Administrative Software - Vietnam

The Administrative Software market in Vietnam is expected to witness significant growth in the coming years.
According to projections, the revenue for this market is estimated to reach US$12.29m by 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 7.46% between 2024 and 2029.
This growth trajectory will result in a market volume of US$17.62m by 2029.
When comparing the revenue generated globally, it is noteworthy that United States will dominate the market.
In 2024, United States is expected to generate an impressive revenue of US$7.44bn in the Administrative Software market.
This demonstrates the significant market share and influence of the United States in this sector.
Vietnam's growing tech industry is driving demand for administrative software, as businesses seek to streamline operations and improve efficiency.

Definition:

The Administrative Software market covers software applications that are used to manage various administrative tasks and processes within an organization such as administration of IT infrastructure, standalone (non-ERP based) human resources management, and payroll management.

Products in the Administrative 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 Administrative Software market comprises revenue and revenue growth as the key performance indicators. Only 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 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 Workday, Intuit, and ServiceNow.

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Core HR-software, such as Personio, BambooHR, and RUN Powered by ADP
Payroll software, such as Paycor, Gusto, and Paychex
Learning & development software, such as Docebo and Adobe Learning Manager
Compliance software, such as SiteDocs, Skillcast, and Netwrix

Talent acquisition, such as Lever, Greenhouse, and Zoho Recruit
Workforce management, such as ADP Workforce Now, BambooHR, and Zoho People

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

Customer preferences: Vietnamese customers have shown a growing preference for administrative software solutions that offer automation and digitization of administrative tasks. This is due to the increasing demand for efficient and streamlined business operations. Additionally, there is a growing awareness of the benefits of cloud-based solutions, which allow for greater flexibility and scalability.

Trends in the market: One of the key trends in the Vietnamese Administrative Software market is the increasing adoption of cloud-based solutions. This is due to the benefits of scalability, flexibility, and cost-effectiveness that cloud-based solutions offer. Another trend is the rise of mobile-first solutions, as more and more businesses in Vietnam are using mobile devices to access administrative software solutions.

Local special circumstances: Vietnam has a rapidly growing economy, which has led to an increase in the number of small and medium-sized enterprises (SMEs). These businesses are increasingly looking for administrative software solutions that can help them to manage their operations more efficiently. Additionally, the government of Vietnam has been actively promoting the digitization of administrative processes, which has created a favorable environment for the growth of the Administrative Software market.

Underlying macroeconomic factors: Vietnam has a young and tech-savvy population, which has been a driving force behind the growth of the Administrative Software market. Additionally, the country has a large and rapidly growing economy, which has led to an increase in the number of businesses and a growing demand for administrative software solutions. Finally, the government of Vietnam has been actively promoting the growth of the technology sector, which has created a favorable environment for the development of the Administrative Software 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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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.