By BMI View , and Report Buyer; the same result was opened as follows:
“Vietnam is a rapidly developing IT market, with strong momentum across the hardware software and services segments. We expect this growth dynamic to be maintained over the medium term based on robust economic performance and a supportive policy framework that is both helping to grow the market and develop Vietnam's IT industry. For the retail hardware market broad-based economic growth that will deepen the retail hardware market, as well as easing price sensitivity in the higher-value placement market is a central component of our outlook. For software and services economic modernization and the development of higher productivity verticals in the economy present major opportunities to vendors. We forecast an IT spending CAGR of 10.2% over 2016-2020 to total sales of VND103.4 trillion in 2020.”
That report highlighted the Vietnam IT sector including Software, Hardware, and IT Services in terms of market share, key trends, market players and competitive scenario in the market. It also covered the market trends around cloud, managed IT services and the emerging Startups with the region.
Latest Updates and Industry Developments
- Computer Hardware Sales: VND 42.3trn in 2016 to VND 55.3 trilion in 2020, a compound annual growth rate (CAGR) of +6.9%. Outlook downgraded in Q216 due to expectation for greater cannibalization of tablet purchases by smart phones, but overall outlook still positive due to income growth trends.
- Software Sales: VND 10.8trn in 2016 to VND 17.8 trilion in 2020, a CAGR of +13.3%. Substantial opportunities exist in enterprise software market where there is low penetration.
- IT Services Sales: VND 17.1trn in 2016 to VND 30.3 trilion in 2020, a CAGR of +15.4%. Potential for core solution spending growth, and a booming cloud computing and outsourcing markets expected to underpin IT services outperformance 2016-2020.
e/f = BMI estimate/forecast. Source: BMI
By Thuy Le