Application Development Software - Vietnam

The Application Development Software market in Vietnam is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is anticipated to reach US$155.30m by 2024.
Moreover, it is expected to maintain a steady annual growth rate (CAGR 2024-2029) of 11.32%, resulting in a market volume of US$265.60m by 2029.
In terms of global comparison, United States is set to dominate the revenue generation in this market, with an estimated revenue of US$91.95bn in 2024.
Vietnam's growing tech talent pool and competitive labor costs make it an attractive destination for companies seeking affordable and skilled application development software services.

Definition:

The Application Development Software market covers software development tools used by developers to design, create, test, and deploy applications. These applications can be anything from mobile apps and web-based software to complex enterprise applications. Examples of software solutions in the Application Development Software market include a wide range of tools and technologies, such as integrated development environments (IDEs), code editors, compilers, debuggers, testing and deployment tools, and programming languages.

Products in the Application Development Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Application Development Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G).

Key players in this market include Microsoft (Visual Studio), Eclipse, IntelliJ IDEA, NetBeans, and Xcode.

For more information on the displayed data, use the info button right next to the boxes.

Application development software, such as Simplifier, Salesforce Platform, and Microsoft Visual Studio
Application and infrastructure middleware, such as Oracle Fusion Middleware, IBM WebSphere Application Server, and Microsoft BizTalk Server
Data management software, such as AWS, SAP Master Data Governance, and SQL Server Integration Service
Application platforms, such as Zoho Creator, Quickbase, and Salesforce Platform
Platform as a service (PaaS), such as Microsoft Azura, Google Cloud, and Engine Yard

Collaboration software, such as Google, Slack, and Zoom
Business intelligence and analytic software, such as Tableau, Zoho Analytics, and IBM
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

The demand for Application Development Software in Vietnam has been increasing rapidly in recent years.

Customer preferences: Vietnamese customers are increasingly interested in software that can help them develop mobile applications. They prefer software that is easy to use and can be customized to meet their specific needs. Additionally, Vietnamese customers are also looking for software that is affordable and can be used on multiple platforms.

Trends in the market: One of the major trends in the Vietnamese Application Development Software market is the increasing demand for cloud-based solutions. This trend is driven by the need for flexibility and scalability, as well as the desire to reduce costs. Another trend is the growing popularity of low-code and no-code platforms, which allow users to develop applications without extensive programming knowledge.

Local special circumstances: Vietnam has a rapidly growing tech industry, with a large number of startups and small businesses entering the market. This has created a need for affordable and user-friendly software solutions that can help these companies grow and compete with larger players. Additionally, the Vietnamese government has been investing heavily in the development of the country's technology sector, which has helped to drive demand for Application Development Software.

Underlying macroeconomic factors: Vietnam has experienced strong economic growth in recent years, which has helped to fuel demand for Application Development Software. The country's young and tech-savvy population has also contributed to the growth of the market, as more people are interested in developing their own applications. Additionally, the Vietnamese government's focus on developing the technology sector has created a favorable environment for companies operating in this space.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.