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Administrative Software - Vietnam

Vietnam

Revenue in the Administrative Software market is projected to reach US$12.15m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.00%, resulting in a market volume of US$17.15m by 2028.
In global comparison, most revenue will be generated in the United States (US$7,422.00m in 2024).

Key regions: United States, Japan, South Korea, France, Australia

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Analyst Opinion

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.

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.