With the continuous development of the real economy and digital China, digital transformation will become an inevitable choice for the development of the real economy, and also the general trend of economic and social development.
At present, the domestic cloud computing industry is going through the early stage of development, entering a new cycle, and bringing significant changes in market structure, customer structure and other aspects. On the demand side, traditional enterprise customers are replacing Internet customers as the main driving force for the growth of demand in the domestic cloud computing market, and cloud platform manufacturers are required to have a completely different capability model than in the past. On the supply side, the operator cloud, relying on the advantages of infrastructure cost and breadth, has gradually gained share in the IaaS layer, and achieved rapid accumulation of users in the government and enterprise fields, driving the growth of demand for domestic ARM servers, first-tier city data centers, etc. Internet manufacturers still have advantages in PaaS, SaaS, ecological construction and other fields relying on software capabilities. It is expected that the domestic cloud computing market competition will continue to become fierce in the medium term and will significantly extend the overall profit cycle of the industry.
According to Gartner, the global public cloud market will reach US $330.7 billion in 2021,+32.4% year-on-year. According to Forrester's prediction, the global public cloud market is expected to reach US $1 trillion in 2026, and the CAGR will be about 25% in 2021-2026. According to IDC, the size of China's public cloud market will reach 27.52 billion US dollars in 2021, with IaaS, PaaS and SaaS accounting for 62%, 15% and 23% respectively. According to IDC forecast, the CAGR of China's public cloud market will exceed 30% in 2022-2026.
CITIC Securities pointed out that in recent years, the three major operators have focused on the development of cloud computing and promoted institutional reform. With the comprehensive advantages of cloud network integration, security and credibility, the cloud computing revenue of operators has increased rapidly, and the industry competitiveness and status have been significantly improved. At present, operators have prominent advantages in IaaS by virtue of the improvement of underlying infrastructure, and continue to improve the comprehensive competitiveness of PaaS and SaaS by strengthening self-research, building ecology, and channel sinking. In the future, it is expected that the growth rate of cloud computing of operators will continue to lead the way. It is expected that with the increase of revenue and the improvement of profitability, the independent valuation of cloud computing will bring the market value flexibility of 100 billion yuan to operators.
Comments: The development trend of the platform economy is improving in the near future, or the cloud investment is gradually increased. At present, the valuation of cloud computing companies is at a low level. Telecom operators and their cloud computing, data element industry chain companies, industrial Internet and the phased array radar microwave component industry chain related to military communications may be paid attention to by funds.
Here, four companies are introduced for reference by integrating the latest research and report information of several securities companies.
1. Cape cloud
After landing in the capital market, Cape Cloud quickly consolidated the advantages of the data intelligence platform. On this basis, it quickly entered the field of digital intelligence energy by means of acquisition and capital increase, and formed a "digital intelligence+" platform development strategy and was firmly implemented. At present, the company has formed a multi-level equity incentive mechanism, which can mobilize the enthusiasm of the core teams at all levels and help the implementation of the company's strategic plan. The "second growth curve" is being established-- Huaxi Securities
2. Zhiyuan Internet
In terms of information innovation, the company has actively arranged the information innovation field, launched exclusive products for government information innovation and industry information innovation, covering a wide range of industries, and adapted new products with many basic software and hardware manufacturers. In terms of digitalization, the company has an open technology platform and a low-code platform to support the construction of business. At the same time, it adheres to the product development strategy of platform-based and cloud transformation, and maintains the company's competitive advantage in technology. In terms of ecology, the company has integrated industrial chain resources through the "Honeycomb Plan", jointly built a large collaborative alliance ecosystem, and formed ecological cooperation relationships with nearly 100 strategic partners across the country. We believe that with the company's continuous investment in the information and innovation business, the software adaptation capability will be further highlighted, which will help to enhance the product competitiveness and increase the added value of the product, thus further expanding the breadth and depth of enterprise-level collaborative application solutions and achieving technological breakthroughs-- Haitong Securities
3. Scientific and technological innovation
The company has long served the digital transformation of large customers such as operators and energy groups. Relying on a broad base of potential customers, the expansion of energy storage business is worth looking forward to. In terms of cloud platform, the company innovates the application scenario of digital intelligence logistics in the "platform+service" mode, provides digital intelligence ETC and digital intelligence supply chain services for cargo owners, logistics enterprises and truck drivers, and cultivates new growth points for the company-- East Asia Qianhai Securities
4. Taiji Shares
Taiji has been deeply involved in China's information industry for 30 years, and has become a leading enterprise in the informatization of domestic e-government, smart cities and key industries. It has a complete independent product system, a mature "cloud+digital" service model, a deep industry know-how, leading brands and qualifications, strong shareholder resource support and other core advantages. The company has comprehensively laid out the basic software of Xinchuang and built a complete independent product system covering the operating system, database, middleware and office software; In 2021, nearly 3 billion yuan of new information and innovation projects will be signed, continuing to maintain market leadership-- East Asia Qianhai Securities
