This article is edited from: Guosheng Securities "how popular is telecommuting?" Micro data tell you that ", Tianfeng Securities" telecommuting has ushered in a period of accelerated development, cloud video industry has taken advantage of the opportunity to rise ", Everbright Securities" stands at the starting point of prosperity-telecommuting industry report "
Abstract: under the influence of the epidemic, the demand for telecommuting increases rapidly in a short period of time. Tianfeng Securities believes that the impact of this epidemic is not only a simple short-term block catalysis, but also a very good opportunity to cultivate users' habits. In the five major product categories of telecommuting, video conferencing is the main product of telecommuting, and cloud video will rise strongly.
1. The epidemic continues and the demand for telecommuting continues to be hot.
Affected by the COVID-19 epidemic, a large number of companies have chosen to extend their holidays and telecommute, including BABA, Tencent, Huawei and other large technology giants to promote their telecommuting and cloud video products free of charge.
How popular is telecommuting? This can be seen from the following micro data:
APP downloads skyrocketedOn Feb. 5, Ali nailed surpassed Wechat for the first time to become the No. 1 AppStore ranking of Apple Inc, while WeCom rose to No. 3. As of Feb. 8, AppStore free download ranking, nail first, WeCom second, Tencent conference fourth, telecommuting hegemonic list.
Emergency expansion of manufacturersOn the first day of returning to work on February 3, Ali Nail and WeCom both had the problem of being unable to visit due to the excessive number of visitors. According to the data released by Aliyun, after the emergency expansion of 10,000 servers through Aliyun on February 3, it expanded another 10,000 CVMs on the 4th to cope with the peak traffic of group live streaming and voice and video conferencing.
According to Tencent Cloud, the Tencent meeting is expanding resources every day from January 29 to February 6, with an average daily expansion of nearly 15000 CVMs, with a total expansion of more than 100000 CVMs in 8 days, involving more than 1 million cores of computing resources. it set an unprecedented record in the history of cloud computing in China.
In addition, according to the Baidu, Inc. heat index, the telecommuting search index rose 491% in February from a year earlier, up 317% from January.
2. Sort out the telecommuting industry chain.
According to the data cited by the prospective Industrial Research Institute: 2017More than 80% of American enterprises have introduced telecommuting system.There are already 30 million people telecommuting from home, accounting for 16% of the working population in the United States.
by contrast,The penetration rate of telecommuting in China is still low and in a period of rapid development.In 2012, there were only 1.8 million telecommuting workers in China, but in 2014, this figure rose to 4.9 million, estimated in 2018. From 2012 to 2017, the market scale of telecommuting platforms in China showed great growth, reaching 6 billion yuan in 2017, an increase of 68.07 percent over the same period last year. From 2012 to 2017, the market grew at an average annual compound rate of 95.52%.
Telecommuting is based on Internet, Internet of things, cloud computing and other technologies, through third-party plug-ins, software, websites and other tools to achieve non-local office, such as home office, remote office, mobile office and so on.
Telecommuting can be divided into:
(1) the basic layer is upstream and provides basic resource services, including hardware facilities such as IDC, server, network and terminal.
(2) according to the functional categories, the application layer can be divided into five categories: video conferencing, task management, document management, comprehensive collaboration and cloud storage.
3. Cloud video takes advantage of the strong rise
In the five categories of telecommuting application layerVideo conference is the main product of telecommuting.According to Frost&Sullivan statistics, China's video conference market continues to show rapid growth.From 2014 to 2017, China's video conference market (including cloud video and traditional private network video conferencing) grew from 5.23 billion yuan to 11.04 billion yuan, with a compound annual growth rate of 28.28 percent. It is estimated that the domestic videoconference market will reach 44.57 billion yuan in 2022.
In order to achieve remote video conference, the technical implementation can be divided into hardware, software and cloud video conference systems, and the difficulty of deployment is reduced in turn.
(1) hardware video conference system:Enterprises need to purchase a full set of video conference products, including platform equipment (hardware MCU), conference terminal equipment (encoding and transmission of audio and video signals), video and audio acquisition equipment, etc., and use a private network to transmit voice and video images, and by the enterprise independent operation and management and daily maintenance.
(2) Software video conference system:Usually, the software MCU is deployed on the core server within the enterprise, and the PC is used for audio and video signal processing, and the private network is used for audio and video image transmission, so the difficulty of operation and maintenance and the cost of deployment are reduced.
(3) Cloud video conference system:Enterprises only need to connect smart devices such as PC, mobile phones and tablets to the cloud conferencing platform provided by third-party enterprises to conduct remote video conferencing, which significantly reduces the difficulty and cost of deployment.
Traditional videoconferencing provides scalability through the expansion of MCU, forming a hierarchical structure, and the construction investment cost is high.Cloud video can provide flexible, fast and low-cost dynamic configuration capabilities through the platform, and the system capacity can be smoothly expanded with obvious advantages.Such as the recent nail and Tencent meeting in view of the short-term demand surge, rapid expansion in the short term.Tianfeng Securities believes that the growth in demand for telecommuting will greatly promote the development of the cloud video industry.
4. Inspiration from the development of Zoom, the global leader in cloud video
Zoom was founded in 2011 by Chinese Yuan Zheng. Zoom, previously the star of Silicon Valley cloud video conferencing, rose 72.22% on its first day of trading and now has a market capitalization of $20 billion.
From a business point of view, Zoom's core product is a video communication cloud platform, which can be seamlessly accessed based on computers, tablets, mobile phones, telephones and multiple terminals in the company's video conference room to achieve large-scale access at the same time with high reliability and low delay video conference. The company's ZoomMeetings has been integrated into third-party applications including office365, email, browsers and other third-party applications, and slack and other enterprise collaborative office software is also the same to enhance the user experience.
From a financial point of view, both income and net profit of Zoom maintained a trend of rapid growth during the fiscal year 2017-2019. Unlike many SaaS companies that generally lose money, the company makes a profit when its revenue is small, with net profits of-$1.40,-382.2 and $7.584 million, respectively, from 2017 to 2019. Cross the break-even point in 2019.
Edit / jasonzeng