In this article, we are going to list the 12 biggest Chinese software companies. Click to skip ahead and jump to the 5 Biggest Chinese Software Companies.
The Chinese economy has seen astounding growth over the last few decades. With the world’s second-largest economy and the world’s largest mobile payment penetration, China has become a global technology leader, and many global companies are assessing the country’s present and future outlook. China is home to some of the largest software companies in the world, such as Huawei, Alibaba, Baidu, Tencent, and Xiaomi. The country’s technological innovation has been an advantage for it to be home to huge investments in AI, 5G, self-driving cars, robotics, electric vehicles, and even missions to Mars. Check out the top 10 robotics and artificial intelligence stocks to buy in our article here.
In the last decade, China’s software market has experienced impressive growth and has become a key industry in the country’s economy as a whole. The Software as a Service (SaaS) market in China is one of the fastest-growing markets in the world and the current boom has only really begun. In the first half of 2020, China’s software industry posted 6.7% year-on-year revenue growth, showing a positive resumption of work and production. According to the Ministry of Industry and Information Technology, in the first half of 2020, the country’s software industry generated sales revenue of 3.56 trillion yuan (approximately $ 508 billion), an increase of 6.7% year-on-year and 12.9% points higher than the first quarter of the year. In the first half of the year, software exports also rose steadily in the Chinese software industry to $22.3 billion, down 0.4% year-on-year. As the technology industry of the country develops, its products are becoming more popular abroad and have been able to compete with the incumbents of the industry.
The software industry in China is pretty competitive with several highly profitable tech giants. In a 2018 annual report by Kleiner Perkins Caufield & Byers, China has 9 of the top 20 tech giants in the world. Check out the 10 best tech stocks to invest in right now in our separate article. Both B2C and B2B companies benefit from China’s growing software market. Various enterprise resource planning (ERP) and customer relationship management (CRM) systems, data mining, and IT services for companies are in high demand. As you go through our list of the biggest Chinese software companies, you will encounter various tech-related applications that develop and create software in different sectors.
The pandemic has drastically changed media consumption patterns across China, driving record-high internet and app usage which is one of several notable trends that shape the country’s internet economy in 2020. The country saw an increase in engagement in mobile payments, whether it’s shopping for groceries, hailing taxis, or paying a bill at a restaurant. It is no doubt, modernization in China has been expedited by the pandemic. The coronavirus has accelerated digitalization across different sectors such as online learning and new training in education, telemedicine, and knowledge sharing are on the rise in healthcare, and recruitment is shifting to video interviews and virtual job fairs as the norm. Most importantly, much Chinese software has played an important role in stopping the coronavirus outbreak, resulting in increased further growth of these emerging technologies.
To give you the most accurate ranking of the biggest Chinese software companies, we collected and sorted each company’s financial values such as their revenue, market cap, total assets, and the number of employees. We sourced our data from Forbes and for some of the companies that don’t have their financial statement recorded in Forbes, we researched their latest annual report for reference. So, without further ado, let’s look at the biggest Chinese software companies in the world starting at number 12:
12. NARI Technology Development
Revenue: $4.3 billion
Market cap: $13.1 billion
Assets: $7.8 billion
Number of employees: 7,074
Headquarters: Nanjing, China
NARI Technology Co., Ltd. is a Chinese company primarily engaged in the development, production, and sale of hardware and software products related to the power industry. The main products of the company include power grid automation products, power generation, and new energy products, energy-saving and environmental protection products, industrial control products