Market Insights Technology Software Enterprise Software

Other Enterprise Software - Vietnam

Vietnam

Revenue in the Other Enterprise Software market is projected to reach US$58.44m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.31%, resulting in a market volume of US$83.45m by 2028.
The average Spend per Employee in the Other Enterprise Software market is projected to reach US$0.99 in 2024.
In global comparison, most revenue will be generated in the United States (US$34,310.00m in 2024).

Key regions: United States, Netherlands, Australia, South Korea, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

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.

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.