s industries, exclusive to our subscribers. The next episode will be on March 16, spotlighting Logistics — click here to save your spot!
Delving into the vast Enterprise Service industry, the team provided a peek into how the market is structured in China, drawing on parallels and differences between the US and the domestic market. The shift in the market demand and supply was also touched on. The presentation was then rounded out with two different case studies — Cloopen Group Holding Limited and Laiye.
The Enterprise Services market in China is huge — spanning functions such as human resource management, finance management, data analysis and more. Not to mention the plethora of service providers that focus on specific industries, encompassing anything from hospitality, to education, to healthcare. The iterations are endless. SaaS in particular, takes up a large chunk of China’s landscape and is expected to continue its exponential growth in the next couple of years.
Enterprise Services in China are largely procured for situations that involve managing huge amounts of multi-faceted data. This is increasingly so as we move deeper into the Data Technology era and as more businesses become more aware of the necessity for data collection and analysis. Thus generating domestic high market demand for ready-made software that deals with real-time data analysis and predictions/mapping, ultimately creating higher demand for SaaS style databases and solutions.
Over the past decade of technological development, China has also witnessed more and more hybrid Enterprise Services — the combination of IaaS and PaaS or SaaS and PaaS has become a budding trend. Moreover, the COVID-19 pandemic catalysed digitalisation for many traditional companies and SMEs, generating fresh demand for enterprise solutions. In the first half of 2020 alone, the market size of China’s public cloud services reached USD 8.4 billion, an increase of 51% year on year.
The team also discussed Cloopen Group Holding Limited as the first case study, outlining the company’s footprints and the implications of its IPO. You can check out a snippet of this section below:
The second case study on Laiye showcased the showcasing the breadth and fluidity of Enterprise Services in China. Laiye is an example of how Robotic Process Automation has developed into an important branch of enterprise services industry and has been combined with features of SaaS technologies. By providing AI-powered SaaS solutions, RPA can be deployed at a lower cost on remote locations, significantly improving the scalability of RPA technology providers like Laiye.
Click here to learn more about Morning Briefing and register for the upcoming episode on Logistics, March 16 at 9am (GMT +8).