GlobeNewswire Inc | May 6, 2021 08:30AM EDT

May 06, 2021

NEW YORK, May 06, 2021 (GLOBE NEWSWIRE) -- 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. Chinas accelerating cloud migration is driven by long-term structural trends in the digitalization of the countrys 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 countrys 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 lions 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, visitwww.Infobird.com.

NOTE TO INVESTORS:The latest news and updates relating to IFBD are available in the companys newsroom at https://ibn.fm/IFBD

About NetworkNewsWire

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