Collaboration Software - Vietnam | Statista Market Forecast

The Collaboration Software market in Vietnam is estimated to witness a significant growth in revenue, projected to reach US$13.05m by 2024.
This market segment is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 6.38%, leading to a market volume of US$17.78m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$7.84bn in 2024.
Vietnam is experiencing a surge in demand for collaboration software, as businesses embrace remote work and seek efficient communication tools.

Definition:

The Collaboration Software market covers software applications that are used to facilitate communication and collaboration among teams and individuals within an organization through various channels, such as email, instant messaging, video conferencing, and file sharing.

Products in the Collaboration 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 Collaboration Software market comprises revenue, revenue growth, and key player market shares 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 Zoom, Cisco, Slack, and LogMeIn.

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Team collaboration applications, such as Slack, Jira, and Trello
Conferencing applications, such as Zoom, Skype, and Microsoft Teams
Email applications, such as Microsoft Outlook, Amazon WorkMail, and Yahoo Business Mail
Synchronization software, such as NinjaOne, Cato Networks Suite, and ManageEngine ADManager Plus
Sharing software, such as Google Drive, Dropbox, and OneDrive

Social networks, such as Yammer, Twitter, and Buffer
Free-of-charge software, such as Airtable, Anaplan, and BlackLine
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

Collaboration Software market in Vietnam has seen a significant surge in recent years. With the rapid growth of the technology sector in Vietnam, the demand for collaboration software has increased, leading to the development of the market.

Customer preferences: Vietnamese companies are increasingly adopting collaboration software to improve their productivity and efficiency. The software allows employees to work remotely, which has become a necessity in the current pandemic situation. Additionally, the software enables teams to collaborate in real-time, share files, and communicate effectively, leading to improved workflow and better decision-making.

Trends in the market: The collaboration software market in Vietnam is witnessing a shift towards cloud-based solutions. The cloud-based software offers several advantages, including easy accessibility, cost-effectiveness, and scalability. Additionally, the demand for mobile collaboration software is increasing, as more and more employees are working remotely. The software allows employees to work on-the-go, improving their productivity and efficiency.

Local special circumstances: Vietnam has a young and tech-savvy population, which is driving the demand for collaboration software. Additionally, the government's efforts to promote the development of the technology sector have led to an increase in the number of startups and SMEs in the country. These companies are adopting collaboration software to improve their operations and compete with larger players in the market.

Underlying macroeconomic factors: Vietnam's economy has been growing at a steady pace, with a focus on developing the technology sector. The government has launched several initiatives to promote the development of the sector, including tax incentives and funding for startups. Additionally, Vietnam's strategic location and low-cost workforce have made it an attractive destination for foreign investors, leading to an increase in the number of technology companies in the country.In conclusion, the collaboration software market in Vietnam is witnessing a significant surge, driven by the growing demand for remote work solutions and the government's efforts to promote the development of the technology sector. The shift towards cloud-based solutions and mobile collaboration software is expected to continue, as companies look for cost-effective and scalable solutions to improve their productivity and efficiency.

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.