Infobird Co. Ltd. (NASDAQ: IFBD) Launching Next Generation of SaaS in China
May 06 2021 - 8:30AM
via InvestorWire —
Infobird Co. Ltd. (NASDAQ:
IFBD) today announces its placement in an editorial
published by NetworkNewsWire ("NNW"), one of 50+ trusted brands
within the InvestorBrandNetwork (“IBN”), a multifaceted financial
news and publishing company for private and public entities.
To view the full publication, “China Is Next Frontier in SaaS
Revolution,” please visit: https://nnw.fm/XefjE
Cloud infrastructure spending in China increased from about USD
$107 billion in 2019 to $142 billion in 2020, surging more than 32%
in the last quarter of the year. China’s accelerating cloud
migration is driven by long-term structural trends in the
digitalization of the country’s economy plus increased business
acceptance of cloud and SaaS solutions, all indicative of massive
sector growth. These drivers, among others, are propelling the
market higher as ever more companies shift to cloud-based
infrastructure to reduce costs and increase revenue as well as
enhance customer service and satisfaction. The process is also
spawning a fusion of SaaS and customer-engagement actions from
passive traditional efforts to proactive artificial intelligence
(AI)-powered SaaS solutions. This is exactly the type of sea-change
coveted by smart money.
However, the country’s SaaS market is extremely fragmented; the
top 10 vendors account for only about 35% of total market share.
Led by industry visionaries, Infobird Co. Ltd. (NASDAQ:
IFBD) is launching the next generation of SaaS in China to
capture a lion’s share of the massive market. With its past years
of operation experiences, the company has served many leading
enterprises in various industries.
About Infobird Software Co. Ltd.
Infobird, headquartered in Beijing, China, is a
software-as-a-service provider of innovative AI-powered or enabled
customer engagement solutions.
For more information about the company,
visit www.Infobird.com.
NOTE TO INVESTORS: The latest news and
updates relating to IFBD are available in the company’s newsroom
at https://ibn.fm/IFBD
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