System Infrastructure Software - Vietnam

Vietnam

In Vietnam, the System Infrastructure Software market is estimated to achieve a revenue of US$111.20m by the year 2024.
Furthermore, it is anticipated that this market will experience a compound annual growth rate (CAGR 2024-2029) of 5.22%, ultimately leading to a market volume of US$143.40m by 2029.
When compared globally, it is worth noting that United States is projected to generate the highest revenue in this market, amounting to US$80,080.00m in 2024.
Vietnam's growing tech industry is driving demand for system infrastructure software, making it a lucrative market for software companies.

Key regions: France, Australia, China, Japan, Canada

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Analyst Opinion

As technology continues to advance, the demand for System Infrastructure Software in Vietnam is on the rise.

Customer preferences: Vietnamese customers are becoming more tech-savvy and are seeking out software solutions that can help them manage their IT infrastructure more efficiently. The market is being driven by a growing number of small and medium-sized enterprises (SMEs) that are looking for cost-effective solutions to manage their IT systems.

Trends in the market: One of the key trends in the System Infrastructure Software market in Vietnam is the increasing demand for cloud-based solutions. This is due to the fact that cloud-based solutions offer cost savings, scalability, and flexibility, which are all important factors for SMEs. Another trend in the market is the growing importance of cybersecurity. As more businesses in Vietnam rely on technology to run their operations, the need for robust cybersecurity solutions is becoming increasingly important.

Local special circumstances: Vietnam is a rapidly developing country with a young and tech-savvy population. The country has a large pool of skilled IT professionals who are driving innovation and growth in the technology sector. Additionally, the Vietnamese government has been actively promoting the development of the technology sector, which has helped to create a favorable environment for software companies.

Underlying macroeconomic factors: Vietnam's economy has been growing at a rapid pace in recent years, which has helped to fuel demand for System Infrastructure Software. The country has a large and growing SME sector, which is a key driver of economic growth. Additionally, Vietnam has a young and growing population, which is increasingly tech-savvy and is driving demand for technology solutions. Finally, the country's favorable business environment and government support for the technology sector are helping to attract investment and drive growth in the market.

Methodology

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.