Market Research Report : Software Market in China 2012

Software Market – China
March 2012

Executive Summary
 China’s software market has kept up its momentum of rapid development and is expected to exhibit speedy
Market growth with a CAGR of around X% from USD ‐‐‐ bn in 2010 to USD ‐‐‐ bn in 2015
 Eastern region of China earned USD 198.02 bn, accounting for 86% of the total software revenue by Oct 2011

Drivers: Challenges:

‐ Modernization of Core Sectors in China ‐ Language Barrier

LE
‐ Large Internet & Mobile Phone User Base ‐ Loss Due To Software Piracy
‐ Increased Adoption of E‐commerce ‐ Lack of Intellectual Property Rights Protection

P
Drivers & ‐ Rise in Income ‐ High Costs of Entry
Challenges

M
‐ Largely Untapped Rural Market ‐ Government Emphasis on the Hardware

A
‐ Increased Use of Computers Sector

S
‐ Strong Education & Training ‐ Immaturity of Software Users
‐ Software Bug

 Declining Software Piracy
Trends  Rapid Development
 Increasing Mergers & Acquisitions
 Government Measures to Cut Software Piracy  Beijing’s 12th Five Year Plan (2011‐2015)
Government  Lower Duties and Tariffs for Software Market
Initiatives  Standards and Regulations  Major National Policies Regarding
Software & IT Service
 Established MNCs including Company A, Company B, Company C, Company D are dominating China’s Software
Competition Market, indicating stronger and more fierce competition for the domestic players
 Key domestic players in the market include Company A, Company B, Company C, Company D and others

SOFTWARE MARKET IN CHINA 2012.PPT 2

•Introduction
•Market Overview
 Global
 China
LE
P
•Export
M
S A
•Drivers & Challenges
•Government Initiatives
•Trends
•Opportunities
•Mergers & Acquisitions
•Competition
•Key Takeaways


Software Industry ‐ Definition
Software Industry
Organizations engaged in sales of computer software or services related to
computer systems

OECD Statistics

LE Private Sources of Statistics

MP
Data for ISIC Rev.3 division 72, which includes
activities related to the design, setup, Includes packaged software, custom software,

A
operation and maintenance of computer and computer‐related services such as system

S
systems and networks, custom software
development and publishing
design and maintenance

Major Types of Software

System Software Application Software

Software that handles different request for Software that handles a specific task and are
using the hardware, many housekeeping work, developed to fulfill specific requirement of the
storage of data etc user

Note: OECD refers to Organization for Economic Cooperation and Development and ISIC Rev.3 refers
Source: to International Standard Industrial Classification of All Economic Activities Revision 3


Historical Evolution of China’s Software Industry

• Development 1 • Development 1

LE
Phase I
MP
Phase II Phase III Phase IV

Era of Bundled
Software
Development
S A
Era of Microcomputer
Systems
Era of IT Systems Diffusion
Era of the Internet
and
Informatization


Source:


Global software market to grow with a CAGR of x% during
20‐ ‐20‐ reaching USD ‐‐bn by 20‐
Global Software Market – Overview

• Global software market is expected to reach USD ‐‐ bn by 20‐ with a compound annual growth rate

LE
(CAGR) of x% during 20‐ ‐20‐
 With the recovery of global economy, importance on IT investment is shifting from the traditional area of back‐

P
office automation and transaction processing towards the use of information to drive the market

M
USD bn S A Market Size and Growth

400 a6
x1% a5
a4
300 a3
a2
a1

200

100

0
20‐ 20‐ 20‐e 20‐e 20‐e 20‐e

Source:


Remarkable annual growth rate and demand from a wide
range of industries has boosted software market in China
China Software Market – Overview Market Size and Growth
• Chinese software revenue stood at USD a1 bn in 20‐,
expected to reach USD a6 bn by 20‐ with a CAGR of x1% USD bn

a6

LE
 China has shown strong output growth generating USD 205 bn 500 x1% a5
in the first nine months of 2011, up x3% y‐o‐y 400 a4
a3

P
• Revenue growth remained robust as enterprises looked 300 a2
a1
for solutions to improve performance and operational 200
efficiency

S AM
 China had y1 software enterprises as of Aug 20‐
 Software copyright registrations in China stood at y2 in 20‐
• The industry growth is partially attributed to key steps
100
0
20‐ 20‐e 20‐e 20‐e 20‐e 20‐e

Software Sales Growth
taken ensuring crackdown on software piracy and
copyright infringement
 Number of software patent applications filed increased from USD bn
x2% b2
y3 in 20‐ to over y4 in 20‐ 30
 The ministries as well as administration have promoted the b1
use of legitimate softwares in central government since 20‐ 20
 Over y5 govt. agencies spent over USD y5 mn buying y6+
genuine copies of softwares in 20‐ 10

0
Sep 20‐ Sep 20‐
Source: Note: 2010 Exchange Rate has been used for all conversions


System integrated services in China experienced the highest
growth presenting attractive opportunities
Sub‐sector Split of Software Revenues
Software Sub‐sectors

Software
System
Integrated
Embedded

LE
Data Processing
& Operating
IT Consulting
IC Design

P
Products System Software Services
Services Services

S AM
• China is the world’s fourth largest information technology (IT) market by spend after the US, Japan and Germany, as of 20‐
• In the first ten months of 20‐, software products and system integrated services generated more than x1% of the software revenues
followed by IT services, data processing & operating services and those related to IT services

Sub‐sector‐wise Revenue Composition of China’s Software Industry
USD bn
a1 a2
100%
c1% Software products
80% b1%
System integrated services
60% b2% c2% Embedded system software
40% b3%
c3% Data processing & operating services
20% b4% c4% IT consulting services
b5% c5%
0% b6% c6% IC design
Jan‐Oct 20‐ Jan‐Oct 20‐
Source:


Eastern China has contributed the highest share of total
software revenues in 20‐
Region‐wise Software Revenue
• China’s future prospect in software is vivid from its remarkable annual growth rate as well as from demand from

diverse range of industries

LE
• By region, revenue from the eastern areas of China was USD y1 bn, accounting for c3% of the total software revenue in
China during the first 10 months of 20‐

of d1%

MP
• By the first ten months ending Oct 20‐, software revenue from western China reached USD y2 bn with a y‐o‐y increase

S A
• Revenues from central China climbed at USD y3 bn with a y‐o‐y increase of d2% during the same period

Region‐wise Revenue Composition of China’s Software Industry
USD bn +33%
250 a2
c1%
200 a1 c2%
Central China
b2% b1%
150 Western China
100 c3% Eastern China
b3%
50
0
Source:


Four cities located in eastern region contribute over x1% of
the revenues generated by the Chinese software industry
Software Hubs of China

Province 1

LE Four major cities of the Software
Industry Output are all located in

MP Province 2
Province 3
Eastern China

Top Cities S A
Province 4

Share of Major Cities in Software Industry Output (20‐)
High concentration of talents
High concentration of talents
Others Country 1 Country 2 Country 3 Country 4 & investment in Eastern
& investment in Eastern
China lead it to be the “city
China lead it to be the “city
cluster” of software industry
20‐ a1% a2% a3% a4% a4% cluster” of software industry

Source:


China’s share of export to output has been around c12% on
an average over the last decade ending in 20‐
Software Export Growth Export Growth of the Software industry
• China's software market reaped USD a1 bn via exports USD bn
in the first ten months of 20‐, up x1% y‐o‐y x1%

25 a2

LE
 Oct 20‐, recorded the highest level of y‐o‐y export growth rate a1
of y1%, an increase of 13.3 percentage points over previous 20

P
month
15
• Increasing demand of IT service market worldwide acts
as a driving force for software export in China

S AM
• China's exports of software outsourcing service was USD b2 bn up
x2% y‐o‐y in the first ten months of 20‐
 Over y3% of the 400 enterprises participating in a survey*
10

5

0
expressed increasing interest on service outsourcing

Export of Software Outsourcing Services Share of Export to Output
USD bn % Share x3%
6 x2% c10 c11
b2 15
c4 c5 c8 c9
4 b1 10 c3 c6 c7 c12
c1 c2
2 5
0 0
Jan‐Oct 20‐ Jan‐Oct 20‐ 19‐ 20‐ 20‐ 20‐ 20‐ 20‐ 20‐ 20‐ 20‐ 20‐ 20‐
Note: *Survey of 400 companies in 2009 under “Global Outsourcing Market Under Crisis?”
Source:


Drivers & Challenges – Summary

Challenges
Drivers
Modernization of Core Sectors in
China

LE Language Barrier

Loss Due to Software Piracy
Large Internet & Mobile Phone User
Base

MP Lack of Intellectual Property Rights

A
Protection

S
Increased Adoption of E‐commerce
High Costs of Entry
Rise in Income Government Emphasis on the
Hardware Sector
Largely Untapped Rural Market
Software Bug
Increased Use of Computers

Rising Population of Computer
Scientists


China being the world’s 2nd largest economy after US acts
as a key growth driver for its software market
Modernization of Core Sectors in China Impact
• Finding 1
• Finding 2
 Sub‐finding 1
 Sub‐finding 2

LE
P
 Sub‐finding 3
 Sub‐finding 4

S AM
China’s GDP Growth (20‐ ‐20‐)
% Growth
15
a2 a3 a4
10 a1 a5 a6

5

0
20‐ 20‐ 20‐ 20‐e 20‐e 20‐e
Source:


China has the most internet and mobile phone users in the
world …
Large Internet and Mobile Phone User Base (1/2) Impact
•Finding 1

 Sub‐finding 1

LE
•Finding 2
 Sub‐finding 2
 Sub‐finding 3
•Finding 3
MP
Internet Population S A Top 5 Countries – Internet users(20‐)

Only y1% internet
China has the highest
mn users penetration in 20‐ No. in mn number of internet
600 demonstrates huge scope
x1% 600 users in the world
a5 for further expansion b1
a4
400 a3 400
a2 b2
200 a1 200 b3 b5 b6
0 0
20‐ 20‐ 20‐ 20‐ 20‐ Country
Country
Country
Country
Country
1 2 3 4 5

Source:


…which provides high impetus to the growth in China’s
software market
Large Internet and Mobile Phone User Base (2/2)

• Finding 1
 Sub‐finding 1
 Sub‐finding 2
 Sub‐finding 3

LE
• Finding 2
 Sub‐finding 4

MP
A
• Finding 3

S
 Sub‐finding 5
 Sub‐finding 6

Mobile Phone Population Smartphone Market Size Top 5 Countries – Mobile Phone users(20‐)
mn users mn units No. in mn China has the highest
x1% number of mobile phone
x2% b3
1,000 a4 100 1,000 c1 users in the world
a3 c2
a2 b2
a1
500 50 500 c3
b1 c4 c5

0 0 0
20‐ 20‐ 20‐ 20‐ 20‐ 20‐ 20‐e Country Country Country Country Country
Note: WCDMA refers to Wideband Code Division Multiple Access
1 2 3 4 5
Source:


Increased adoption of e‐commerce will boost further
growth in China’s software market
Increased Adoption of E‐commerce Impact
• Finding 1
 Sub‐finding 1
• Finding 2
 Sub‐finding 2

LE
MP
USD bn
3,000 S A Market Size and Growth

a7
a6
2,000 a4
a3
1,000 a2
a1

0
20‐ 20‐e 20‐e 20‐e 20‐e 20‐e

With increased adoption of e‐commerce making financial transactions online, there is a rising need for payment
gateways and other related software platforms driving the software industry in China

Source:


Rise in people’s income and the largely untapped rural
market are set to drive China’s software market
Rise in Income Impact
Urban Per Capita Disposable Income

• Finding 1
USD bn
4,000

LE x1%
a2

P
a1
• Finding 2 3,000
 Sub‐finding 1

M
2,000

A
1,000

S
Largely Untapped Rural Market
0
20‐ 20‐
Impact

• Finding 1
 Sub‐finding 1
• Finding 2
 Sub‐finding 2
 Sub‐finding 3

Source:


Wave of computerization and automation both in public
and private sectors driving the software market in China
Increasing Emphasis on Computerization Impact

Finding 1

Sub‐finding 1

Sub‐finding 2

Sub‐finding 3

Sub‐finding 4

Sub‐finding 5

LE
Sub‐finding 6

MP
Source:

SOFTWARE MARKET IN CHINA 2012.PPT
SA 18

Over x1 computer scientists graduate every year, depicting
strong growth potential for software market
Rising Population of Computer Scientists Impact

•Finding 1
 Sub‐finding 1
 Sub‐finding 2
 Sub‐finding 3
•Finding 2

LE
in China

MP
Rising number of technically qualified professionals are likely to drive the software market

Source: S A

Language barrier is one of the biggest challenges faced
by the software market in China
Language Barrier Impact
10 Most Popular Languages in Internet (20‐)

LE
Language 1
0 100 200 300 400 500 600
Users
a1 in mn

• Finding 1
 Sub‐finding 1

MP Language 2 a2

A
Language 3 a3
 Sub‐finding 2
 Sub‐finding 3
 Finding 2
S Language 4

Language 5

Language 6
a4

a5

a5

Language 7 a7

Language 8 a8
‐ Survey Language 9 a9
x1% Respondent x2% Respondent
Language 10 a10
Result 1 Result 2
All the rest a11

Note:

Source:


China suffered a loss of USD y1 bn due to software piracy in
20‐
Loss Due to Software Piracy Impact
•Finding 1
•Finding 2
 Sub‐finding 1

LE
 Sub‐finding 2
•Finding 2

MP
 Sub‐finding 3
 Sub‐finding 4

S A
Commercial Value of Pirated PC Software (2010) Commercial Value of Unlicensed Software in China

USD mn Loss due to software piracy USD mn
is second highest in China x1%
a1 10,000
10,000 a2 after the US b4 b5
b2 b3
b1
5,000 a3 5,000
a4 a5

0 0
US China Russia India Brazil 2006 2007 2008 2009 2010

Source:


Beijing municipality plans to improve local software and
information service …
Beijing’s 12th Five Year Plan (2011‐2015) for Software Market

Beijing Municipal Commission of Economy and Information Technology and the Beijing Municipal
Commission of Development and Reform aims for:

LE
MP
S A
Total revenue of USD y1 bn for the software and information service industry

Exports totaling USD y2 bn

Fostering and development of more than five globally competitive enterprises with
operating revenues of more than USD y3 bn

According to the development target for the software industry over the 12th Five Year Plan (2011‐2015), China will
support the establishment of over x1 firms each with annual revenues exceeding USD y4 bn

Source:


… industry during the 12th FYP period
Plan for Growth in Five Key Areas of Beijing's Software and Information Services Industry

Finding 1

LE Finding 2

MP
S A Finding 3

Finding 4 Finding 5

Source:


Government policies in the recent years will support the
development of software & IT services sector
Major National Policies Regarding Software & IT Service

Time

Issuer Policy Name

LE
Period
• Special research project on core electronic devices, high‐end computing chips and base

P
Nov 20‐ Issuer 1
software products

Apr 20‐

Sep 20‐
Issuer 2

Issuer 3
S M
• Electronic and information industry development plan

A
• Guidelines to encourage governments and enterprises to support business process
outsourcing industry

Apr 20‐ Issuer 4 • Action plan to improve information technology in rural areas

Oct 20‐ Issuer 5 • Decision to accelerate the development and growth of strategic emerging industries

Oct 20‐ Issuer 5 • Notice for cloud computing demonstration projects

Issuer 6 • Further Policies to Encourage the Development of Software and IC Industries
Feb 20‐

Note:
Source:


Trends – Summary

Declining Software Piracy

P LE
S AM Key
Trends

Rapid Development
Increasing Mergers &
(Growing Operating
Acquisitions
Revenues)


Government campaigns is one of the key measures that
reduced the software piracy rate in China during 20‐ ‐20‐
Declining Software Piracy

• Finding 1

Decline in software

LE
• Finding 2 piracy will develop
the market

P
Reasons for Declining Piracy Rate

M
• Finding 3

A
• Finding 4
• Finding 5
• Finding 6
S
Declining Software Piracy Rate Declining Losses due to Piracy

% Share % Share
x1% x2% y1%
80 12
10 y2%
60
8
40 6
4
20
2
0 0
20‐ 20‐ 20‐ 20‐
Source:


Revenue from software products accounted for the largest
share versus the other software sub‐sectors
Rapid Development (Growing Operating Revenues) (1/2)
Rapid Growth of Operating Revenues

China experiences

LE
Finding 1 rapid growth in
operating revenues

USD bn

MP
Data Processing & Operating Services Revenue IT Consulting & Management Services Revenue

USD bn

A
x1%
40 a2 30 x2%

S
b2
30 a1
20 b1
20
10 10

0 0
Oct 20‐ Oct 20‐ Oct 20‐ Oct 20‐
Software Product Revenue Embedded System Software Sectors Revenue
USD bn USD bn x4%
x3% d2
100 c2 40
d1
c1
50 20

0 0
Oct 20‐ Oct 20‐ Oct 20‐ Oct 20‐
Source:


Software and IT services sub‐sectors like data integration
and data quality tools are expected to see highest growth
Opportunity in Applications Development

Finding 1

LE
Product 1

Growing
Finding 2

P
Popularity

M
Finding 2 Product 2

Opportunity in Enterprise Software
S A
Between 20‐ and 20‐, data integration and data quality tools will be the fastest‐growing segment with a CAGR of x1%

• Finding 1
 Sub‐finding 1
 Sub‐finding 2
 Sub‐finding 3

Source:


Mergers & Acquisitions (M&A) (1/9)
Announced Date Closed Date Target Buyer/Investors Sellers Size (USD mn)

Jan‐4‐20‐ Jan‐11‐20‐ Target Company A Investor Company A Seller Company A USD X mn

LE
P
Jan‐4‐20‐ Jan‐4‐20‐ Target Company B Investor Company B Seller Company B USD X mn

Jan‐16‐20‐ N.A.

S AM
Target Company C Investor Company C Seller Company C USD X mn

Sep‐6‐20‐ Sep‐16‐20‐ Target Company D Investor Company D Seller Company D USD X mn

Source:
SAMPLE

Major Domestic Public Companies – Summary (1/2)

Net Profit
80
Size of the Bubble represents Market Capitalization in USD mn

75
m5

LE
70

65

60

MP
A
m1 m3

S
55

50 m4

45
m2
40

35 Total Income
150 200 250 300 350 400 450 500 550 600 650 700 750 800 850
Company 1 Company 2 Company 3 Company 4 Company 5

Note:

Source:


Major Domestic Public Companies – Summary (2/2)

Total Income and Profit for Major Domestic Companies

t1
Company 1
n1

LE
P
Company 2

M n2
t2

S A
Company 3
n3
t3

t4
Company 4
n4

t5
Company 5
n5

Total Income Net Income

Source: Note:


Domestic Company – Company Name
Company Information Locations – China
Company 5
Corporate Address x, y Avenue, City 5, City 5 Pin‐code,

Country

LE
Tel No. xxx‐yyy‐zzz
Fax No. xxx‐yyy‐zzz
Website
Year of Incorporation
‐
19

MP
Ticker Symbol
Stock Exchange

Products and Services
xx
yy
S A Headquarters

Category Products/Services
Business and operation OpenBilling, OpenCRM, OpenBOSS, OpenBI, Key People
support systems OpenPRM
Service applications Mail Center, Spam Patrol software, Net Disk, Name Designation
Internet Short Messaging Gateway, Device
Management Platform, software enhancement Person 1 Executive Co‐Chairman
and maintenance, system integration, other
value‐added IT consulting & planning services
Person 2 CEO, President &Director

Network management NetXpert, OpenXpert Person 3 CFO & Vice President
solutions
Person 4 Chief Technology Officer & Executive
Vice President
Source:

32

Financial Snapshot Key Ratios
y‐o‐y change
Total Income Profit Particulars 2010 2009 2008
Total Income (2010‐09)
USD mn USD mn
Profit / Loss Profitability Ratios
a3

400 60
Operating Margin ‐ ‐ ‐ ‐

LE
300 a2 40 Net Margin ‐ ‐ ‐ ‐
200 a1
20 Profit Before Tax Margin ‐ ‐ ‐ ‐

P
100
Return on Equity ‐ ‐ ‐ ‐
0 0
Return on Capital Employed ‐ ‐ ‐ ‐

M
20‐ 20‐ 20‐
Return on Working Capital ‐ ‐ ‐ ‐

A
Financial Summary Return on Assets ‐ ‐ ‐ ‐

registering an increase of x1 % over FY 20‐
S
• The company earned a net profit of USD a3 mn in FY 20‐, as
compared to net profit of USD a2mn in FY 20‐
• The company reported total Income of USD b1 mn in FY 20‐,

• The company earned an operating margin of 18.40 % in FY 2010 an
Cost Ratios
Operating costs (% of Sales)
Administration costs (% of Sales)
Liquidity Ratios
Current Ratio
‐
‐

‐
‐
‐

‐
‐
‐

‐
‐
‐

‐
increase of x2 percentage points over FY 20‐
Cash Ratio ‐ ‐ ‐ ‐
• The company reported debt to equity ratio of x3 in FY 20‐, a
Leverage Ratios
decrease of x4 % over FY 20‐
Debt to Equity Ratio ‐ ‐ ‐ ‐
Financial Summary Efficiency Ratios
Indicators Value (24/01/2012) Fixed Asset Turnover ‐ ‐ ‐ ‐
Market Capitalization (USD) y1 mn Asset Turnover ‐ ‐ ‐ ‐
Total Enterprise Value (USD) y2 mn Current Asset Turnover ‐ ‐ ‐ ‐
EPS (USD) y3 Working Capital Turnover ‐ ‐ ‐ ‐
PE Ratio (Absolute) – (6th March 2012) y4 Capital Employed Turnover ‐ ‐ ‐ ‐

Source: Company Websites; Press Articles; Databases Improved Decline

33

Key Business Segments Key Geographic Segments

Segment A People’s Republic of China The company operates
The company operates
through single through single

100% 100%
100% reportable segment 100% reportable segment

LE
namely, Telecom namely, People’s
Solutions Republic of China

P
50% 50%

0%
20‐

Key Recent Developments
S AM 0%
20‐

Description News
• AsiaInfo‐Linkage, Inc. provides telecommunications software solutions and IT products and services to
Overview
telecommunications carriers and other enterprises in the People’s Republic of China
• On Jan 20, 20‐, AsiaInfo‐Linkage, Inc. announced receipt of "Going Private" proposal from Power Joy
(Cayman) Limited, a wholly owned subsidiary of CITIC Capital China Partners II
Business • On Jan 4, 20‐, announced to sign an agreement to provide convergent billing and customer relationship
management software to Nepal Doorsanchar Company Limited
• On Dec, 20‐, signed NG‐BOSS 3.5 and NG‐BASS 3.5 upgrade contracts with Shanghai Mobile
• Mr. Yadong Jin, vice president and general manager of marketing, has been appointed as executive vice
New CTO
president and chief technology officer w.e.f Dec 14, 20‐
Source: Company Websites; Press Articles; Databases

34

Chinese software industry has undergone rapid development
in the past 10 years and the growth story continues
With rapid growth in IT spending among various industrial segments, including Government, banking, healthcare and
manufacturing, China’s software sector is likely to propel in the near future

Opportunities in the Initiatives Taken by

Market Size
Market Players

LE
USD bn

P
Software and IT services Players are taking
600 a6
sub‐sectors in China are x1%
a5 steps to upgrade the

M
expected to be the areas 400 a4
a3 quality of their

A
of highest growth a1 a2
presenting attractive products and after‐

S
200
opportunities in – services along with
IT consultancy and 0 development in
outsourcing sector; 20‐ 20‐e 20‐e 20‐e 20‐e 20‐e software outsourcing
Applications services
development;
Enterprise software Challenges
Software firms are
Huge increase in IT picking up the pace
spending across public of development via
and private sector, • Language Barrier M&A to improve
coupled with demand for • Software Piracy their products and
software development • Lack of Intellectual Property Rights Protection satisfy the
talent and high‐quality • High Costs of Entry multiplying demands
software products are • Government Emphasis on the Hardware Sector of customers
driving the market • Software Bug


Thank you for the attention
Software Market ‐ China report is a part of Netscribes’ Information Technology Industry Series.
For more detailed information or customized research requirements please contact:

Jitendra Punjabi
Phone: +91 33 4064 6215
E‐Mail: jitendra.punjabi@netscribes.com

About Netscribes
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Disclaimer: This report is published for general information only. Although high standards have been used the preparation, Research on India,
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Market Research Report : Software Market in China 2012

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