Other Enterprise Software - Vietnam

In 2024, the projected revenue for the Other Enterprise Software market in Vietnam is expected to reach US$24.07m.
This market segment is estimated to experience an annual growth rate (CAGR 2024-2029) of 3.56%, resulting in a market volume of US$28.68m by 2029.
Furthermore, the average Spend per Employee in the Other Enterprise Software market is projected to be US$0.42 in 2024.
When it comes to global comparison, the majority of the revenue in this market segment is anticipated to be generated United States, with a projected revenue of US$32.46bn in 2024.
Vietnam is experiencing a surge in demand for other enterprise software, driven by the country's growing tech industry.

Definition:

The Other Enterprise Software market covers aggregated revenues for the types of enterprise software that are not specifically mentioned in the other subsegments Enterprise software segment. These include, for example, Project Management Software, Product Life Cycle Management Software, and Production and Operation Software.

Products in the Other Enterprise 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 Other Enterprise 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 enterprises (B2B) and governments (B2G).

Key players in this market include SAP, Oracle, Atlassian, and ServiceNow.

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Content applications, such as Adobe Experience Manager, Semrush, and HubSpot
Performance management applications, such as PerformYard, Workday, and Monday
Workforce management software, such as ADP Workforce Now, BambooHR, and Zoho People

Enterprise resource planning software, such as Odoo, SAP Business One, NetSuite, and Microsoft Dynamics 365
Customer relationship management software, such as Salesforce Sales Cloud, Monday sales CRM, and HubSpot CRM
Business intelligence software, such as Toast, Heap, and insightsoftware
Supply chain management software, such as Anvyl, Tada, and Magaya Supply Chain
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

The Other Enterprise Software market in Vietnam has been experiencing significant growth in recent years.

Customer preferences: Vietnamese businesses are increasingly adopting digital technologies to improve their operations and gain a competitive advantage. This has led to a growing demand for Other Enterprise Software, which includes solutions for customer relationship management, supply chain management, and human resources management.

Trends in the market: One of the key trends in the Other Enterprise Software market in Vietnam is the adoption of cloud-based solutions. This allows businesses to access software applications and data remotely, without the need for expensive hardware and infrastructure. Another trend is the use of artificial intelligence and machine learning to automate routine tasks and improve decision-making.

Local special circumstances: Vietnam has a large and rapidly growing tech industry, with a focus on software development and outsourcing. This has created a favorable environment for the growth of the Other Enterprise Software market, as local businesses are able to access a wide range of software solutions and expertise.

Underlying macroeconomic factors: Vietnam has experienced strong economic growth in recent years, driven by a combination of factors including a young and increasingly skilled workforce, a growing middle class, and a favorable business environment. This has created a strong demand for digital technologies and software solutions, including Other Enterprise Software. Additionally, the government has been actively promoting the development of the tech industry, which has further supported the growth of the market.

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.

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